The Costa Blanca is one of the most popular places in Spain where many people choose to buy property. However, whether you are an experienced investor or a first time home buyer abroad, there are many mistakes that can be made when buying property on the Costa Blanca. Below are seven of the most common ones.
1. wrong location – Choosing the wrong location can have a major impact on the value of the property and its attractiveness to potential tenants or buyers in the future. Before buying, thoroughly research the neighborhood, check accessibility to stores, restaurants, beaches and other amenities.
2. lack of professional help – Using an incompetent real estate agent or lawyer can lead to serious legal and financial problems. It’s worth investing in professionals to help you through the real estate buying process.
3 Incorrect recognition of costs – In addition to the price of the property, additional costs should be taken into account, such as taxes, notary fees, property maintenance costs. Underestimating these costs can lead to unforeseen expenses.
4. Lack of market research – Before buying a property on the Costa Blanca, it’s a good idea to research the market thoroughly to make sure the price you pay is fair and adequate for the value of the property in the area. This is especially true with second-hand properties.
5. Neglecting technical inspection – Before buying a property, it is always a good idea to conduct a technical inspection to ensure that the property does not have hidden defects that may require costly repairs in the future.
6. Lack of an investment plan – When buying a property on the Costa Blanca, it’s a good idea to have a clear investment plan, whether you want to rent it out, sell it in the future or use it as a summer residence. Lack of such a plan can lead to inefficient use of the property.
7. Disregard of legal regulations – Buying property abroad involves different legal regulations than in Poland. Be sure to thoroughly familiarize yourself with the local laws regarding the purchase of real estate to avoid unpleasant consequences.
In conclusion, buying a property on the Costa Blanca can be a very attractive investment, but it is worth avoiding the above mistakes, so choose Home in Spain and trust the professionals! We help with the entire buying process as well as around the buying process! We build a relationship with our clients for years and even generations!
Leave a Reply