Are you buying a home in Spain? Find here the best tips
Two days ago, we wrote about the basic tips to keep in mind when it comes to sell a property. Today we bring you the best recommendations if you are not selling but buying a home in Spain (but most of the tips are worldwide applicable).
- Clear ideas. The acquisition of a property is one of the most important decision in life for most of us, so think twice which kind of home you wish live in, the area, your budget for reforming works, the taxes you’ll have to pay and the part of the city where you want to live. It seems obvious, but is never a bad idea to write in a brief text all this basic but important aspects before to start your search.
- If you already have chosen your dream home, you should consider the economic aspects in deep. Get informed about the costs of the administrative processes and taxes. Save a percentage to pay the costs in terms of legal advisors, registrations, local taxes, extra costs and other aspects is always important.
- If you are going to ask for a bank mortgage, it is important to know if the bank establishes a commission for early cancellation or if includes a so-called “floor clause”. Read twice before sign, and if possible ask an expert opinion.
- Investigate a bit the property. You must ask in the public record (El Registro de la Propiedad) if the property has any tax payment associated that has not been payed already by the current owner, or even if he or she has accomplished totally the payment of any mortgage linked to the home.
- Another small but relevant tips are checking the neighbourhood to see how the ambience is (especially during the night), to know how much communal payments you must to pay (quite common in flats), the communal rules, the amenities and services surrounding the area. Also, it is important to check the orientation to avoid an excessive exposure to high or low temperatures in summer and winter. Even talk with the direct neighbours to detect their personality and identify in advance any lack of reciprocal “feeling” is important.