In the last few years, the real estate market has been very dynamic with large price fluctuations. Unfortunately, in a large number of cases, prices have gone down. The changes in the market in some countries were so great that a large number of real estate, after the seizure of the banks by sale, could not cover the costs of the loan, let alone repay the entire loan.
Because of all this, investing your own money in an uncertain world market seems very dangerous. However, there are countries where investing in real estate is much more attractive and a much safer option. One of those countries is Spain.
This country has long provided favorable conditions to foreigners interested in real estate. A private person or company based in the EU (legal entity) can also buy real estate there. The growth of the market is evidenced by the fact that more and more real estate agencies are joining the business, and the number of supply areas is increasing.
Spanish laws and applicable tax laws apply to the purchase of the real estate, of course. But, most probably the process of buying differs from the one in your country. This is why having a domestic agency, or an agency dealing with this kind of work comes in handy. A lot of people are deciding on buying homes in Javea, so if you’re one of them visit here to see your options.
Once you decide which of those lovely homes you wish to buy, consider these tips to help you finalize the purchase of your real estate.
1. Find a reputable agency
A reputable agency should be specialized in selling homes in Javea, area and offer a wide range of services for those who love the Mediterranean way of life and want a seaside property.
But, before actually talking to an agent you need to decide on your budget and for what purpose you want to buy the property. Then you can contact the agency, and choose the best property for you.
After researching your personal needs, an agent will provide you with tips and options that best suit your types of real estate, and which are the most suitable ones for your needs. They will also inform you about the trend of the housing market in Spain, the current investment opportunities, and other things that may interest you in this field. All administrative and documentation works required for the purchase will be done by our local partners.
2. Check the house documentation
A very important item that allows the registered status to be compared with that in the field. It can also be compared to the situation on the ground in relation to the neighbors.
It happens in situations where when buying a house that has not been used for a couple of years, the neighbors have taken part of the house lot and are using it. And it is also not uncommon for the seller to illegally adopt a part of the neighbor’s land and use it. It can cost more and then lead to problems with neighbors.
It sometimes happens that more are registered than what actually exists. Someone demolished an object that was registered, so it does not physically exist now, but it is regularly kept in the books. This should be on your list of mandatory checks.
3. Don’t wait for the right time and price
This is impossible to pull off, so you should avoid the option of waiting for the right time to buy a house. The best option is when you find a house that suits you and you have enough to pay for it. So, it may not be a perfect house, but it roughly fits your expectations. Waiting for the perfect opportunity is impossible to expect.
In order for the purchase of a house to pay off, a little more experience is needed, and that should be left to those who are professionally engaged in the real estate trade. But since you’re buying in Javea, these places are always attractive due to the fact they are located on the coast.
4. The right house size
There is one trap here, and that is to buy a bigger house than necessary. If you buy a smaller one, you can sell it and buy a bigger one for an extra charge.
However, if the house is too big at the beginning, it will take a long time for the right buyers to come. And for the period while waiting for the right customer, it is constantly necessary to work on maintenance. Buying the one that is the optimal size for the needs of the buyer avoids worrying about selling too small / too big and looking for a new one.
This is not only true when it comes to the house, but it is related to the size of the yard. If there are no supporting facilities such as a garage, the yard should be large enough to build those facilities. So, plans for a few years in advance for more important things, such as having children or starting a new business within the house, should be included.
5. Assess the condition of the house
It is best to check the physical condition of the house thoroughly. The problem is that customers are not experts in all areas, and hiring professionals costs extra. For example, if we go into the bathroom and see beautiful new tiles, it does not mean that the bathroom is quite good. That assessment would be best assessed by a plumber.
Since the beginning of 2010, the Spanish real estate prices showed a declining trend, and in recent years statistics show that they have set a relatively stagnant price level. It is worth taking this opportunity because owning a house in such an attractive location comes with great benefits.