Tips on Buying Property in Spain

Factors which attract expatriates to Spain include its- Mortgages - how much will a bank lend you?
warm climate, high standard of living at relatively lowInvestigate and stick to that, focus on properties within
cost, relatively low house prices, good infrastructureyour means. Don't make any hasty decisions and
and stable economy. Many expats have opened bars,negotiate yourself a bargain.
cafes and other businesses there, especially in the- If your home currency is not the Euro, watch the
main tourist areas. Expatriates report that the localsexchange rate as you will be buying your Spanish
make them feel very welcome in Spain and that theyhome in Euros.
enjoy the relaxed approach to life and the- Arrange to view several properties, make notes on
family-oriented culture.them to review at home.
However, buying a home in Spain is a big decision,- Appoint a lawyer and a notary ("notario") when
requiring much preparation before making a purchase.buying your home - lawyers carry out essential
Try to utilize the many information sources nowchecks, including the small print of contracts, whereas
available - books, magazines, television, the Internet,the notario witnesses signatures and ensures taxes
experiences of friends already living in Spain, etc.are paid. Notarios are impartial and collect fees from
Some useful ideas and points to bear in mind:both buyer and seller.
- Select the region you feel will suit your needs, book a- Take a Spanish language course, there are lots of
holiday home there for 2 or more weeks to lookunfamiliar legal terms which it would benefit you to
around and experience the good and bad points aboutknow when buying property in Spain.
living there.- IMPORTANT - unpaid debts on Spanish property are
- Make friends with local people, always a goodinherited by the buyer! Check again for these before
source of advice on day-to-day matters.signing the final contract ("escrita").