The Golden Secrets to Buying a Property in Spain
Of course, like anywhere in the world, there are secrets to buying property in Spain. To know these is vitally important, particularly if you're thinking of relocating. Buying a holiday home is one thing, but buying when you intend making Spain your new permanent home is another matter altogether, because - to put it mildly - the stakes are very high. Without question, where and what you buy will define the long term success of any move.
Spain is a complex place to move to as its land law and culture are very different from other north European countries. it's notoriously easy to buy a property that is illegal or which, although legal, has very considerable potential future liabilities (for example, urbanisation costs). These could quickly distort your finances and place you under enormous stress.
Equally, Spain offers a bewildering choice of areas in which to live - often not appreciated by relocating Europeans, who tend to automatically buy within expensive 'ghettos' of their own nationality. Whilst this can work well, it's often limiting and can lack the challenge and life enrichment of attempting to integrate with the Spanish themselves.
Almost all 'rules' are there to be broken, but the ones below should be studied cautiously before breaching them. In fact, when looking for a permanent property, you should try to use the list below as your first test of a property's long term worth and only break one of the rules - if you can replace it with something else outstanding.
So, for example, always try to buy a property with a flat plot. To do otherwise can make a re-sale difficult as your property will not appeal, logically, to a large section of the market (elderly people - often with small grandchildren, couples with small children and anyone even mildly disabled). This doesn't mean that you don't buy a property with a steep plot - but make absolutely sure that the view, for example, is truly spectacular. Always, practically, look at your re-sale market and only disregard a 'rule' if, objectively, you can replace it with a major positive alternative.
And when you do look at buying a property, always keep in mind the re-sale qualities that exist to the biggest market share possible. Moving abroad is always something of a jump into uncertainty and you may find that you simply don't like it after a few months. In which case, you must, before you buy, have made sure that your property was easily re-saleable. So, always compromise on your personal likes and dislikes - rather than buy (or reform) a property that only you and you alone are likely to want!
Of course, if you buy within cautiously thought-out parameters then, more than likely, your property will also be a fine long term investment! So, buy cautiously, never be rushed and look at things with cold objectivity...
THE RULES:
Villa Vital Characteristics
Make sure you buy:
• Urbano
• Fully urbanised
• Maximum 2/3 minutes from a village
• 15-20 minutes (approx) from the sea
• I hour (max) from an international airport
A property that has:
• three bedrooms (min)
• two Bathrooms (min)
• Flat plot
• Swimming pool
• An individual character
On an estate that:
• Has a mixed community of Spanish and Internationals (bigger future re-sale market and a hedge against a single country having particular problems i.e. tax changes on second homes, currency fluctuations)
• isn't a 'ghetto' comprised of a single nationality (agorophobic and often boring in the long term)
Town House Neededs
• Dedicated parking or an easy- to-access garage
• A good sized ground floor courtyard
Apartment Hints
• Check the community charge fees
• Buy south facing or facing the sea
• make absolutely sure you've dedicated parking
• Ensure that the common parts are attractive and well maintained maintanence
• Watch out for poor build quality and sound proofing
Nick Snelling is a published author, freelance journalist and director of Spanish Goodlife.com. A selection of his recent articles on Spain can be seen on http://www.nicholassnelling.com
