- Spain is a big country and the areas vary considerably. Choose the area that suits you best.
- Be realistic with regard to your requirements. A superb apartment could be on offer in one area but be unattainable at that price in another.
- Set your budget and stick to it. Over extending yourself can turn that dream into a nightmare.
- Choose your agent and lawyer with care. This is vital
- Take the greatest of care confirming that the property of interest is 100% legal.
- Ensure that Bargains really are what they are claimed to be and not just undesirable property that will be of little value in the future. Cheap and discounted properties may appear to be bargains. However, this is not the case if the price is low because nobody wants them. A bargain is a property that is bought at a very competitive price, is what you actually want, will appreciate in price over the years and will readily attract buyers in the future.
- Find a place you would love to live in and priced around 25 to 30pc below the peak prices – then bargain a bit and buy it.
- When taking out a Spanish mortgage be aware that exchange rates can seriously affect your outgoings and ensure that you are able to repay the mortgage in all circumstances.
- Don’t continually wait for the exchange rate to improve or for the market to see an upturn. Even so called experts cannot predict the future. Remember you are buying a permanent or holiday home to enjoy. If you want to own a Spanish property then this is as good a time as any to buy one.
- Contact Utopia Spanish Property – OK that’s not so much a commandment but more of a sensible suggestion.
Advice available free of charge from:
Utopia Spanish Property
Telephone – 01992 531 233
Email – info@utopiaspanishproperty.com
Website – www.utopiaspanishproperty.com