When you're thinking of purchasing Spanish property there are a lot of considerations. The main ones should be location, quality and price naturally but even after debating these top three points to consider you still need to avoid making the basic mistakes that anyone can make if they aren't suggested in the right way.
Let's look at them in turn.
1) Not employing an independent counsel
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 barrister.
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 pondering the life-style you need 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 could have a basal structural problem. However it looks nice doesn't it? And looks are all that counts aren't they? A survey can be done relatively cost-effectively but it may protect you from making a big mistake. Ask me for suggestions because I know of 2 excellent surveyors in the neighborhood and I'm going to 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 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 enquiry, no thought of structural integrity and no thoughts of price.
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 look at them in turn.
1) Not employing an independent counsel
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 barrister.
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 pondering the life-style you need 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 could have a basal structural problem. However it looks nice doesn't it? And looks are all that counts aren't they? A survey can be done relatively cost-effectively but it may protect you from making a big mistake. Ask me for suggestions because I know of 2 excellent surveyors in the neighborhood and I'm going to 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 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 enquiry, no thought of structural integrity and no thoughts of price.
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 every aspect of moving to and living in Spain is Houses for Sale In Spain
0 comments:
Post a Comment