Are you interested in investing in property in Spain?
Many of us would love to own a villa in the sun, but it is important to know what you are getting yourself into and make a sensible decision for your future.
Here we offer some top tips that you need to know before you consider buying a property in Spain.
Understand why you are buying
Before you make your Spanish property purchase it is important to understand why you are buying. There are many reasons to buy in Spain, including as a holiday home, a future retirement property, and simply a place to relocate to abroad.
Knowing which option is your reason for buying can help you make the decisions that you need to make.
For example, if you are buying a holiday home that you are going to rent out, you need to consider that other people will want to stay in too. So, the decisions regarding the location, style and layout cannot be purely based around your preferences.
Prioritise location in your decision
Just like in the UK, the location of your property is probably the number one defining factor in its price and attractiveness.
Compromising and choosing a location because it is cheap will likely lead to you enjoying the property less and finding it more difficult to sell in the future. Remember that a property can always be improved, but it cannot be moved.
Work with a lawyer you can trust
One of the most important things that you need to do before you buy a Spanish property is to find a high-quality lawyer who specialises in Spanish land law (
Spain is a country where you can come against quite a level of bureaucracy and complicated legal procedures so it is important to have a lawyer who you can trust to carry out the details and checks thoroughly and properly.
A standard property conveyancer in the UK does not have the specialist skills or qualifications required to carry out this sort of transaction. And having a full grasp of Spanish is also important, so if possible, work with a lawyer who can speak fluent Spanish and English.
You can get incredible value building your dream villa
If you are looking to buy your dream property in Spain, you might be surprised to learn how affordable and simple it is to build it yourself.
There are many experience Spanish property builders who can carry out the whole task for you – once again if you are opting for this then you would be best served choosing a builder with fluent English and Spanish.
There are many things to think about including purchasing land, getting a licence to build and dealing with complicated local and governmental taxes – but if you can manage you can easily create a stunning property to your exact specifications.
Be aware of issues such as asbestos
If you believe you have found the perfect property for your needs, don’t overlook issues like getting an in-depth survey carried out in order to understand the nature of the building materials.
Any property built before 2001 could contain asbestos, and you don’t want to be in a position where you need to pay for removal.
Asbestos was banned from use and distribution in Spain in 2001 due to the range of negative health risks associated with the material. However, it can still be found in Spanish properties that were built before the ban came into place.
Much like in UK, where asbestos was widely used through the 1970s and 1980s, asbestos was utilised far a variety of different reasons and usages across Spain. This means that it could still be present in the properties that you are looking at. Be sure to have a full survey carried out to look for any asbestos that could be present.
Research the estate agent
It is important that you put time and research into the estate agent that you are buying through. Not all Spanish estate agents are as reputable as others.
Make sure that the estate agent you are buying through has genuine offices and a good history of selling high quality properties. Take your time with decisions – if you feel that you are being rushed, there’s probably a reason for that.
