Buying Your Spanish Property
See to it that you learn about the accessibility, functionality, affordability and potential of your desired location before finally deciding to buy a property in that area. Set a reasonable budget, ascertain the purpose of the property (i.e., Is it for short-term or long-term use? For personal or business purposes?), evaluate the costs and the processes involved, and determine the appropriateness of the location. So no matter how simple and cheap your chosen Spanish property is, you never come to regretyour decision.
The following are the types of Spanish properties that you should know about and choose from:
Apartments and Flats (Apartamentos, Piso, Duplex)
A lot of Spaniards as well as expats live in flats or apartments. You can see a plethora of high-rise buildings, mostly apartments, from Almeria to Barcelona. They can be single-room studios or five-bedroom mansions with some added facilities in the community such as swimming pools and gardens.
An apartamento is a flat on a beachfront, usually meant for tourists on holidays. On the other hand, a piso is a flat meant for permanent living. They can be studio flats or or luxury homes. A duplex usually means a flat lon two floors usually with the bedrooms on the top floor. Expect to put up with a noisy environment when buying from blocks of flats.
Cave Houses
These are not the dark holes excavated from the ground. In fact, cave houses are the traditional dwellings in some regions in Spain. These unique Spanish homes are fast becoming the preferred accommodations of many tourists, and numerous expatriates have bought them as their permanent residence. These properties are usually located in beautiful rural areas, and they are relatively cheap.
Village or Town Houses (Casa de Pueblo, Adosado)
These terraced houses are commonly found in the outskirts of resorts. There may be a garage and shared pools. Village houses are often considered as older properties; many of which require repair or renovation. An adosado is a modern version of typical terraced townhouses while a casa de pueblo is the older type of townhouse ranging from a tiny, single-fronted property to large, double-fronted one.
Cortijos or Farm Houses and Fincas
A finca is a country property or a farmhouse, normally with an arable land (e.g., fruit orchards, olive groves) attached. Most fincas need some serious renovation work and maintenance. You can find a lot of reasonably-priced farmhouses, but you need to be wary as some properties may have legal issues.
Villas (Chalet), Country Estates
Built for year-round living, a villa is a detached house which often has a swimming pool. These properties can either be holiday accommodation or residential homes. They are common throughout the Costas but a great number of villas or country houses are also situated on hilltops and flatlands.
Golf Properties, Log Cabins, Mobile Homes
Several properties meant for golf fans are available but at relatively high prices. For those on a tight budget, a caravan or mobile home on a residential campsite with complete facilities can be purchased. You may also go for a log cabin; but you need to secure a plot of land and seek planning permission.
Land or Parcela, Building Plots
If you would rather build your own Spanish home from scratch, you can opt for the buying of a parcela or a piece of land. You can have a villa or any type of Spanish house built on a reasonably-priced land in a decent location. But this calls for a great deal of research and understanding of the relevant laws.
Off-plan Properties, Auction Properties, Re-sale Properties
Those proposed properties waiting to be built or sold are known as off-plan properties. It can be really cheap to own a property this way but certain legal matters must be addressed thoroughly. In addition, those properties (e.g., commercial properties, residential units) needing a quick sale are often put in auction. A lot of old and pre-owned houses are also found in various auctions; some sold very cheaply.
Bank Repossessions, Foreclosed Properties
Loads of homeowners have failed to pay for their mortgages, and so the banks have repossessed their properties. A myriad of Spain's unsold properties are waiting idly on the books of many Spanish banks. Although lots of these properties that have been foreclosed are remarkable enough to be purchased, the processes involved can be really slow and daunting; especially if you cannot find a decent mortgage.
Buying a property in Spain is not necessarily an easy task. In fact, it can be quite risky to invest in the Spanish property market these days. However, all your efforts will be worth it once you can finally find the right location and property. You should have an understanding of all the crucial factors that could affect your investment and overall experience in Spain. After all, it is only after you have ascertained the best location for your needs and preferences that you will be able to figure out the right sort of property to buy.