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Buying Property in Spain

1. Choosing the right location

You know the famous saying about the three most important things when it comes to buying a property - location, location and location! Yes, we all know it but it's extraordinary how many foreigners buying in Spain miss this fundamental point.

Carried away on a wave of sun, sangria and a pushy sales pitch from a local estate agent, too many people rush in to buying their "dream home" only to find it's in a completely inappropriate location for their needs.

The golden rule is: DON'T make an offer after your first viewing of a property. Make copious notes, take photographs if possible, then go away and think about it with a cool head (after that initial flush of excitement has worn off!).

However much you want the property, think hard about whether there are any drawbacks. Will you be able to have a phone line installed (don't take the agent's word for it!) Is it near to shops, bars, restaurants and other facilities you may regard as essential? Does it have letting potential? What's the area like out of season?

Jot down all the questions which come to mind and go back to visit the property. Put your questions to the estate agent, the owner and preferably someone completely independent. Find a friendly local bar where some of the regulars might be able to give you a better picture of what it's like to live in the area.

Ideally you should make two or three visits to your chosen area at different times of the year. Some Spanish "urbanizaciones", where large numbers of foreigners have their holiday homes, become virtual ghost towns in the winter months. If you're planning to live there all year, you may find yourself feeling a bit isolated from October to April.

A friend of mine, who runs a highly successful holiday letting company on the Costa del Sol, owns and manages several villas. She swears by visiting each villa no less than five times before making a purchase!

That may sound excessive - but when you're buying in a foreign country, where the culture and laws are very different to those of most north European countries, it's much easier to come a cropper. Remember: only fools rush in!

2. Buying as an investment

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.

Book your holiday:

Hotels in Spain

Car Hire in Spain

Organised Tours in Spain

Buying property in Spain

Choosing the right location

Buying as an investment

Must I use an agent?

Must I use a lawyer?

Buying "off-plan"

The importance of learning Spanish

Retiring in Spain

Buying with a community

Costs of buying

And finally ....

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