Spain is a very attractive place to buy property. The popularity of buying here remains undiminished and can compete with the up and coming markets without a worry. The weather is great and the lifestyle is better than most places in Europe! For those wanting to invest in Real Estate, however, the road can be troublesome at best.
Choosing the right location
Choosing the right location is one of the most important things to do before you even think about buying a property in Spain. You need to take your time and travel around the Costa Blanca untill you find the spot for you be it on the coast of Orihuela or it may be inland where it is more rustic and also the golf courses which the Costa Blanca and Costa Calida have plenty off. Once you are happy with the area talk to us about what type of property you are looking for and I am sure we will find the house of your dreams on the Costa Blanca south of North of Costa calida be it a new one or a resale we have properties from a small apartment to a town house or a large detached villa with its own pool. Newhorizons property can find you your property of your dreams in Spain.
Must I use a lawyer to handle my Spanish property purchase?
You could buy a property without a solicitor because it is not obligated by law but we advise you to use one just to be sure everything is in order. Also it makes it very easy and relaxed buying a property in this way. We have an independent solicitor we can put you in contact with which take everything out of your hands. References of many clients who bought with him are available. He will do the purchase contract for you, will check de property on any debts, mortgages and legality, pay the taxes and organise everything for the notary and translate for you. Later he will pick up the original title deeds up from the notary to take it to the register office to registrate the property in your name. Water and electricity contracts he will change over in your name and also make the change over with the administrator of the community.
As you can see there is quite a lot to do but this will be all be done for you and you do not have any worries and is a piece of cake and a safe purchase in this way. It is also possible to give the solicitor a power of attorney so that means in this way you even does not have to be or to come to Spain and the only thing you have to do is to pick up the keys and start enjoying your Spanish life or holidays in your new home.
Retiring in Spain
Retiring in Spain The first reason for retiring to Spain probably has a lot to do with the weather. After suffering a cold winter in northern Europe many people look toward warmer climes. Not only is it a lot more pleasant but as we grow older our bodies certainly benefit from the higher temperatures as do our pockets with the lower fuel bills and cheaper wining and dining and council tax road tax and besides that other lower costs of life.
Many people report that their arthritis and other aches and pains are much improved by their life in the sun. The excellent Mediteranean diet can also greatly benefit your health on retiring to Spain. The cost of living is another important consideration as, although prices in Spain have undoubtedly risen in the last few years, so they have in the U.K and generally speaking ones pension does go further in Spain. Although the winters can be cold and wet they are never as cold as northern Europe so less is spent on fuel. If you are already in receipt of your winter fuel allowance before you leave the U.K. then this can still be claimed from Spain although you will probably find yourself keeping it to help pay the cost of your air conditioning in the summer! Additionally the cost of running a car in Spain is a lot less than in the U.K. so that is another added bonus for many people retiring to Spain.
The other reason many people have for retiring to Spain is something less easily defined but none the less important, it is the "quality of life." This may mean different things to different people but even so those who have moved to Spain generally agree that there is an all important something here which has made life better for them. Perhaps it is the more relaxed attitude to life, along with plenty of sunshine and longer daylight hours. Certainly the pace of life is slower here and on the whole less stressful than "back home."
Buying within a community of owners
Buying within a community of owners This is the system which is used all over Spain what it means is that you all share the cost of the up keep to the urbanation which could include a pool street lights and cleaning. It normally is a very small amount. You vote in a president and a commitee to over see the running of it for a year then you have another election. At these meetings you can voice your feelings about what you want done also they are very good for getting to now your neighbours .
The costs of buying property in Spain
We often asked about this one and of course there's no hard and fast answer. But, as a rule of thumb, be prepared to fork out 10% of the purchase price in various fees and taxes for the property you are going to buy on the Costa Blanca Spain.
It's important to bear this in mind before you even start looking for a property because it can come as a nasty shock to buyers who haven't put enough aside to pay for all the extras.
You may pay more or less than 11% when you buy a home in Spain concerning resales, For New built you will pay another 1,5 % tax more which has to be paid to the Valencian goverment.
Lawyers' fees vary but are usually around 1% of the sale price plus the costs of any official documentation needed. Don't just go for the cheapest lawyer to save money - he or she could cost you a fortune in the long run! Make sure your lawyer is from a reputable Spanish firm or a firm based in your own country with a strong reputation and special expertise in the Spanish property market.
It's common practice in Spain to put down an initial small deposit to persuade the agent and or owner to remove it from the open market. After preliminary legal checks prove satisfactory, it's normal to pay a 10% deposit to secure the property. This has the advantage of stopping the iniquitous UK-style gazumping - you lose your deposit if you pull out of the purchase but the owner has to pay you double your deposit if he or she reneges on the deal. The deposit of 10% is not a rule and can always be discussed. It depends also on the owner of the property in case it is a resale. The new build properties goes in stages if it is off plan and the payment plan varies from building company to building company. Normally to you pay up to 50 % during the building process and the rest at the time you are going to sign in the notary. In Spain we are using the oficial notary to put the property in your name in the title deeds. A lawyer is not authorized to do this but do all the preparing work before you go to the notary so you know everything is correct and ready to go.