Spanish property buyers guide is only a brief guide to the process, terms and requirements for buying a property in Spain. Spanish property buyers guide is created by our legal experts, estate agents and our own experience. It is not meant as a comprehensive encyclopedia which would run to hundreds of pages. If you want a more in depth look into aspects of buying property in Spain we recommend a great book by David Searls called "You and the Law in Spain", 16th edition. This regularly updated book, (last updated April 2005) is a valuable resource when moving to Spain and still remains one of my favorite reference books.
What this Spanish property buyers guide or any book can't do is give you the inside knowledge of the Costa Tropical and how to buy the right property for you. We haven't found any one book that can stop you being duped into buying a poor property, that no one else wants because it has no water supply contract or the new motorway will run straight through your land. But with our help and our knowledge, we can try and avoid these mistakes, making your purchase easier and less stressful as well as saving money all the way through the process. For example using HIFX above saved our last client over 4000 euros compared to other money exchangers including his OWN bank of 20 years standing!
We recommend travelsupermarket.com for a cheap flights finder which checks through all the airlines for the best prices on flights to Spain for inspection visits. Their site is easy to use and links you straight through to the airline operator for your booking. Also check out their great rates on airport car parking, which saved my mother £87 on her last trip in February this year. Essential money saving tips that can really keep your travel costs down , thus allowing you to travel more often. We can make numerous recommendations to help you save money in your move to the Costa Tropical, Spain - all you have to do is ask!
Apart from keeping inspection visit costs down you should be thinking about other aspects of your finances, such as how you should fund your Spanish property purchase. Should you re-mortgage your existing house and rent it out. This will give you the lump sum you need to purchase your dream Spanish property or at least provide the deposit to put down against a mortgage and cover the 10% (approx) costs of purchase. This strategy involves more borrowing, but allows you to maintain a presence in the UK property market and hopefully you will get enough rent to cover the mortgage and enjoy a capital growth in your property. For this you will need to get some expert guidance in the UK property lettings market and the UK mortgage market.As a member of the National Association of Estate Agents in the UK we can point you in the right direction. Email for more information.
This then will give you the basis to determine how much you can afford to put down as a deposit on your Spanish home or holiday home. Spanish mortgages work differently to the UK whereby they will lend up to 80% on the value of the property and not the purchase price. Thus if you were to buy any of the bargains in our bargain property section you would be able able to borrow in excess of 90% against the purchase price, subject to status.
Insurance in Spain is a boring but important issue to address before you forget and only remember when you have a problem. Have a look at our new information on Spanish insurance section.
You WILL save money by buying through WiseMoveToSpain.com. Take the first step along the road to your dream home here on the Costa Tropical, or just property speculation as this area is still undervalued compared to other coastal areas in Spain, by contacting us either by email or telephone for straight talking advice.
