4 Things to Consider When Buying and Renting a Property in Spain

The dream of having a house in Spain surrounded by beautiful beaches, adventurous spots and more may sound quite tempting. But you need to leave the fantasies aside and start paying attention to every single detail to avoid common pitfalls. 

Knowing what to expect when buying a property in Spain can be a good starting point to set up a peaceful life ahead. Various factors like real estate scams, high capital tax gains, and other fluctuations can cause a significant impact in the Spanish property market. 

 

Are you planning to settle in a luxurious villa located in the Costa Blanca or a sleek apartment in Alicante? Our guide will help you to buy a property in Spain and avoid certain consequences to turn your dream into reality.

Should You Rent or Buy in Spain?

You may find limited rental opportunities in Spain. Due to the popularity of short-term holiday rental homes, the rent prices have also been increased in some areas. For those who need to stay for a short-term, renting out a holiday home could be a suitable option. As rent prices are possibly higher, it is also good to invest in an apartment and rent it out to earn better profits.

Do You Have Enough Time to Manage the Property?

You can’t underestimate the fact that owning a home demands both time and work. It is a long-term commitment that can include maintenance, taxes, dealing with tenants, selling, and so on. Some people who have purchased more than one houses couldn’t really manage to visit the other. It is hard to be available for the management of the property so you should narrow down your concerns before investing. 

Do You Want a Short-Term or Long-Term Tenants?

Renting a home in Airbnb seems to be a lucrative option but everything has its own set of disadvantages such as cleaning burden, more wear and tear on the property, and so on. In the off-season, you might not want to fill your house as much as you’d usually prefer. 

Renting on a long-term lease is another great option to manage your property on a daily basis. You can prefer to take the rent of the entire year at once or divide it into 12 months. 

Where to Find Property in Spain?

The best locations to buy a property in Spain is a choice driven by individuals’ lifestyle and budget. Popular places like Alicante region, Andalusia province, Costa Blanca, and Valencia are some of the options you can consider. Some areas prove better than others in terms of infrastructure and environment while some really stand out when it comes to renting. 

With the peace of diverse culture and residential neighbourhoods, homeowners can access to various magnificent facilities like sea views, gardens, on-site security, swimming pools, and shopping stores. It is good to do careful research before investing your hard-earned money in a property to enjoy a high standard of living.