We have decided to buy our dream piece of vacation property in Spain. But with such a beautiful country how do we decide where to buy?
For a refresher Spain consists of two major independent cites and seventeen smaller cites. Madrid is the capital city of Spain.
With such a variety of over seas property to choose from coastal to mountains we are sure to find something everyone in the family can enjoy.
There are some key factors we should consider when buying property in Spain.
The first factor to think about is the language barrier. If you are not fluent in Spanish make sure you hire a local translator. For the small investment you will avoid many misunderstandings, which could cost you money in the future.
The second factor is the exchange rate. It is advisable to hire a professional currency exchange company. This is going to be a significant investment, spend your time researching your property options. An exchange company can assure you get the highest exchange rate possible. They can also assist you with any future wire transfers that are necessary.
The third factor to consider is are you buying a house or building on available land? If you are building make sure you plan in all your luxury items such spas and pools. If you add on at a later date you will get hit with a higher Luxury tax (VAT)
The final factor is location and region. Make sure you take time with the family and travel around Spain as much as you can before your purchase. There are so many beautiful areas in Spain that you can be certain to find an area everyone loves.
As with any large transaction make sure you employ a bi lingual lawyer and communicate with them frequently. Above all never sign anything until they review the document. Take your time do you research and travel and you will find a wonderful property to buy in Spain.
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