Los Balcones Torrevieja Property for Sale
7 tips to buy property on the Costa Blanca in 2017
Although the real estate market has improved a lot in the last two years, before starting to buy it is advisable that you take into account these 7 tips.
2017 is a great time to invest because the price of housing has bottomed out in Spain, especially in large cities and in coastal areas. In this article we give you 7 tips to keep you going.
1. Choose the house with the greatest capacity to revalue.
Even if the property is not going to be used for investment, it is convenient to analyse the existing growth prospects in the different areas in which we are interested in buying. There will be more dynamic areas in which the value of our home grows more in less time.
2. Choose the best mortgage offered by the market.
The current situation offers favourable mortgage conditions for the buyer. It is convenient to study the different options carefully to choose the one that suits us best.
3. The monthly payment of your mortgage should not exceed 30% of your net income.
One of the main problems of the real estate bubble was that home buyers in many cases were indebted to their possibilities. To avoid this, you should try to make sure that the monthly mortgage payments in your home do not exceed 30% of your income.
4. Choose the type of home that suits you best.
If you are going to invest maybe a second hand property to reform, to rent it. However, if you plan to live in it, maybe it will pay you to look at a new home. The prices of this type of housing are no longer as high as during the real estate bubble, and by buying flat you can be sure to pay much less.
5. Location is key when buying.
Whether it is to live or to rent, factors such as the existence of public transport, green areas, the proximity of shops or educational centres will always keep your investment up.
6. Calculate the expenses of the neighborhood community.
If these are very high, or are distributed among very few neighbours, you will incur monthly payments that will significantly increase the investment or make it less profitable.
7. Do not rush with the decision. Everything in its time.
So important is to know the market objectively before making a decision, as giving a quick response when the occasion arises. Rush, or let the occasion pass, will give the fret a good investment opportunity.
Petra Hönig puts at your disposal in Los Balcones, Torrevieja, property for sale.
Take a look at our property catalogue in Costa Blanca, where you will find a selection of unparalleled properties in Torrevieja, Ciudad Quesada, Villamartin, Guardamar or Orihuela Costa.
Our team of real estate agents speak several languages, so we will be able to help you with any aspect related to the sale of your home.
From the moment you contact us, we strive to understand your preferences to provide you with the options that best fit your budget and help you maximize your investment. We are specialized in resale properties as well as new construction, of all types of budget, both in the areas of the Costa Blanca and in the interior.