Buying Spanish Property "The Top 5 Vital Mistakes People Make
When you are thinking about buying Spanish property there are heaps of issues. The key ones should be location, price and quality of course but even after considering these top 3 considerations you still have to avoid making the basic mistakes that any person can make if they are not advised correctly.
Let's take a look at them in turn.
1) Not employing an independent barrister
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a counsel.
We usually suggest a selection of counsels to our customers, lawyers who talk the language the client is confortable with. We've got a list of reputable lawyers and listen to me many have been struck off that list for numerous nefarious activities such as not answering mails quick enough or not being clear on the specifics and details. Thus the counsels we suggest can be blunt to the point of discomfort but at least they get the task finished quickly , efficiently and effectively.
2) Not thinking about the lifestyle you would like and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it may just have a base structural problem. However it is nice doesn't it? And looks are all that counts aren't they? A survey can be done relatively cheaply nevertheless it may protect you from making a huge mistake. Ask me for suggestions because I know of 2 very good surveyors in the neighborhood and I will put you in touch with both.
4) Overstretching a budget.
The gigantic fault. If your position is 200k then your budget is 200k not 220k, not 240k and actually not 330k. If you can get what you want for 150k although your budget is 200k then get it, and if you can get your property for 120k based on your lifestyle considerations then do it. You don't need to show off in dinner parties saying "Well of course our property was lots more expensive than yours". The life-style is the key and if you have cash to spend after buying instead of having to scrimp and save each last penny for the rest of time then your life in Spain will be so much better.
5) Leaving your cortex on that famous plane
During the boom years agents became realtors because so many people left their brain on the plane. Selling was easy and any piece of rubbish might be sold at costs that were way over what their implicit worth was. Folks would frequently get off the plane, get picked up and taken straight to a property or 2 and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
Most of those people got burnt and left Spain two years on with their wallets considerably lighter and heavily chastened by the experience. The reason Why I have 100 videos preparing you to live in Spain, a blog with posts like this one, a twitter account and a Facebook page is so you avoid the mistakes. You can follow and get information, ask me anything about the market and also get some great understanding of what it is really like living in Spain.
Without that info the general want of "I need to move to Spain" means nothing. You won't do it or even worse you'll but you won't do it properly. You should do the investigation and seriously nowadays there is no excuse for not doing so particularly when you consider the investment you will be making. Stupidity can be a costly mistake.
Let's take a look at them in turn.
1) Not employing an independent barrister
Never use the counsel the developer tells you to. Never employ a barrister who does not talk your language. Never employ a barrister you have got a gut feeling about that isn't good.
Always employ a counsel.
We usually suggest a selection of counsels to our customers, lawyers who talk the language the client is confortable with. We've got a list of reputable lawyers and listen to me many have been struck off that list for numerous nefarious activities such as not answering mails quick enough or not being clear on the specifics and details. Thus the counsels we suggest can be blunt to the point of discomfort but at least they get the task finished quickly , efficiently and effectively.
2) Not thinking about the lifestyle you would like and only considering the property
Folks fall madly in love with a property but what they are truly looking for is a change of lifestyle. The property should complement the way of life. If you adore going out in the town and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then don't buy a home in the sticks with no public transport whether or not it has some lovely bougainvillea climbing up the crumbling outside wall.
If you adore the tranquility of the country then firstly don't buy a city flat, Valencia is loud at the quietest of times. Second, be sure to bring those silent dog whistle things you can get from the Regiment and Navy stores in the UK as the chorus of dogs chatting at nights in several areas can be immediately shut up
3) Not getting a survey done
That bougainvillea covered wall? You know it may just have a base structural problem. However it is nice doesn't it? And looks are all that counts aren't they? A survey can be done relatively cheaply nevertheless it may protect you from making a huge mistake. Ask me for suggestions because I know of 2 very good surveyors in the neighborhood and I will put you in touch with both.
4) Overstretching a budget.
The gigantic fault. If your position is 200k then your budget is 200k not 220k, not 240k and actually not 330k. If you can get what you want for 150k although your budget is 200k then get it, and if you can get your property for 120k based on your lifestyle considerations then do it. You don't need to show off in dinner parties saying "Well of course our property was lots more expensive than yours". The life-style is the key and if you have cash to spend after buying instead of having to scrimp and save each last penny for the rest of time then your life in Spain will be so much better.
5) Leaving your cortex on that famous plane
During the boom years agents became realtors because so many people left their brain on the plane. Selling was easy and any piece of rubbish might be sold at costs that were way over what their implicit worth was. Folks would frequently get off the plane, get picked up and taken straight to a property or 2 and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
Most of those people got burnt and left Spain two years on with their wallets considerably lighter and heavily chastened by the experience. The reason Why I have 100 videos preparing you to live in Spain, a blog with posts like this one, a twitter account and a Facebook page is so you avoid the mistakes. You can follow and get information, ask me anything about the market and also get some great understanding of what it is really like living in Spain.
Without that info the general want of "I need to move to Spain" means nothing. You won't do it or even worse you'll but you won't do it properly. You should do the investigation and seriously nowadays there is no excuse for not doing so particularly when you consider the investment you will be making. Stupidity can be a costly mistake.
About the Author:
Graham Hunt is an estate agent in Valencia. He lists his properties for sale in Spain at Valencia Property and his blog where he talks about all aspects of moving to and living in Spain is Houses for Sale In Spain