7 Tips for Buying Property in Spain in 2017
With the real estate market in full normalization process and with the open mortgage, 2017 aims to be a positive year for housing.
Even with the data of the real estate market more and more in favor, before launching to buy it is advisable to read these 7 tips to make successfully one of the most important investments that we make in our life.
1. Analyze the houses that have the most capacity to be revalued.
If the house is intended for investment, it is important to analyze the existing growth prospects in the most modern and dynamic areas of the city or the area where we want to buy it.
2. Choose the best mortgage offered by the market.
The current situation offers favorable mortgage conditions for the buyer. It is advisable to study carefully the mortgage market to choose what suits us best.
3. The monthly mortgage fee should not exceed 30% of your net income.
One of the main problems of the real estate bubble was that home buyers in many cases were indebted to their possibilities. To avoid this, you should try to make sure that what you pay monthly for your house does not exceed 30% of your income.
4. Choose the type of home that suits you best.
If you are going to invest maybe a second hand property to reform, to rent it. However, if you go to live in it maybe it will pay you to look at a new home. The prices of these types of homes are not as high as they used to be, and by buying flat you can be sure to pay much less.
5. Location is key when investing correctly.
Whether it is to live or to rent, factors such as the existence of public transport, green areas, the proximity of shops or educational centers will always keep your investment up.
6. Analyze in detail the expenses of the neighborhood community.
If these are very high, or are distributed among very few neighbors, you will incur monthly payments that will significantly increase the investment or make it less profitable.
7. Do not rush with your decisions. Everything in its time.
So important is to know the market objectively before making a decision, as giving a quick response when the occasion arises. Rush, or let the occasion pass, will give the fret a good investment opportunity.
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