Mistakes to Avoid when Buying Property in Spain

We are in no way shape or form trying to deter you from buying property in Spain with this article. Contrary to that, we think you should, as long as you do it safely. Although there are plenty of villas for sale Javea that offer you great investment opportunities and a doorway to a new life in a warmer part of the world, the Spanish property market can be one that is tricky to maneuver and navigate through if you are unfamiliar with it. Therefore, we’ve put this article together to help you avoid some of the most common mistakes others have made in the past when buying in Spain.

Choosing the Wrong Location

You need to choose the property you buy carefully. It’s easy to fall head over heels for a property and give little or no thought to whether the community it is based will suit your personality or if there are enough amenities available. Research locations thoroughly and seek out the advice of local solicitors and real estate agencies.

Budget Properly for All Costs

Some people make the mistake of thinking that it’s just the cost of the house they need to budget for. There are various other costs involved too that you need to be aware of, including Spanish Land Registry and Notary, property taxes and of course the legal fees. You should always aim to have a buffer of at least 13 to 15{e05b7d0b52d4f7e61c3898faef7e21653720464b1eb573a25bbbfb08735b5bcd} on top of the property value to cover all those extra charges and fees.

Lost in Translation

It’s crucial that you find a solicitor to help and advise you who has Spanish property experience, this much is true. However, it is just as important to find a solicitor that can speak English well enough that you understand him completely. Many in the past have not given this side of things much thought and then suffered financially because they couldn’t understand the finer points of what the lawyer was explaining to them.

Avoid Buying Too Quickly

Too many people think that this is a time-sensitive process and they will often fly over to look at properties and then feel as if they have to buy one before they go back home. The more pressure you place on yourself to buy property quickly, the more likely you are to make a terrible mistake. It is highly unlikely that you are going to lose out on your potential dream property because you didn’t buy it the moment you saw it.

Never Sign Anything You Don’t Understand

You’d be surprised how many people will sign things without ensuring they understand them completely. Even if you don’t understand a contract, you should always make sure it is looked over thoroughly by someone who can explain it to you and who has your interests in mind, not the buyers.

It doesn’t have to be a disaster – buying property in Spain. There are many thousands of people who have done it successfully without major mistakes. However, if you fail to take the right sort of precautions and care and just dive head first into it without thinking, you are going to make expensive mistakes. That’s why it’s best to heed the advice above.