Real Estate Ciudad Quesada Rojales
7 mistakes to avoid when buying property in Spain
For many buying a property in Spain is their retirement dream. For others it's a holiday destination. Some perhaps are looking for a profitable investment. Whichever is the motive, try to avoid the mistakes everybody makes.
When thinking in buying a property in Spain what many times comes to mind is the picture of a calm and secluded place away for the noise, in short, a place to relax. The motives are always going to be personal. And the truth is Spain offers a good list of advantages for buying a property: pleasant weather, inexpensive cost of living and a Mediterranean lifestyle. Here you have the desirable conditions to enjoy the things that truly matters.
However, not everyone that decides to buy a house in Spain makes the right choices. Frequently many mistakes are made in the research and buying process of properties. Ideally we want to avoid these. Buying a house involves a big expense and we want warranties.
In Petra Honig we provide you a list of the common mistakes, so try avoiding them.
1. Impulsive buying.
To get infatuated with a property and buying it without considering the pros and cons, merely because on one occasion we had a fantastic day at our friend's pool, tends to end into a flawed purchase. Although currently Spanish real estate market is very attractive for its price, it is convinient to take all the steps and ponder properly the purchase.
2. Not knowing the area.
Many property buyers in Spain don't know anybody in the region apart from the owner of the house or the real estate agent. It is advisable to be well informed of the area, if possible by somebody you already know. If at the time you don´t know anybody, new technologies allows you to meet people from a specific place who will surely give you information about the area, services, benefits and risks.
3. Not taking into account maintenance costs.
A swimming pool is fantastic for summer, the same with having a green grass in our garden, but both have a maintenance cost that we need to take into account even if we don't spend in the property most of the year. The same for the community fees owners must pay. It is important to always keep in mind these costs when buying.
4. Buying a property beyond our means.
It is very important to know the resources we have available in realistic terms in order to be able to use them in a smart way. Sometimes buying a property we've set our mind to can lead us in being financially too tied. If an unforeseen event happened we could end up stuck in a unwanted situation.
5. Choosing a property in an area poorly developed.
In the times of the real estate boom many areas suffered from an excess in construction and in the marketing of properties. Occasionally, it was built in remote areas or poorly developed. To drive through an inaccessible path it can look great on paper but perhaps will be tiring after driving it a few times. A lot of people don't make a use of their second home because they can't be bothered to get there. Think about this aspect when you made up your head on the new house.
6. Overlooking changes in the family.
There is people that only think in the present and don't realise the future is closer than they expect. Perhaps not seeing soon their twenty-something kids will have a partner and/or kids and more space will be needed if we don't want to stop seeing them on holiday, it could also lead us to a wrong purchase. Five years from now, will a full family fit into a one bed apartment with a sofa-bed in the living room?
7. Picking a too big property.
On the other side, some family man will buy a retirement house with too many rooms thinking in those times their children and grandchildren will visit, which perhaps will occur one week per year or even less. The rest of the year most of the house is empty, which involves costs. Would it not compensate in some cases to rent a house nearby or staying at the closest hotel?
Petra Honig is your Real Estate Agency in Ciudad Quesada, Guardamar and Villamartin.
Take a few moments to browse through our unique catalogue of properties, where you will find the latest and finest selection of properties in and around Quesada, Villamartin, Orihuela Costa and Guardamar.
Our experienced multi-lingual staff based in our Quesada head office and Villamartin offices on the Costa Blanca will be able to help you with every aspect of your Spanish property purchase.
In Petra Honig, from your first contact with us we will endeavour to identify your requirements and provide you with relevant options that fall within your budget and will help you find the best value for your money that is currently available when buying a Spanish property. We specialise in both Resale and Brand new homes, to suit all budgets, both on the coast of the Costa Blanca and further in land.