Living and Working in Spain

Pros and cons of investing in a house in Spain

Living and Working in Spain Fleur van de Put

Investing in a property in Spain sounds very interesting, but it has also disadvantaged. Buying a house in Spain to invest can be tempting. There are many positive sides but beware of the pitfalls. Discover all the pros and cons of how to invest in a house in Spain.

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Pros

Most properties are still very affordable when you compare it with other countries. The last twenty years Spanish property has increased in value. Properties in the cities seem high in price, but this is where the value has increased the most and probably will increase even more in the future. Outside of the bigger city’s prices are still low.

The economy in Spain is relatively stable compared to other countries outside of the European Union. There are many people that want to rent a property, some just for holiday rental and others for long term rental. If you want to rent out your property it will (in most cases) be easy.

Cons

There are some preoccupant stories about squatters. Although this is not very common it has huge impact if it happens to you. If a house stays empty for some time, it can be occupied by squatters. In most regions in Spain the occupants have many rights, and it can be hard to get them out of your house. Therefor it is important to have an idea what to do with your property before you buy it: live their yourself or rent it out.

Paperwork can be overwhelming when you plan to buy a house. Foreigners must apply for NIE or TIE depending on where they are from. A Spanish bank account for automatic transfers is in most cases necessary and the list seems never-ending. Besides that, a lawyer, mortgage advisor, the real estate agent, all are important, but also want to earn their part of the purchase.

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Tips

When you’re interested in a house in Spain to invest, find a reliable partner like Match Better Valencia that can help you to sort out all the steps you have to take before and while you’re buying a house. These steps might be different than what you are used to in another country. Specialist can help you and it saves you a lot of time.

When you have finally bought the property, make sure you choose for a reliable insurance like Caser home insurance.

Real Estate websites like Idealista show many beautiful photos or impressions of wonderful houses. They are all unique in their own way: some have a sea view; others have a huge plot of land, and the third property has a private pool for a very low price. Remember that Real Estate agents all want to sell you the house and therefore they will focus on the positive side. Take your time to ask the Real Estate agent about possible concerns about the property. Take a technical expert with you to check the condition of the house.

Download Free Guide:  Guide for Homeowners Before & After Buying a Home

Fleur van de Put

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