Of course Spanish home buying is a big deal, but it doesn’t have to be difficult.
People buy Spanish homes for many different reasons. Most buy for the sole purpose of living in a warm climate and a relaxed lifestyle, others use the home buying market as an investment tool, and some even use the margins inherent in real estate transactions as their daily income.
There are many factors one needs to consider when buying a Spanish home, whether to live in or as an investment opportunity.
First and most important is do the research. Know what you’re buying.
One of the most important factors to research when buying a home is location. North, South, East or West, Region, and even down to a specific neighbourhood should all be considered carefully.
We’ve heard it said over and over again. “Location, Location, Location”
So why is location so important? Well, unless you plan to live in the home forever, eventually, you or your estate will want to sell it. You want the home to appreciate in value. You also want to be able to sell quickly. What you don’t want is a for sale sign sitting fixed to your property for years to come.
It doesn’t matter how wonderful your property is, you’ll have a very difficult time trying to sell your home for top money in a bad neighbourhood in a reasonable amount of time. This doesn’t necessarily mean that it’s a bad home. It simply means that there will be less demand. That’s not what you want when you decide or have to sell your house.
One needs to apply a neighbourhood litmus test when buying a home. Things to consider include schools, nearby growth and development, and convenience. This information can also be found on the Internet. If all else fails, real estate agents who know the area well can be very helpful. The value of your home will appreciate much more if it is located in a neighbourhood that has great infrastructure and services.
New construction nearby also plays a great role in improving the value of a house and should definitely be considered when buying a house. A neighbourhood which is on the outskirts of a new development will benefit from the higher prices of the newly constructed homes. If, however, the neighbourhood exhibits signs of decline, one should think twice before buying that house.
One other item to consider when looking for a house for sale is it’s proximity to places of convenience like shopping centres, transportation links, medical centres and parks. Remember, someone else will be house buying from you in the future. It will happen. And… They will be looking at the same factors at that time.