Monday 5 May 2008

How To Buy Property In Spain - Where To Start

When considering how to buy property in Spain, the first question to ask yourself is: "Why do I want to buy this property?" That is, do you want it primarily as a holiday home or a possible retirement home for yourself and your partner/family? Or is it primarily as an investment or a lettings business?

The answer to this question will help you decide where to start looking for your property. If it's primarily for yourself, you should consider looking inland, as property is much cheaper inland than in coastal areas. However, if it's for business or investment purposes, you'll get a better return if it's near the coast.

Of course you must also look at the question of accessibility. However gorgeous the property might be, you won't be able to enjoy it if it's difficult to get to. If it's near an airport, think how you would manage if the airline you normally use ceased flying to that airport (this does happen). If you have fallen in love with the property while on holiday, make sure you visit the area at different times of year to make sure you still like it all year round! Find out about local amenities such as shopping and sports.

One thing you must remember is that, in Spain, if ownership of a property is transferred while there are mortgage or other debts still owed on it, the new owner becomes legally responsible for those debts! So if you are buying an existing property, make sure you check and double-check via your lawyer that there are no debts on it. You can't count on the seller to tell you!

Remember that you can start your search for your Spanish property at http://www.bizwrite.co.uk/realestate/propertyabroad.html You'll receive every possible help right from the start, including advice on where would be the best location for you.

No comments: