When you're thinking of purchasing Spanish property there are a lot of considerations. The main ones should be location, quality and price naturally but even after debating these top three points to consider you still need to avoid making the basic mistakes that anyone can make if they aren't suggested in the right way.
Let's take a look at them in turn.
1) Not employing an independent counsel
Never use the barrister that the developer tells you to. Never use a lawyer who doesn't speak your language. Never employ a lawyer you have a gut suspicion about that isn't good.
Always employ a lawyer.
We usually suggest a variety of barristers to our customers, counsels who talk the language the client is confortable with. We have got a list of reputable counsels and believe me many have been struck off that list for assorted nefarious activities such as not answering mails quickly enough or not being clear on the specifics and details. So the barristers we suggest can be blunt to the point of agony but at least they get the job done fast efficiently and effectively.
2) Not thinking about the lifestyle you would like and only considering the property
People fall in love with a property but what they are really hunting for is a change of lifestyle. The property should enhance the way of life. If you like 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 place in the sticks with no public transport even if it has some wonderful bougainvillea climbing up the crumbling outside wall.
If you love the peace and quiet of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, make certain to bring those silent dog whistle things it's easy to get from the Army and Navy stores in the Uk as the chorus of dogs speaking at nights in numerous 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 agents became realtors because so many people left their brain on the plane. Selling was easy and any piece of rubbish might be sold at costs that were way over what their implicit worth was. Folks would frequently get off the plane, get picked up and taken straight to a property or 2 and buy them.
No consultation, no enquiry, 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 desire of "I want to head off to Spain" means nothing. You will not do it or perhaps worse you may but you will not do it right. You have to do the enquiry and seriously these days there is not any excuse for not doing so especially when you factor in the investment you'll be making. Ignorance can be an expensive mistake.
Let's take a look at them in turn.
1) Not employing an independent counsel
Never use the barrister that the developer tells you to. Never use a lawyer who doesn't speak your language. Never employ a lawyer you have a gut suspicion about that isn't good.
Always employ a lawyer.
We usually suggest a variety of barristers to our customers, counsels who talk the language the client is confortable with. We have got a list of reputable counsels and believe me many have been struck off that list for assorted nefarious activities such as not answering mails quickly enough or not being clear on the specifics and details. So the barristers we suggest can be blunt to the point of agony but at least they get the job done fast efficiently and effectively.
2) Not thinking about the lifestyle you would like and only considering the property
People fall in love with a property but what they are really hunting for is a change of lifestyle. The property should enhance the way of life. If you like 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 place in the sticks with no public transport even if it has some wonderful bougainvillea climbing up the crumbling outside wall.
If you love the peace and quiet of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, make certain to bring those silent dog whistle things it's easy to get from the Army and Navy stores in the Uk as the chorus of dogs speaking at nights in numerous 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 agents became realtors because so many people left their brain on the plane. Selling was easy and any piece of rubbish might be sold at costs that were way over what their implicit worth was. Folks would frequently get off the plane, get picked up and taken straight to a property or 2 and buy them.
No consultation, no enquiry, 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 desire of "I want to head off to Spain" means nothing. You will not do it or perhaps worse you may but you will not do it right. You have to do the enquiry and seriously these days there is not any excuse for not doing so especially when you factor in the investment you'll be making. Ignorance can be an expensive 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 aspects of moving to and living in Spain is Houses for Sale In Spain
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