Buy vacation property in Spain
Buy vacation property in Spain
Buy vacation property in Spain
Summer, sun, beach - and best of all within your own four walls. Many a vacationer in Spain is blown away by the weather, the great scenery and the quality of life and therefore wants to invest his money in a local property. The purchase of a vacation property wants to be however well considered.
The most important point: The financing
It must be clear to one that one commits oneself with the financing of such an object over years. Especially in the case of real estate abroad, all contracts should be particularly checked. It is helpful if one speaks the national language.
When planning, it is important to calculate well. An own contribution is advantageous, because banks and credit portals offer better conditions for loans, if a certain percentage of equity is available. But of course it also works without.
However, German banks find it difficult to finance foreign real estate if there is insufficient collateral. If you calculate the conditions too tightly, so that you would have to cut back in everyday life, the financing must be reconsidered.
Finding the right property
In order to find the right vacation home in Spain, one should first be clear about the exact region where the house is to be located. Also the size plays a role. Should it be only for oneself? Should there be room for children and grandchildren? Should it be rented out?
It therefore makes sense to make a list of Spanish vacation homes sorted by characteristics that come into question. The mainland of Spain, for example, is still easy to reach by car.
If you want to go to one of the islands like Mallorca or Ibiza, you always have to take a flight into account. It is important to compare different fincas. A house love at first sight can also go sometimes in the eye.
Therefore, it is important to have at least one comparison object. The more houses with different equipment you have looked at, the better you can estimate the price.
Advantages and disadvantages should be weighed and one must not be put under pressure that the dream house, if one does not strike immediately, possibly elsewhere is sold.
Especially the choice of the region is important in order to be able to enjoy the property for many years and, if it is to be rented to a third party, to have it in an attractive location. The rental income can fluctuate greatly. Good connections to popular destinations also play a role.
Visit vacation homes on site
It is associated with effort, but to look at the vacation homes in Spain on the spot is quite crucial. Only after the exposé of a broker from Germany to buy an object, holds many risks. Many things can be glossed over on photos.
If the property needs to be renovated, it is important to calculate the costs correctly in advance. If the need for renovation is incorrectly estimated, the financing can become unmanageable.
It should be in Spain absolutely a trustworthy specialist with the house inspection. In southern countries, houses are built to different standards than houses in Germany. How are supply lines for water and electricity installed? Is the statics safe?
Also whether the power supply is up to date, whether water from the mountains could become a problem for the house and how it looks with the topic heating, if the house is to be used also in winter, are important aspects before a purchase.
All these questions can only be clarified and estimated by a Spanish expert on site. Law and order are sometimes interpreted more generously by people in Spain than here in Germany.
Also arrangements with craftsmen do not run necessarily so in time, as one may be used to it from past renovations. Good contacts and a person of trust, who seriously takes care of it in the absence of the owners, can be absolutely worth their weight in gold.
Looking into the corresponding land register entry and clarifying whether it is a legally built house is also quite appropriate abroad, otherwise high penalties may be due.
Obtain information about the property
To assess whether the Spanish finca is still the dream house after the first summer, it helps to get information about the surrounding area. How far away is the sea, where are the shopping facilities, how are the transport connections?
The older you get, the shorter the distances should be. If children are also to use the property, a nearby beach is an advantage. In many vacation regions, the development is very dense. You should therefore also look at the neighboring houses.
If vacation house stands next to vacation house, there is the danger that outside the season a whole residential area stands empty and becomes attractive for shady characters. Furthermore, one must not be blinded by the wonderful summer feeling.
In winter, the situation is quite different. Some regions are literally extinct. Therefore, inhabited settlements are much better all year round. A lonely finca far away from the city is indeed very inviting at first sight in summer.
Without a security service or watchful neighbors looking after the property, you will not enjoy it for long. Looking for a property out of season also gives you the opportunity to find out if you would like to stay at a time other than summer.
Many restaurants, bars or other attractions are only open during the peak season. Depending on the region, this can make a purchased finca very unattractive outside of this time.
The dream of a vacation property in Spain on the island of Mallorca will only come true if you do not approach the matter too naive. To decide at short notice in a vacation for a property or to go only from a distance after an exposé, can go into the eye.
Many aspects should be better considered so that the project does not become a nightmare. Experiences of other homeowners in Spain can help to think also of official pitfalls.
To speak the national language brings already in the apron of a purchase many advantages. Even better are acquaintances with locals in the desired location. They can also keep an eye on the finca in the absence of the owners or help with arranging craftsmen or official business.
Mallorca Real Estate
provided by www.hoome.com
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