Whether you are interested in living part-time or full-time in Spain, there are plenty of attractive properties for sale and many towns and cities to choose between. Due to the number of choices available, you must consider all matters carefully before rushing into anything.
We will address some of the key questions you need to ask yourself before agreeing to buy a property in the following post.
Is the Property Easily Accessible?
Although rural property in Spain is much cheaper than a resort home, there is a reason for this. Living on the side of a mountain in the middle of nowhere may sound appealing, but you have to think of the practicalities. How far is the home from the nearest supermarket, chemist, and hospital? Is there an airport within driving distance? Would a taxi fare from the nearest town cost you an arm and a leg? All these are essential factors that need to be carefully considered.
Are you Going to Negotiate with Banks Yourself?
If you decide to forgo the services of a mortgage broker, it is worth getting as many quotes from banks as possible to find out the repayment cost of the different mortgages they can offer you.
Are You Buying Directly from The Property Owner?
Although buying directly from the owner can be cheaper as there are no agency fees, it may present other challenges. There are many pitfalls you could fall prey to, which won’t happen if you use the services of an experienced real estate agent.
Handling Removals Yourself?
Dealing with removals yourself may save you money in the long run. Still, you need to consider all the logistics involved with moving to another country and see whether it is worth hiring a professional company to deal with the task on your behalf.
Found a Property Online
Although using the internet can be a great way to establish what kind of offers are out there, you should never buy a property that you’ve only seen online. You need to check homes out in person.
Handling Taxes Yourself?
While you may save a little money by tackling tax issues on your own, in the long run, it’ll be easier and more cost-effective if you hire a professional financial advisor. There are a lot of taxes and charges to be aware of as an expat buying in Spain.
Does the House Need Renovating or Other Work Carried Out?
While you may like the idea of doing it all yourself, it may not be viable. If it costs a lot and involves a lot of holiday time to complete, is it not better to hire a professional team?
Thinking of Avoiding the Services of a Lawyer?
You may want to try and handle all the legal side of buying property in Spain on your own. However, there are many tricky aspects to the process and if you don’t seek the help of a professional who knows what to look out for, it could cost you more in legal fees long-term, and you could find yourself in financial trouble.
We hope the above questions do not make you question your dream of moving to Spain and buying your dream home. They are designed to help you think about the process with caution. It is a big step to make when you decide to move to a completely different country. Failing to give it the time and consideration it deserves could result in disaster. So, take your time and keep in mind the points raised in this article, and you will not make a costly mistake you will live to regret.
