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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:

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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Hotels in Spain

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Organised Tours in Spain

Buying property in Spain

Choosing the right location

Buying as an investment

Must I use an agent?

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Buying "off-plan"

The importance of learning Spanish

Retiring in Spain

Buying with a community

Costs of buying

And finally ....

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