When you're thinking of purchasing Spanish property there are lots of points to consider. The primary ones should be location, quality and price naturally but even after thinking about these top three concerns you still need to avoid making the basic mistakes that anybody can make if they don't seem to be suggested in the correct way.
Let us take a look at them in turn.
1) Not employing an independent barrister
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a lawyer.
We always suggest a range of lawyers to our clients, barristers who speak the language that the customer is confortable with. We have a list of credible barristers and trust me many have been struck off that list for various nefarious activities like not answering mails fast enough or not being clear on the specifics and details. Therefore the lawyers we suggest can be blunt to the point of pain but at least they get the job finished quick effectively and efficiently.
2) Not thinking about the lifestyle you would like and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it will have an underlying structural problem. However it's nice does it not? And looks are all that counts are not they? A survey can be done comparatively reasonably nonetheless it may save you from making a massive mistake. Ask me for recommendations because I know of two superb surveyors in the local area and I am going to put you in contact with both of them.
4) Overstretching a budget.
The large fault. If your financial position is 200k then your financial position is 200k not 220k, not 240k and definitely not 330k. If you can get what you need for 150k even though your position is 200k then get it, and if you can get your property for 120k based mostly on your way of life concerns then do it. You do not need to show off in dinner parties announcing "Well naturally our property was a lot more costly than yours". The way of living is the key and if you have cash to splash after purchasing rather than having to scrimp and save every last penny for the remainder of time then your life in Spain will be much better.
5) Leaving your cortex on that famous plane
During the boom years realtors became estate agents because so many folks left their brain on the airplane. Selling was simple and any piece of rubbish may be sold at prices that were way over what their inherent price was. Folk would regularly get off the airplane, be picked up and taken direct to a property or two and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
Most of those people got burnt and left Spain two years on with their wallets considerably lighter and heavily chastened by the experience. The reason Why I have 100 videos preparing you to live in Spain, a blog with posts like this one, a twitter account and a Facebook page is so you avoid the mistakes. You can follow and get information, ask me anything about the market and also get some great understanding of what it is really like living in Spain.
Without that info the general want of "I need to move to Spain" means nothing. You won't do it or even worse you'll but you won't do it properly. You should do the investigation and seriously nowadays there is no excuse for not doing so particularly when you consider the investment you will be making. Stupidity can be a costly mistake.
Let us take a look at them in turn.
1) Not employing an independent barrister
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a lawyer.
We always suggest a range of lawyers to our clients, barristers who speak the language that the customer is confortable with. We have a list of credible barristers and trust me many have been struck off that list for various nefarious activities like not answering mails fast enough or not being clear on the specifics and details. Therefore the lawyers we suggest can be blunt to the point of pain but at least they get the job finished quick effectively and efficiently.
2) Not thinking about the lifestyle you would like and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it will have an underlying structural problem. However it's nice does it not? And looks are all that counts are not they? A survey can be done comparatively reasonably nonetheless it may save you from making a massive mistake. Ask me for recommendations because I know of two superb surveyors in the local area and I am going to put you in contact with both of them.
4) Overstretching a budget.
The large fault. If your financial position is 200k then your financial position is 200k not 220k, not 240k and definitely not 330k. If you can get what you need for 150k even though your position is 200k then get it, and if you can get your property for 120k based mostly on your way of life concerns then do it. You do not need to show off in dinner parties announcing "Well naturally our property was a lot more costly than yours". The way of living is the key and if you have cash to splash after purchasing rather than having to scrimp and save every last penny for the remainder of time then your life in Spain will be much better.
5) Leaving your cortex on that famous plane
During the boom years realtors became estate agents because so many folks left their brain on the airplane. Selling was simple and any piece of rubbish may be sold at prices that were way over what their inherent price was. Folk would regularly get off the airplane, be picked up and taken direct to a property or two and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
Most of those people got burnt and left Spain two years on with their wallets considerably lighter and heavily chastened by the experience. The reason Why I have 100 videos preparing you to live in Spain, a blog with posts like this one, a twitter account and a Facebook page is so you avoid the mistakes. You can follow and get information, ask me anything about the market and also get some great understanding of what it is really like living in Spain.
Without that info the general want of "I need to move to Spain" means nothing. You won't do it or even worse you'll but you won't do it properly. You should do the investigation and seriously nowadays there is no excuse for not doing so particularly when you consider the investment you will be making. Stupidity can be a costly mistake.
About the Author:
Graham Hunt is an estate agent in Valencia. He lists his properties for sale in Spain at Valencia Property and his blog where he talks about all aspects of moving to and living in Spain is Houses for Sale In Spain
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