Buying property in Spain, whether it’s a holiday home, permanent place of residence or an investment opportunity, can present you with a wide range of benefits.
However, if this is your first time investing in foreign property, you’ll naturally feel a little overwhelmed at the process, and may not be aware of all the steps you need to take into consideration before you even view your chosen property.
Andrew Brown Properties is on hand to help, providing everything you need to know about buying property in Spain, and what you need to do before viewing a villa in Mar Menor Golf Resort.
Is now a good time to buy a house in Spain?
Before we begin, it’s beneficial to discuss the current state of the Spanish property market, as naturally, you’ll want to make smart investments at the most optimal times.
Luckily, even despite the pandemic, now is a fantastic time to invest in properties such as luxury villas in all areas of Spain, especially in the Mar Menor area.
After the 2008 credit crisis, the property market has slowly recovered. Additionally, the new Corvera International Airport, which opened in 2019, will see a boom in connectivity and tourism, which savvy investors can still capitalise on in 2021 and beyond.
Additionally, after the COVID-19 pandemic, many people are looking to escape from their normal lives and seek something new, and Mar Menor Golf Resort can directly cater to this desire for something different.
Buying property in Spain after Brexit
Despite the United Kingdom leaving the EU, you still have every right to purchase property abroad, including Spain – there are no rules that prevent non-EU citizens from purchasing property in Spain. In fact, the Spanish government is often seen encouraging non-EU residents to purchase property in Spain.
While the fluctuation of the Pound and Euro can influence how much you can end up paying to buy a property, none of the fundamentals of buying a property in Spain have changed as a result of Brexit, so you can continue with your dream of owning the perfect foreign property in one of the best countries in the world!
Determine your budget
Before you go to see any property, such as a villa for sale on the Mar Menor Golf Resort, you need to ensure that you have considered your budget.
The team at Andrew Brown can work with you to help you determine a budget and to find the perfect property.
Consider whether you want a mortgage, or to buy outright
In the same breath as determining your budget for your new Spanish property, you also have the option of deciding whether you want to mortgage the property, or pay outright, depending on your unique financial situation.
Non-Spanish and non-EU citizens have the right to take out a mortgage to fund their new Spanish property, and so you should ensure to peruse the options available to you.
Be aware of the fees
When it comes to buying property in Spain, the responsibility of covering fees falls on the buyer, and so it’s important you’re aware of all the potential fees you may face before booking your flights to view the villa you’re interested in.
To learn more about some of the expected fees, you can read our buying guide.
If possible, you should try to verify any fees before making a decision.
Decide what you want the property for
For many Brits, owning a property in Spain is the ultimate dream, and can open a plethora of opportunities.
With this in mind, and with so many options available to you, it’s important to pre-determine exactly what you want the property to be used for as this can drastically impact the criteria you need to look for within your chosen property.
For example, a gorgeous villa in Mar Menor Golf Resort can be the perfect holiday home for you and your family to return to every year. You’ll want to make sure it has all your home comforts, while still providing a luxurious experience.
Additionally, you can capitalise on your property investment with buy-to-let, where you can purchase a property and rent it out to individuals either on a short-term or long-term basis. If you choose this option, you’ll want to find a property that has fantastic amenities to entice people to rent from you.
Finally, if you’ve fallen in love with the way of Spanish life, such as the relaxed atmosphere, friendly locals, fantastic food, Blue Flag Beaches, and overall quality of life, and you want to enjoy the lifestyle for the rest of your days, then you can also purchase a villa in Mar Menor Golf Resort to act as your new forever home.
Deciding to relocate to Spain is a huge decision, and so you need to take extra care to ensure your new villa can cater to all your needs as you live out your new life under the Spanish sun.
Depending on what you want the property to be used for, you should look at the listing to see if the property features any of the following:
- Property structure and condition
- Central heating/air conditioning
- Telephone, broadband and TV points
- Number of kitchens, bathrooms, and bedrooms
- Overall utility value
- Security and privacy
- Furniture and fixings
- Surrounding area
Do you need help with buying a property in Spain?
Deciding on investing in foreign property is an incredibly exciting time, which means you should be able to enjoy the entire process from start to finish!
To make sure you have a fun, seamless and stress-free experience with your next investment, get in touch with the team at Andrew Brown Properties to discover how we can help you to navigate the Spanish property market, find the perfect villa in Mar Menor Golf Resort and ensure it meets all your specific needs.