Are you thinking about buying property in Spain?
If so, then you must know there are many steps you need to follow. So before you picture yourself holding a cold beverage and enjoying the Spanish sun, you should be prepared.
Here are 5 tips, so let’s get started.
1. To Rent or To Live
Before you start looking at real estate in charming Spain, you should decide whether you want to buy to rent or buy to live.
If you decide you want to buy to rent ask yourself some questions? Do you plan on renting it long term or short term?
Renting short term might mean you want to look at property in areas that would be appealing for visitors.
Buying to rent might require you to hire a managing agency to upkeep the property.
If you want to buy the home to live in, then this might facilitate deciding on a location. You can pick the one that speaks to you.
2. Calculate the Costs
Keep in mind there will be additional costs associated on top of the costs of the house.
You will have to allocate money for property taxes. These taxes vary from region to region. For example, the Valencia region sees taxes of up to 10% and the Canaries up to 6.5%.
These are only a few of the extra costs. You also need to think about other costs such as legal fees, notaries, land registry, and others.
3. Familiarize Yourself With the Laws
Although you might want to jump at the chance to buy a home in Spain, you might want to familiarize yourself with the laws first.
We’re not telling you to become an expert in Spanish real estate law, but you should familiarize yourself with the basics.
Take your time to understand basic terms, and ask for help if you need to.
Yes, you might have a dream location in mind. However, visiting and living in a city are two different things.
Check out sites like Right Casa Estates to learn about houses for sale in different regions in Spain.
Make sure you learn as much as possible about all of the different locations where you might consider buying. Try to live like a local as much as you can before you decide on a city.
5. Lawyers and Real Estate Agents
If you’re serious about buying a house in Spain, then you need to get a real estate agent to help you in the process.
Keep in mind agents in Spain are regulated differently, therefore you should look for a reputable agent.
And while you’re at it, you should also look into getting a lawyer, which would be helpful if you’re not a Spanish citizen.
Buying Property in Spain
After reading these tips, we hope you’re one step closer to getting your house in Spain. So make sure you follow these tips about buying property in Spain and you’ll be sipping sangria and eating tapas.
Did you enjoy these tips, and would like to learn more about buying real estate?
If so, check out our blog for more tips.