Cheap Property in Spain – Tips for Finding Cheap Spanish Property
While it’s true that living in Western Europe can be expensive, it’s equally true that there are opportunities to acquire property there
that does not cost a fortune. If you’re one of those who’ve been dreaming of going to Europe to buy cheap property, Spain could offer the
solution you’re looking for.
Here are some tips to keep in mind if you’re interested in buying Spanish property or Spanish real estate that your budget could
accommodate:
1. Consider your desired location. Do you want to live in a city or inland? Prices of houses or apartments in the cities are
generally a lot more expensive than they would be out in the country, as are the prices of Spanish coastal properties in areas like the Costa del
Sol, Costa Blanca and Costa Calida. Owning a villa in the “Costas” has its pros and cons, as does buying property in a rural area. Think about
your wants and needs: do you want to live in a place with a busy nightlife or will you be happy in a place where the nearest neighbor is
kilometers away? Then match your desires with your budget. One rule of thumb: the further north, the cheaper Spanish property can be.
2. Consider the state of the property. If a Spanish property’s low price catches your attention, be prepared for the
possibility that major repair work or renovations need to be performed on it. It wouldn’t be reasonable to expect a luxury villa for something
that’s priced at €200,000 or so. That said, buying a quality house or apartment in Spain at that price is possible, especially if you consider
the working towns or villages.
3. Consider dealing directly with property owners. A large chunk of money is often charged by real estate agents in the form
of commissions. To avoid this, try to buy directly from the person who owns the property, or perhaps an agency that doesn’t charge the buyer.
Such agencies usually earn their fees from the seller, who pays them for getting the word out about their real estate. The agency then leaves you
and the seller to transact your business.
4. Consider dealing with firms that specialize in helping foreigners buy property in Spain. Having to pay broker commissions
to agents isn’t always a bad. Sure, the service could cost you a pretty penny. But it may be worth it in the long run since you’ll be dealing
with people who know the rules and regulations covering the acquisition of land in Spain.
5. Consider the help your personal network can give you. Maybe you have family or friends who are already living and
working (teaching)in Spain. Let them know that you want to buy Spanish property; they’re
well-placed geographically to help you find what you’re looking for. But remember, no matter how attractive or promising a property looks,
don’t be pressured into buying it without having done a physical inspection of it first! Common sense can fly out the window if you’re made to
feel by someone that you’ll be losing out on a bargain if you don’t act immediately.
With persistence, patience, common sense, and perhaps a dash of luck, you can fulfill your dream of owning your own home in tropical Spain.
Keep these tips in mind during your search for cheap property – Spain or elsewhere.
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