Bookmark and Share

Purchasing A House Or Apartment In Costa Del Sol Spain

Free PDF eBook!

Enter Your First Name
and Email Address to Download

Name:
Email:
 

Investing in property in Spain has become very popular. There is no shortage of real estate agents in Spain but make sure you deal with a reputable one. There is a very wide selection of standards, from farmhouses (fincas) and plots through to luxury villas, townhouses and flats.

Due to low European interest rates, this is a great time to consider Spanish real estate. Tourism is a huge part of the Spanish economy and this is reflected in the investment in this industry.

The country has a pleasant, healthy climate and in recent years the local authorities have made great efforts to increase the number foreign tourists and residents.

Prior to buying a property you should take a look at the different areas then view your favorites before making a final decision. To play it safe you could also rent a property for a few months in that area first.

A checklist to get the most out of foreign property deals:

1) Have a builder or architect evaluate the integrity of the property.
2) Have your solicitor check outstanding debts on the property before parting with any money.
3) Talk to your prospective neighbours about the area.
4) Take photographs and draw sketches to take home with you.
5) Explore the property at least twice before you make a decision.
6) set your budget limit and stick to your initial financial estimate.
7) Check what amenities the property has for instance power, water, gas.

Up-front costs for purchasing in Spain

It is usually the case that the buyer also pays the sellers fees. As well as the cost of the property, the buyer will be liable for transfer tax (IVA), plus 1/2% stamp duty. The property registration office will charge you a fee to change the new deeds . This is usually around 300€. The charge is on a scale depending on the contract price. Banks may also charge an additional percentage for arranging the mortgage. In total you should allow 10% of the purchase price for costs.

Though initially it seems complicated, compared to the property purchasing requirements in your own country, the property purchasing process in Spain is reasonably simple once you become accustomed to it.



 

Real Estate Videos and More Articles

Loading...

Are You Committed To Your Real Estate Investment?

... investment, as they will need to be maintained in order to remain in demand by tenants. You must also make constant efforts to keep these properties managed and filled along with remaining certain that you are collecting your rent each month and that the properties aren't falling into a state of disrepair ...

Flipping A House For Cash

... method of flipping houses is actually easier to accomplish. The third way to flip a house is by assigning the purchase. Using this method, you ll commit to buy the house. Instead of closing the deal yourself, you ll assign it to a real estate investor - of course for a small fee. The investor will take ...

Florida Real Estate

... estate very attractive. So that means Florida real estate or buying a house in Florida is really good for someone who wants to escape the vagaries of weather elsewhere in America and also add to his/her enjoyment through the Miami beach and Orlando theme parks. However, Florida real estate is also attractive ...

Subprime Mortgages

... community well and some areas just don t have the types of jobs that prime mortgages will need to ensure their monthly payments. It can be embarrassing to go to a local bank if you live in a relatively small town so you may want to choose a subprime only lender. A good benefit of a subprime mortgage is ...

More Home Selling Tips

... No home is perfect. You just disclosing and clarifying all the negative facts in your house. - Make a good first impression, by doing some preparations in your exterior, interior, and appliances. - Creating a buying mood, with turn of air conditioner or heater, make some spaces, create coziness, open ...

 

Recommended Real Estate Products






Home |  Free eBook |  Contact Us |  Privacy Policy |  Site Map