Articles: Buying

Why should you buy on Spain’s Costa del Sol

If you are unfamiliar with the Costa del Sol this short article is here to help you understand why so many people from Northern Europe have decide to make this fantastic location their second home. The article will also offer insight in to why this location will continue to be such a popular destination for the long term.

Preparing to Buy Spanish Property

This guide will quickly run through the steps you need to take in order to prepare before and during your hunt for property on the Costa del Sol.

Property Options in Spain

In the previous chapter we discussed the importance of establishing why you are buying to help make the process of selection a lot easier. In this chapter we explain the different types of property available in Spain as well as the important distinction between off-plan and resale.

The Importance of Using a Spanish Lawyer

Once we have helped you to find the property you are looking for the next steps are to reserve it and commission your lawyer to start the background checks. A lawyer’s services are very important for your protection and their counsel will help clarify the more complicated aspects of Spanish property law. This guide has been written to explain the services your lawyer will provide prior to your purchase.

The Process of Reserving your Property

So you have received good advice from your lawyer and we have helped you find the property you want to buy. What’s next?

The Toolbox: Tips for Buying Spanish Property

A summary of some of the more important points that we feel will help you make the right property choice.

Buying an Off-Plan Property from a Developer: How the Law Protects you

When thinking about purchasing a property off-plan it worth understanding that Spanish law has several good provisions that protect you. Your lawyer will advise you accordingly but for your general reference here are the following acts and provisions that have been created to protect your interests.

The Toolbox: Tips for Buying Off-Plan Property in Spain

A summary of some of the more important points that we feel will help you make the right off-plan property choice.

Paying for your Property

You can pay for your property in euros using a banker’s draft, prepared by your Spanish bank, along with a bank certificate that you have imported foreign currency for this purpose.

The Spanish Property Mortgage Guide

With the introduction of the euro, mortgages in Spain have never been easier to obtain. The Spanish system of property finance is rapidly catching up with Northern Europe. Spanish banks are now beginning to release credit on interest only options as well as equity release schemes. However, conditions may be about to change with the recent credit crunch and many banks are now tightening their policies and their minimum standards for the consideration of an application.

Buying Euros to pay for your Spanish property

When you agree to buy a Spanish property you will know the price in euros. The actual cost (in Sterling) of the property depends upon the exchange rate that you achieve to buy the euros. It may seem obvious but people are often shocked by the cost implications of a sharp move in the exchange rate. Once your offer on the property is accepted you are exposed to a currency risk until you secure a price to buy euros. If you wait until funds are actually required in Spain, the cost of the property will fluctuate on a daily basis (either become cheaper or more expensive).

The Guide to Building your Own Property in Spain

For everyone who has ever dreamed of owning and building their own property abroad this article will help guide you through the process of developing in accordance with usual practices here in Spain. If you are not living in Spain and/or do not speak the language fluently, we have included some recommendations that will help you avoid the common pitfalls.

The Toolbox: Tips for Building your Own Property

Here is a summary of some of the more important points that we feel will help you make the right choices while building your own property:

Using a Company to Buy Property in Spain

This article will explain the various methods of owning a property through a company. Choosing a strategy where you buy as an individual or through a Company will depend mainly on the value of the property and your personal circumstances.