The Quick Start, Five-step Spanish Property Guide

With an ideal climate and increasing tourism and development, Spain is becoming a very popular destination for buying property. With coastal apartments that have exquisite sea views, villas with swimming pools and a range of nightlife, it’s not hard to see why many Britons are exchanging the rainy days for the sun. But it can be quite difficult to find all of the information you need to help make those important decisions. For those wishing to make an investment or to relocate, here’s a quick start guide to buying Spanish property.

1. Where to buy?

It’s important to know not only what you want from your Spanish property, but also the location around it. What kind of views do you imagine from your villa or apartment? Such areas as Albanchez offer traditional Spanish countryside scenery. If you are looking for a more relaxing quiet life with orange and lemon groves, winding streets and tranquil a atmosphere, then areas such as Albenchez are a perfect location. Mojacar in the Carbrera Mountain range and Almeria, situated on the southern Mediterranean coast are perfect for getting away from a busy pace of life. Garrucha is also situated in the region of Almeria and has a bustling fishing port, supplying many of the local restaurants and other local eateries. The town centre has plenty of shops and markets and a range of bars and clubs for a vibrant evening out. It is also important that the location is easy to get to, so find out where the nearest airports are and what destinations are available from them.

2. Finding a good mortgage.

There are a number of lenders offering a range of Spanish mortgages. Remember that Spanish mortgage interest charges are set by the European Central Bank, but each bank still holds a number of options. As a result, rates can even vary from branch to branch. You need to make sure that you shop around and look at the different options available to you. If you go with a broker, do your research thoroughly, as choosing the wrong broker might meant that you end up paying more than you need too. Fixed rate mortgages are popular for overseas buyers, as it means that you will always know what you are paying out and so can plan accurately for the future.

3. How to buy?

Finding a good property agent is essential in buying property overseas. If you know which area you would like to buy in, look for agents that deal specifically in that location. They will have an excellent knowledge of the types of property that would suit your needs, whether it is a holiday home or something more permanent. Make sure they know what you want and arrange an appointment to meet them face to face. Choose an agent that has high customer service standards and focuses on helping you find what you want rather than just offering you what they already have. Smaller agencies tend to focus on quality and take your interests seriously.

4. Get a good lawyer.

It’s common sense to get a good lawyer, especially when buying in another country. Finding one that speaks very good English (which many of them do) is essential, so that there is always a clear understanding of what is happening. Agencies can suggest lawyers but make sure they have a good track record and look for personal recommendations, which is easy if you look through people’s buying blogs on the internet. Why not get in touch with someone who has made a recommendation directly? This way you can ask lots of questions and get a good all-round view. Remember that your lawyer will need to help if there are any complications, and will be there to check your paperwork before you sign it so that everything is in order. They will open a Spanish bank account for you and look out for any inconsistencies in paperwork, so you need to be confident about who you employ.

5. Budget.

Make yourself a list of what you need from your property, including the number of bedrooms and stick to it. Don’t let yourself be talked into expanding beyond your means. If you add on around 10% so that you take into account taxes and fees, you can make sure that you have covered yourself financially and don’t fall into any nasty traps. Ask as many questions as you can and see properties you are interested in as many times as possible. Remember you can always negotiate on price; if you can get it for cheaper than the asking price you can spend that money on any alterations or adjustments that are needed. A good lawyer will make you aware of any taxes that are attached to buying a property in a specific area.