We have gathered the main concerns of our clients to create this useful guide to help you choose the perfect holiday home in Spain and buy a property that fulfill all your needs.
1- Choose a good Location:
It might be obvious, but location is one of the determining factors to consider when buying a property. Think what is the most important thing for you about the location: Do you want a house close to the golf? Next to shops or at walking distance to the beach? Do you need to be close to the old town? Do you mind using the car? Do you want pubs and discos around or do you prefer a quiet location? Write all your preferences down!
Is better for you to explore the areas in person prior to start looking for a property. If you are still not sure of which location suits you better, a local sales agency will always be of help! In Andalucia Realty we know all the areas of Marbella and the Costa del Sol, and will find the best one according to your needs.
2- Establish a Budget:
On this point you must consider how much will be the maximum budget. Yes, we all want a brand-new property next to the beach, a 5 minute walk to the Golf, and in the best area of the city -not to forget the pool and the stunning views-. Despite our wishes, not all of us can afford that. Therefore, a good option to start looking for buying a property in Marbella or anywhere will be setting a budget.
It might be the time to start ranking the priorities. Make a list answering the following questions: what is really something that your property must have? for example, if it is being close to the beach, start thinking: how far are you willing to accept as a maximum? The number of bedrooms or community services will increase the price as well. Highlight the most important thing for you and see where you can be flexible. It will help you clarify your ideas!
When deciding the amount of money you are going to spend on your new home, you will have to consider other expenses apart from the purchase itself. Taxes as VAT or ITP can be a substantial amount to take into account. Is always good to estimate around 10% of the price of the house for taxes, notary, lawyer and others. You can always ask your local bank or a trust agency for advice about taxes and mortgages.
However buying a property is not a “one time expense”. Ask how much are the community and IBI (local taxes) of the property and think, will you be able to pay them?
Once you have chosen your budget, is always good to ask yourself a few more questions: Will the house need refurbishment? How much will you be spending on furniture? Will you have to hire a moving company?…
Not everybody needs the same space. Think if the property will be only for you, or will also family or friends come to visit. In that case you might want to consider their needs as well.
If you like to be surrounded by your beloved ones check if there enough space to accommodate unexpected visitors as friends or family for a few days. If you prefer a cozy home just for you, it will have lower maintenance. Value all options!
Even though you are buying a holiday home for you, think about the potential this property might have in case you would like to rent it in the future. You can even rent it in the seasons you are not in town!
You can also be thinking in a house to invest at the moment and that will become permanent eventually (eg: after retirement). In this case would you sell the property you are buying and look for another residence to become your main home, or do you prefer just to do one investment and keep this holiday home to become a permanent someday? Is it easy to sell?
5- Legal Requirements
It is always useful to have legal requirements in your mind when you are thinking of buying a property in Spain. “Nota Simple”, deed certificate or mortgage charges are some of the documents you must be familiar with. For more information about legal requirements as How to get the NIE (foreigner identification Number) or how to buy a property with full guarantees in Spain check our guides.
After following these steps you should be able to choose the perfect holiday home. If you would like some help, let us find your dream property and don’t hesitate to contact us!, just tell us your needs and let us do the work!