We all know how important it is to make the right choice when it comes to investing, especially when buying a property.
There are several factors to take into account in order to achieve this goal, which we will discuss below:
Before buying a house abroad, you should know where, as there are many coastal towns, all of them with their pros and cons.
We recommend first spending a holiday in the area and during different periods of the year, to see what the town is really like in both Summer and Winter. Visit its beaches, historic center, restaurants, activities, its culture and parties, and only when you are sure that you could live there, then start looking for a house.
Location is undoubtedly one of the most important points to take into account when investing our money in a property in Spain.
The best areas always hold their value better, they suffer less in times of crisis, there is less supply and demand is high.
Being able to walk to the town, the beach or restaurants and supermarkets is an added value for the property.
And if for some reason you decide to rent your house, these factors will be fundamental for potential clients to decide to rent your property.
Spain means sunshine and good weather, which is the main reason why so many tourists choose us as their holiday destination, second home or year-round residence.
During the summer season, there is sunshine in every house, but what happens during the winter? Some of the houses do not enjoy many hours of sunshine during the winter season and are in the shade for most of the day.
If you want to invest in a rental property, you should make sure that the house has a good exposure and is sunny all year round, this will help you to increase the number of clients who rent your property. Many clients choose to rent in winter, as the temperature is pleasant and there are fewer people, but their prerequisite is that the house enjoys sunshine during the day.
Thus, orientation and sun exposure are one of the factors to take into account when investing in a property in Spain.
Another less important point is the possibilities of extension of the house, let's give an example:
- There are properties, where either because of the size of the plot or because of the urbanistic norms of the area, there is no possibility to extend.
It must be taken into account that many of the houses on the coast of Spain were built in the 80's and were designed for holidays. Nowadays the way of living inside a house has changed, and people are looking for comfort and convenience with spacious living rooms for example.
It is advisable to make sure that there is still a possibility to extend the house, because if you decide to sell your house in Spain one day, this will be a good selling point.
Let's imagine that we have found the house that we like, it is always advisable to check its facilities in detail, such as checking that the heating system, air conditioning, pool system, etc. work correctly.
Inspect the roof well to see if there are leaks or not, or see the walls in detail to check if there is moisture.
If the house is many years old, ask your lawyer to add a clause to the contract, mentioning that a detailed inspection will have to be carried out by an independent technical architect, who will verify if the property is in good condition or not.
The advice and recommendations of your local real estate expert will be key to getting your investment right, and it is very important to have the services of a qualified and honest real estate agent who knows the area where you want to buy your property.
The estate agent should know all the areas in and around the town and mention the strengths and weaknesses of each one, as well as their services and distances to beaches, etc. .....
An experienced real estate agent should also know the town planning regulations of each place, and be able to advise his client.
If you have been able to establish a good relationship with your real estate agent and you trust him, it can be of great help, as he will be your eyes if you are not in the area, and a good opportunity appears. To do this, you must trust your agent, but never get carried away, and always act with guarantees.
The first visit will help us to know if the house fits us, if we like the pool area and if it meets the characteristics.
But it is very important to visit the property one to two more times, and if possible at different times of the day. In this way, you will be able to see and feel the amount of sunlight in each room, but also to inspect its finishes in more detail.
You have found the house that you like, gather the desired characteristics and see the potential in it. We recommend walking around the area, seeing the type of neighborhood, its services, seeing if there is not much traffic and all those things, before taking the final step. The ideal is to go several times, in the morning, at noon and in the afternoon.
You will have the opportunity to meet neighbors, who will be able to tell you about their experience and insights.
When you found the house that ticks all the boxes and match your budget, don't hesitate and go for it but always in the safe side of things.
To do this it is advisable to have first made contact with a local lawyer, to whom you can send the basic documentation of the property before proceeding with the payment of the reservation.
Your lawyer will review the basic documentation, mention the problems to be solved (if any) and review the reservation contract before you sign it, making sure that there are no abusive or unprofessional clauses on the part of the real estate agency.
We believe that by following these steps we minimize risks and unforeseen events when buying a property.