When you're thinking of purchasing Spanish property there are lots of points to consider. The primary ones should be location, quality and price naturally but even after thinking about these top three concerns you still need to avoid making the basic mistakes that anybody can make if they don't seem to be suggested in the correct way.
Let us take a look at them in turn.
1) Not employing an independent counsel
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a barrister.
We usually suggest a selection of counsels to our customers, lawyers who talk the language the client is confortable with. We've got a list of reputable lawyers and listen to me many have been struck off that list for numerous nefarious activities such as not answering mails quick enough or not being clear on the specifics and details. Thus the counsels we suggest can be blunt to the point of discomfort but at least they get the task finished quickly , efficiently and effectively.
2) Not pondering the life-style you need and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it will have an underlying structural problem. However it's nice does it not? And looks are all that counts are not they? A survey can be done comparatively reasonably nonetheless it may save you from making a massive mistake. Ask me for recommendations because I know of two superb surveyors in the local area and I am going to put you in contact with both of them.
4) Overstretching a budget.
The gigantic fault. If your position is 200k then your budget is 200k not 220k, not 240k and actually not 330k. If you can get what you want for 150k although your budget is 200k then get it, and if you can get your property for 120k based on your lifestyle considerations then do it. You don't need to show off in dinner parties saying "Well of course our property was lots more expensive than yours". The life-style is the key and if you have cash to spend after buying instead of having to scrimp and save each last penny for the rest of time then your life in Spain will be so much better.
5) Leaving your cortex on that famous plane
During the boom years estate agents became agents because so many folk left their brain on the aeroplane. Selling was straightforward and any piece of rubbish could be sold at costs that were way over what their in-built value was. People would often get off the aeroplane, get picked up and taken directly to a property or 2 and buy them.
No consultation, no inquiry, no thought of structural integrity and no thoughts of price.
The majority of those folks got burnt and left Spain 2 years after with their wallets significantly lighter and heavily chastened by the experience. The explanation Why I have 100 videos helping you to prepare to live in Spain, a blog with posts such as this one, a twitter account and a Facebook page is so that you avoid the fluffs. You can follow and get info, ask me anything about the market and also get some great insight into what it is truly like living in Spain.
Without that information the general wish of "I desire to head to Spain" means nothing. You will not do it or perhaps worse you will but you will not do it right. You must do the inquiry and seriously these days there's no excuse for not doing so especially when you think about the investment you'll be making. Ignorance can be a dear mistake.
Let us take a look at them in turn.
1) Not employing an independent counsel
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a barrister.
We usually suggest a selection of counsels to our customers, lawyers who talk the language the client is confortable with. We've got a list of reputable lawyers and listen to me many have been struck off that list for numerous nefarious activities such as not answering mails quick enough or not being clear on the specifics and details. Thus the counsels we suggest can be blunt to the point of discomfort but at least they get the task finished quickly , efficiently and effectively.
2) Not pondering the life-style you need and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it will have an underlying structural problem. However it's nice does it not? And looks are all that counts are not they? A survey can be done comparatively reasonably nonetheless it may save you from making a massive mistake. Ask me for recommendations because I know of two superb surveyors in the local area and I am going to put you in contact with both of them.
4) Overstretching a budget.
The gigantic fault. If your position is 200k then your budget is 200k not 220k, not 240k and actually not 330k. If you can get what you want for 150k although your budget is 200k then get it, and if you can get your property for 120k based on your lifestyle considerations then do it. You don't need to show off in dinner parties saying "Well of course our property was lots more expensive than yours". The life-style is the key and if you have cash to spend after buying instead of having to scrimp and save each last penny for the rest of time then your life in Spain will be so much better.
5) Leaving your cortex on that famous plane
During the boom years estate agents became agents because so many folk left their brain on the aeroplane. Selling was straightforward and any piece of rubbish could be sold at costs that were way over what their in-built value was. People would often get off the aeroplane, get picked up and taken directly to a property or 2 and buy them.
No consultation, no inquiry, no thought of structural integrity and no thoughts of price.
The majority of those folks got burnt and left Spain 2 years after with their wallets significantly lighter and heavily chastened by the experience. The explanation Why I have 100 videos helping you to prepare to live in Spain, a blog with posts such as this one, a twitter account and a Facebook page is so that you avoid the fluffs. You can follow and get info, ask me anything about the market and also get some great insight into what it is truly like living in Spain.
Without that information the general wish of "I desire to head to Spain" means nothing. You will not do it or perhaps worse you will but you will not do it right. You must do the inquiry and seriously these days there's no excuse for not doing so especially when you think about the investment you'll be making. Ignorance can be a dear mistake.
About the Author:
Graham Hunt is an estate agent in Valencia. He lists his properties for sale in Spain at Valencia Property and his blog where he talks about all sides of moving to and living in Spain is Houses for Sale In Spain
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