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Purchase Assistance...
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Decide why you are buying
Before you even think about looking at brochures, visiting property exhibitions or searching the Internet, take the time to rehearse exactly what it is you’re looking for.
This may sound basic, but the reasons for your purchase will affect all the subsequent decisions that you have to make.
Some people buy property purely as an investment; others want to relocate, some want a second home on the sun.
Choose your location
If you’re looking for investment property, for example, it’s important to choose a property of the type and location that will give you a maximum return.
As a general rule, properties by the coast attract higher rental incomes. If you want a property to retire to, consider buying somewhere further inland to get more for your money and think about how far you’re prepared to travel for shops and other amenities.
If you plan to make a permanent move and take up employment in Spain you may be more interested in properties that are close to the major population centres.
Decide your budget
There are always hidden and additional costs when you buy property and Spain is no exception.
As a general rule, allow 10% - slightly more for new and off-plan properties - on top of your purchase price, to cover various taxes and legal fees.
You can get a mortgage in the UK or in Spain and, for the latter, it is normal for banks to advance a loan of up to 80% of the declared value of the property.
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