Purchasing a Spanish Property - The most valuable advice I can give about buying a home in Spain is “DON’T DREAM ABOUT IT DO IT”. Someone I am sure told you long ago “It is not the thing that you do in life you regret but rather the things you don’t do”. In no case can I think that this old adage is truer than in the case of those people I meet who are still dreaming of buying a holiday home or moving to Spain.

It’s sunny, economical, and safe. As part of the EEC you are entitled to live and work here, the political climate is secure and as Brits have been coming here in their droves since the sixties, we are an established part of the scene. As it is only a couple of hours away from the UK by plane it is really closer than many British holiday resorts.

Once you have made a decision to take advantage of what Spain offers, it is a case of how to go about it. There are more estate agents in Spain than almost any other business, many of them sell a house every three months but because of the high commissions these agencies charge, it is enough to make a living on.

Others are money making machines who spend absolute fortunes on Exhibitions, road shows, national press campaigns, telesales organisations etc. They tend to specialise in selling new build properties designed for the British market. That means in plain speak, overpriced ghettos built on reclaimed land. They have to recuperate their marketing costs somewhere and if they are subsidising your flight and accommodation, watch out. If you buy from one of these companies you will not only pay through the nose for you accommodation but also for the accommodation and flights of the people who came out with no intention of buying in the first place.

As with most things in life it is best to seek out the middle way, look for medium sized specialist estate agents, with a good reputation and a good track record is important. A new agency recently opened up may not be there when you need them. Property is not a pair of shoes, you may well need help from the agency long after you have moved in to the property. Does the agency offer after sales, does the property have its title deeds, can the agency recommend builders, lawyers and property maintenance.
Use the internet. One of the great boons to buying a property abroad has been the internet. To be able to get information about properties, areas, communications and to actually be in regular contact with your agent from home at the touch of a button has made buying abroad so much easier.

It means that weeks even months before you actually visit your property, you can get the true measure of the agent through whom you are buying. Are they professional in their replies, are the knowledgeble about their areas. Let’s face it if you don’t feel you can rely on them before you buy what chance of a decent after sales service do you have. So use this time to get to know your agent.

Use a lawyer. In Spain it’s not legally required to use a lawyer to buy a property. You can also go to Las Vegas and place all your money on a throw of the dice. Equally sensible.

Any estate agent who tells you not to use a lawyer is at best imprudent, at worst dishonest. Either way steer clear of them. Beware of in house lawyers if the agency offers it’s own lawyer you must be aware of a possible conflict of interest. You can find lawyers on the internet these days but beware of the Marbella lawyers who charge fortunes.

You should pay between 1 and 1.5% of the value of the house and with cheap property under 100,000 a minimum fee of around 1,500 should be the most you should pay. Check what comes with the service and are taxes paid for you? Do they arrange your NIE number (essential to pay taxes) is that included in the fee.

Your Spanish Holiday Home - How many of us dream of buying a holiday home in Spain? So much better than a hotel however luxurious, so much more reliable than renting for holidays never knowing if the place will be clean, whether the pictures told the whole story or is there a half built hotel or a pig farm just around the corner.

Too good to be true, no not really but you have to be carefull where and what you buy and from whom. If it is for holidays only or as many people do you are thinking of eventually retiring to the property you do not want something that will be a money pit. It has to be in good condition and secure, a maintenance contract is vital. Bearing in mind the property will be vacant for much of the time, isolated country houses are more demanding than for instance village or town houses, where neighbours will be able to look out for you.

If you are going to rent it out beware of the friendly Brit you meet in the bar who offers to look after the property and rent it out for you. You need professional help and you need to be secure if the furniture goes missing so probably will have the neighbour. If you are not there will you get your rent or will your friendly bar hop?

Let’s face it you wouldn’t give the keys to your first home to a man you hardly know. When you come to Spain do not leave your good judgement behind, bring it with you.

If rental income is something that will make the second home purchase possible for you, look for something that is different, there are tens of thousands of small apartments to let on the coast, the rental season is shorter than a daschund, for those of us that do not have regular clients.

Think about inland little white villages where you can buy property cheaply and the competition for rentals is less. Make your house special, include luxuries like satellite television.

Get good pictures taken, be professional about it. If you do it well, it may well turn out that you can buy a second property later and so on. You will need to look at the tax implications of this second income so get advice.