15 essential tips for buying housing in Orihuela Costa
The Spanish property market is now in full recovery, which is leading to foreign buyers again in search of the ideal home. In this article, we will help in the process through some useful tips.
Buying a property, either in the UK, Spain, or another country, is always an important decision that entails a high degree of commitment. The credit crisis in Spain step, and now the country is in full economic recovery. Low real estate prices are one of the causes of the current attractiveness of Spain for British and Scandinavian buyers.
No need to be an expert on legislation to learn how the buying process works in Spain, although it is advisable to have a slight idea. There are many books and official information available, but some good advice on what to do and what not to do when buying property in Spain are unpayable.
Some of these tips may result from common sense. And certainly they are. However, often the excitement of visiting homes judgment clouded us, and makes us end up doing things that go against our interests. Therefore, keep these tips in mind if you are tempted to leave common sense at the airport.
1. Be clear about your finances.
Once you have decided to buy a property in Spain, it is important to begin to organize your funds and bank accounts. You'll need to purchase the property. Please note all costs of purchase, and other costs that increase as attorney fees, registration of property, or real estate agent commission.
2. Calculate a realistic budget.
It is very important to know exactly how much money you spend on buying housing before undertaking travel to Spain to visit properties. The last thing we want is to fall in love with a property that can not afford even remotely. Do not get too high a budget. Make sure you consider all the costs, which generally tend to increase the final price by 15%.
3. Consider the exchange.
Very often, foreign buyers decide to buy based on the exchange rate Euro / Pound given time. These rates fluctuate all the time, and at the time of closing the transaction types may have changed drastically.
For this reason we recommend talking to a foreign exchange specialist to help you avoid the damage of fluctuations and advise you of the best possible way to stretch your budget as much as possible.
4. Find out about the buying process in Spain.
With as important as buying a property, especially in another country decision, anticipate is particularly relevant. However, when document yourself, not get obsessed with all the details. You can always hire an attorney to oversee all the paperwork, but have a general knowledge will be very useful.
5. Think about your priorities.
Fortunately, Spain has a wide range of locations and types of property so that you are able to find the one that suits you. However, maybe you should start writing down on paper what your needs are, how far you want to have the services and shops, how much you're willing to drive and navigate, etc.
6. Find out about the areas that attract you.
Think about where and what type of property you would like to buy in Spain. It is very important to get complete information on each area that you like and find out if you have everything you're looking for in your new neighborhood. Think if you like its climate, services, neighbors or anything you think is important.
7. Visit these areas also out of season.
It is a good idea to know these areas in all seasons, both winter and summer. This will make you familiar with seasonal differences. In the winter months you may notice that real estate agents have more time to devote and sellers are willing to negotiate price reductions.
8. Do not let anyone pressure you.
Pressures when buying are not like they used to, but keep in mind that the housing market is a buyer's market. Ask to see the property as often as you need, at different times of day, different days of the week, if you can.
9. Do not sign anything under pressure.
Perhaps the most important of the advice we are giving. Do not sign anything or pay without making the necessary legal checks to property and contract. This is very important, because often foreign buyers in Spain are easily deceived about all kinds of issues.
10. Hire a trusted lawyer.
This advice is in line with the previous. Invest in a good lawyer whose independence and transparency trust. Having someone on your side who is familiar with the legal process and all purchase details is very important. This professional will have your interests in mind at all times to advise what is best for you.
11. Seek the most appropriate estate agent.
The real estate agent will be one of the people who help you in finding housing, so it is important that you make sure you hire the most appropriate. You need one who specializes in the areas that interest you, you understand exactly what you're looking for, and have experience in trading with foreign citizens.
It is OK to use Internet research, this will give you an idea of the different options that exist. If you know someone who has already bought a property in the area, see if you can personally recommend to any agent or company. It is very important that you get in one hand you trust. This will enable assure the highest number of visits to properties that will save you time and money.
12. Consider the state of housing for future reforms.
If you plan to carry out reforms on a property that you purchase, remember that in most cases have to ask permission. It could be that it was not very difficult if you plan to do does not affect properties around, but it is well informed because the authorities are becoming stricter with these issues.
13. Do you want to rent it when not reside? Check what you need.
If you are planning to rent your home while you are away, check out the paperwork you'll need. The legislation changes in each region, and in some some sort of record for rentals, especially short stays required. Do not get caught off guard.
14. Do not rush with the purchase.
Remember that once you've purchased your home, a point of no return after which economic responsibilities it is difficult to roll back are acquired is reached. Do not hurry. Before signing the deed, make sure you understand everything. Do not let anyone pressure you to sign under your will.
15. Avoid unnecessary risks when send money from your country of origin.
Whatever you do, you can avoid the risk of changes in currency through a forward contract. This allows you to block an exchange rate at the time of purchase the property, ensuring you will not lose money if the currency market suffers sudden movements while the purchase is finished.
Check out the new developments in Orihuela Costa with Vincent Real Estate.
Check out the catalog of our website where you can find homes with different characteristics in different areas of Orihuela Costa, as well as elsewhere in the Costa Blanca and Costa Calida.
Vincent Real Estate is a family business with a team of experts estate agents totaling a combined experience of 60 years. We offer a wide range of real estate services covering all stages of the property purchase.
Contact us and we'll help you with anything you need related to the purchase of your home.
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