If you are in the UK or another European country and are looking to purchase a home or other property there, make note of the following five steps to follow.
First and foremost, it’s extremely important that you first contact the local Land Registry in order to obtain an updated search. This is to verify that the current owner of the property you are looking at is legally registered as that, as well as ensuring that the property is not subject to any kind of development schemes or any legal charges. This search will also reveal whether or not the official descriptions of all of the property’s sizes, features, and boundaries match what they actually are.
- Inquire as to how long the property’s current owner has owned it, as well as what price they paid for it. For example, if the property was purchased at a cost of 50,000 euros one month prior and is now currently for sale at the same price, contact a local estate agent to find out the reason why and to obtain further advice from them.
- Take the opportunity to gain as much information as possible regarding the current for-sale prices of any and all similar properties in the area.
- If a company currently owns the property, contact the Commercial Registry to obtain a search in order to determine whether or not the company is solvent. In addition, you will also want to find out, with the assistance of lawyers which an individual can legally sign off on behalf of that company.
- Get in touch with the local Town Hall in order to determine whether or not any permits needed either have or will be granted, but only if the property contains a home that has been recently built or an existing structure that will need improvements made to it.
Prior to making a purchase, however, the initial phase of these decisions involves a heavy amount of research. While an individual may be familiar with overseas properties and the like, the first stage of this investment decision should include a diversity of invaluable resources. From including knowledgeable real estate agents to speaking with the most seasoned overseas property consultants, the planning stage is where the individual searches for every bit of information that they can find so that they can make an informed decision.
The research that this investor does should include historical information, geography, history, economics and others invaluable sources of information. Additionally, confirmations of various kinds of data should also be included by dealing within the country’s embassies.
Buying a second home in Spain is a good investment, especially with the extensive amount of Costa Blanca bargain properties available for sale and rent. Low pricing and low mortgage rates sweeten the deal not only for the Brits but others in the market for an overseas haven. The cost of living, rising tourism especially near the coasts and high property values emphasize the point of the sooner you buy the better. Brits can easily purchase a place to vacation, move into in their senior years, come to visit with their families or even generate extra income by renting it out to tourists in summer as a rental property.
There are at least five other reasons beyond what has been mentioned as to why anyone especially Brits would love to call Spain home. I will start with my favourite benefit which is the wonderful weather. Spain has an especially warm climate most of the year compared to other European countries. Secondly, the hospitals and medical treatment are better than in the United Kingdom by far, statistically. The diet of fresh fruits, grains, olive oil, fish and red wine make for a healthy home away from home choice. There is also easy access between cities with ferries, public transport and airports. The hospitable Spanish people make living in their country a relaxed experience. All of the above, contribute to a better and preferable quality of life.