It has become fashionable for foreigners to buy properties in Spain. The reason for such popularity is that the country offers a delightful and excellent climate conducive to healthy and relaxing living. Aside from that, the government has made a significant effort to lure more foreign tourists and residents to the country.
For many years, tourism has been the biggest contributor to the Spanish economy. If you are planning to buy a property in Spain, this is a great time because interest rates in Europe are low post-Covid. So do not waste time and grab the opportunity for a bargain property while you can.
With Spain’s amazing culture and rich heritage, you will never run out of places to go, people to meet, or outdoor activities to enjoy. Spanish people have a great love for the arts, and the sprawling hills and countryside offers a perfect choice for an idealistic vacation or a retirement home.
Many tourists have fallen in love with Spain, and why not! Certain things undeniably and quintessentially portray a country, and Spain has more than its fair share of attractions. Celebrating everything from varied cultures, from cuisine through to its history, there’s a lengthy list of iconic wonders that are embedded firmly into the country’s DNA.
Life-changing decisions and huge purchases such as buying a property need a lot of conferring and considering before being acted upon. But it is no wonder so many people consider Spain as a second or first residence. If you are thinking about, or in the middle of purchasing a property in Spain, congratulations are in order. You are making a choice that will change your life for the better.
If you are interested in buying a property in Spain, the best way forward is to consult one of the many real estate agents based in Spain or check out property portals with a range of properties for sale. But before you do this, be aware some foreigners have experienced painful experiences with disastrous transactions. Many times, foreigners rush ahead with no clear idea regarding the property they are buying.
Follow these guidelines and tips on how to purchase property safely and get a fair and satisfactory deal.
- Determine your budget and stick to it.
- Before deciding, be sure to have visited the property in person at least twice.
- Know what amenities are installed on the property.
- Consult an architect or a contractor to check out the building structure.
- Consult with residents around your prospective property.
- Consult a property lawyer to review the ownership of the property before signing a contract.
- Learn about the different regions.
- Study prices. Like in most countries, the larger cities such as Madrid and Barcelona can be expensive.
- Use a licensed lawyer and a notary.
- Try to learn some Spanish beforehand.
- Make sure it is what you really want.
- Where applicable, hire a financial adviser.
- Have a trusted and reputable agent helping you through the process.
- Study the buying process. Even with professionals working on your behalf, it is good to know each stage of the buying process.
- Learn about exchange rates. Using a currency exchange service can save you a large amount of money.
Study your employment status and financial situation to make sure you can afford it, not only now but several years in the future.
Discuss the decision with your family to make sure they are on board. Their lives will also change, so make sure everyone agrees.
After weighing up the pros and cons, and decide buying is the right choice, be sure that you are financially, physically, and emotionally set.
“When in Spain, Do what the Spaniards do.” before leaving for Spain, try to study the culture of Spain, as many foreigners tend to forget this point, and they stick out like a sore thumb. Try also to learn about their laws. This will save you a lot of hassle in the end.
After all that, you can go on and start living a wonderful laidback relaxing life. Sit back, relax, and enjoy your new life as a Spanish resident with a good glass of wine in your hand and the rolling hills of Spain or sandy beaches as your front yard.