 Buying
Property in
Spain
10. And finally ... !
Hopefully the fact that you've come this far indicates that
you're still keen on the idea of venturing into the Spanish
property market.
My intention has never been to deter you - solely to forearm
you.
You've read about some of the many pitfalls about buying in
Spain and you still want to proceed. That's great news.
Now I'm going to give you one last piece of advice which echoes
the subject of my first tip to you - the all important issue
of choosing the right location.
Of course you should move forward with the utmost optimism,
confident of making a total success of your Spanish property
venture. And I'm wholly confident that if you follow the advice
I've given you over the last two months, together with the
many extra tips contained in my ebook, nothing will go wrong
in a legal or practical sense.
But consider this point. However confident of success you
may be, there are a number of reasons why you may be forced
to return to your native country (this of course applies to
those planning a permanent move to Spain). Either you or your
partner may be unfortunate enough to be afflicted with ill
health which makes you want to return to your own country.
Family circumstances back home may prompt your return or you
may simply find yourself unsuited to the ex-pat lifestyle.
Whatever the reason, if you do decide to leave Spain the decision
will be made easier knowing that you're sitting on a goldmine
and that at least you won't suffer financially.
So unless you're one of those lucky few for whom money is
no object, think carefully about the potential resale value
of your chosen property. Is it in an area where house prices
are rising and likely to continue that way? Is it the sort
of property that would sell easily? Does it have good letting
potential which automatically makes it more sellable?
You can't go far wrong, for example, with an attractive three-bedroom
villa with a swimming pool (or room for one) near one of the
popular tourist resorts on the Costa Blanca or Costa del Sol.
Unless there's something seriously wrong with the property
or you paid an extortionate amount for it in the first place,
you've got a pretty good chance of reselling it for a sizeable
profit in a few years time.
But if you go for a charming ruin in an idyllic mountain setting
miles away from the coastline you're going to have much more
difficulty finding that discerning buyer who feels just as
passionately about it as you did when you first saw it.
Getting the location wrong can be a costly mistake. Maybe
you like Spain but feel you'd be happier in another area and
a different type of property. But remember that each Spanish
property purchase entails extra costs of around 10%. So if
you sell quickly and buy another property you may find any
profits will be swallowed up in fees and taxes.
Ideally, you should follow my earlier advice and rent a property
for at least a few weeks, preferably months, in your chosen
area before making a purchase decision.
A useful tip on assessing the letting potential of properties
in different areas is to check out the web sites of holiday
rental sites which have availability charts. A quick look through
some of the charts will show you which types of property and
which areas are most popular.
Study the adverts of those properties which have a fully booked
rental season and gather clues to their success. You'll find
the most successful holiday property owners have a winning
formula of good location, excellent facilities and affordable
price.
Here's a couple of holiday villa sites with availability charts
which you may want to take a look at:
http://www.villarama.com
http://www.holiday-rentals.co.uk
Well, that's all folks! Except to say that if you still haven't
read my ebook, here's another chance to learn all the insider
secrets guaranteed to protect you against the pitfalls of buying
property in Spain.
You can purchase the book on-line and receive your copy within
minutes. I firmly believe you'll find the book invaluable if
you're serious about buying a Spanish property. Anyway, you've
got nothing to lose because I give you my personal guarantee
that if you're not entirely satisfied with it, I'll refund
your money in full.
Content for these pages is © Ann Knight, all rights reserved.
Related Links
Andalucia Real
Estate - Property for sale in Andalucia.
Buying
a property in Spain - Ann's own site promting her book.
Properties
In Europe - European property portal with a searchable
database of properties to buy and rent in France, Spain,
Italy and Portugal. Includes for French, Spanish, Italian
and Portuguese properties.
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