Los 6 errores más comunes al comprar una vivienda en España

6 mistakes buying a home in Spain

To do not calculate initial expenses

All the expenses involved in the purchase operation must be considered. Remember that the price of the house will have to be added approximately an additional 12% derived from administrative expenses and taxes. And remember that if you apply for a mortgage and you are not a tax resident in Spain, it will hardly be more than 60/70% of the appraised value of the home. Therefore, remember that you will need to previously have 30/40% of the appraised value of the home  plus that 12% of taxes and expenses initially indicated.

To do not consider the costs of owning

such as the payment of Real Estate Tax (IBI), housing insurance or supplies (water, electricity and gas, etc.). Remember that in addition to the mortgage fee, these are responsibilities that you must also face as the owner of the property.

Make an offer without comparing prices and / or homes previously

To achieve the best negotiation, it is necessary to evaluate the real estate market in order to offer the best price. Show flexibility, but firmness at the same time. Avoid offering ridiculous sums or you will not be taken as a serious buyer and listen before accepting to avoid paying more than the property is worth.

Not understanding the importance of a GOOD LOCATION of the property acquired

What is first and foremost a good location? There are three characteristics that foreigners like you look for when determining a good location. Good orientation to the sun, views (preferably to the sea) and good services in the environment, as well as easy access to them.

Of the three, surely the most important is the last. The existence of good services in the environment and its easy access (preferably on foot) is in the long run the most determining factor for a good location. An environment where quality services are available such as supermarkets, shops, restaurants, cafes, medical centers, schools, easy access to the public transport network, in a safe environment, but also at the same time of tranquility and privacy, constitutes The main element of a good location, Do not forget that a good view can be ruined in many cases by a future construction and also its effect of enjoyment over time declines significantly, while easy access to good services is a necessity and an everyday pleasure that you will enjoy every day.

Buyers often forget that they will probably sell their house at some point

Some foreigners forget that they will eventually have to sell the property they are acquiring someday. Most things can be fixed, but the location cannot be corrected. Buy based on location, NOT on the price.

Forgetting that the acquisition of a home, especially if you are a foreigner, is first and foremost an investment

This point obviously relates to the previous one. The quality of the house itself, but especially its location, will be the determining factors to make the purchase of your home a good investment. Investigate the history of the evolution of prices and the market in the environment where you are going to acquire the home, do invest in an area that is considered profitable, because if it is, it will be naturally because it also meets all the requirements to offer a safe comfortable life and pleasant to its inhabitants.