Purchasing Spanish Property "The Top 5 Crucial Mistakes Clients Often 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 lawyer the developer tells you to. Never utilize a counsel who does not talk your language. Never employ a counsel you've got a gut hunch 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 brooding about the way of life you want and only considering the property
Folk fall completely in love with a property but what they are actually attempting to find is a change of way of life. The property should counterpoint the lifestyle. If you love going out in the city and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then do not buy a house in the sticks with no public transport regardless of if it has some beautiful bougainvillea climbing up the crumbling outside wall.
If you like the tranquillity of the countryside then first do not buy a town flat, Valencia is loud at the quietest of times. Secondly, make sure to bring those silent dog whistle things it is easy to get from the Division and Navy stores in Great Britain as the chorus of dogs talking at nights in many areas can be instantly 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 large fault. If your financial position is 200k then your financial position is 200k not 220k, not 240k and definitely not 330k. If you can get what you need for 150k even though your position is 200k then get it, and if you can get your property for 120k based mostly on your way of life concerns then do it. You do not need to show off in dinner parties announcing "Well naturally our property was a lot more costly than yours". The way of living is the key and if you have cash to splash after purchasing rather than having to scrimp and save every last penny for the remainder of time then your life in Spain will be much better.
5) Leaving your grey matter on that famous plane
During the boom years realtors became estate agents because so many folks left their brain on the airplane. Selling was simple and any piece of rubbish may be sold at prices that were way over what their inherent price was. Folk would regularly get off the airplane, be picked up and taken direct to a property or two and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
The majority of those folks got burnt and left Spain 2 years after with their wallets significantly lighter and heavily chastened by the experience. The explanation Why I have 100 videos helping you to prepare to live in Spain, a blog with posts such as this one, a twitter account and a Facebook page is so that you avoid the fluffs. You can follow and get info, ask me anything about the market and also get some great insight into what it is truly like living in Spain.
Without that information the general wish of "I desire to head to Spain" means nothing. You will not do it or perhaps worse you will but you will not do it right. You must do the inquiry and seriously these days there's no excuse for not doing so especially when you think about the investment you'll be making. Ignorance can be a dear mistake.
Let's take a look at them in turn.
1) Not employing an independent barrister
Never use the lawyer the developer tells you to. Never utilize a counsel who does not talk your language. Never employ a counsel you've got a gut hunch 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 brooding about the way of life you want and only considering the property
Folk fall completely in love with a property but what they are actually attempting to find is a change of way of life. The property should counterpoint the lifestyle. If you love going out in the city and walking round in the middle of the night taking in the sights and having cocktails at lounge bars then do not buy a house in the sticks with no public transport regardless of if it has some beautiful bougainvillea climbing up the crumbling outside wall.
If you like the tranquillity of the countryside then first do not buy a town flat, Valencia is loud at the quietest of times. Secondly, make sure to bring those silent dog whistle things it is easy to get from the Division and Navy stores in Great Britain as the chorus of dogs talking at nights in many areas can be instantly 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 large fault. If your financial position is 200k then your financial position is 200k not 220k, not 240k and definitely not 330k. If you can get what you need for 150k even though your position is 200k then get it, and if you can get your property for 120k based mostly on your way of life concerns then do it. You do not need to show off in dinner parties announcing "Well naturally our property was a lot more costly than yours". The way of living is the key and if you have cash to splash after purchasing rather than having to scrimp and save every last penny for the remainder of time then your life in Spain will be much better.
5) Leaving your grey matter on that famous plane
During the boom years realtors became estate agents because so many folks left their brain on the airplane. Selling was simple and any piece of rubbish may be sold at prices that were way over what their inherent price was. Folk would regularly get off the airplane, be picked up and taken direct to a property or two and buy them.
No consultation, no investigation, no thought of structural integrity and no thoughts of cost.
The majority of those folks got burnt and left Spain 2 years after with their wallets significantly lighter and heavily chastened by the experience. The explanation Why I have 100 videos helping you to prepare to live in Spain, a blog with posts such as this one, a twitter account and a Facebook page is so that you avoid the fluffs. You can follow and get info, ask me anything about the market and also get some great insight into what it is truly like living in Spain.
Without that information the general wish of "I desire to head to Spain" means nothing. You will not do it or perhaps worse you will but you will not do it right. You must do the inquiry and seriously these days there's no excuse for not doing so especially when you think about the investment you'll be making. Ignorance can be a dear 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 every aspect of moving to and living in Spain is Houses for Sale In Spain