Keeping up with the celebrities in Spain
The boom in low-cost, budget airlines has meant that owning a property in Spain is a real possibility, not just a lifestyle afforded by the rich and famous, according to Banco Halifax Hispania.Whilst some of the worlds' most famous and well-known celebrities, such as Posh and Becks, Claudia Schiffer, Richard Branson, Andrew Lloyd Webber, The Douglases and Antonio Banderas, already own property in Spain, Banco Halifax Hispania provides some guidance for anyone else looking to buy and view properties in Spain.
A Guided Tour To Viewing Properties In Spain:
Do your homework before viewing any properties
Establish what you want - Before viewing properties make sure that you have established what you want from your property in Spain. Remember that the location which was great for a two week holiday many not always be ideal to return to time and time again. Establish your desired type of property and layout and write it down. This will help you clarify your thoughts whilst viewing properties. You may also want to consider this for comparing the location of the property.
Write down any questions – This means that you won’t forget any questions when you have the estate agent there and also means that you can evaluate all the properties against the same criteria. It also stops you getting carried away!
Be aware of hard sell tactics – Make sure that the estate agent you are using is aware that you won't be putting a deposit down on a property on the same day.
Take someone with you - It is also recommended that you always take someone with you when viewing properties, this not only provides added safety, but also ensures that you have a second opinion to call upon.
Issues to consider during the viewing:
Property services
Is the property managed? If not, will you be able to manage the garden or the swimming pool? If you are intending to spend your time between the UK and Spain you will need to consider what will happen when you are away.
What services does the property have? For example, is it connected to an electricity supply?
Are the room sizes adequate for your needs? Will they accommodate the furniture that you had in mind? Or your 'idea' of what it would be like to live in Spain?
Will you need to do any repair work or renovation? For example, will you need to replace the bathroom or the kitchen? What about painting? You will need to decide whether you can make this type of a commitment to your property or if it is too much work to take on.
Are the cupboards or wardrobes hiding any problems? It is important to check all aspects of the property to ensure that you uncover all issues with the property.
Physical aspects of the property
Is the property alarmed? Do the windows have locks?
Will the property come with curtains? If so, are they in good condition?
Does the property come with any furniture or fittings? You need to be clear of what items are included in the sale and what you will need to buy yourself.
The location of the property
Are there any rights of way over the land? Which of the boundaries is the responsibility of the property?
Are the deeds or ownership titles in place? Or will there be any future development surrounding the property?
What are the neighbours like? Are there any issues that you should be aware of?
What is the surrounding area like? What about the local amenities? You may, for example, be interested in the local international schools, amenities, public transport facilities or night life.
What is the property like at different times of the day and different times of the week?
You should always view a property more than once and make sure that this happens at different times of the day and week.
Questions to ask the seller
How long have they lived there and where are they moving to? More importantly, why are they moving?
What recent repairs have been carried out and are there any guarantees for the work?
What fixtures and fittings are included with the property? Sometimes what you see is not what you get.
How long has the property been up for sale and how many viewings has it had?
How much does it cost to run the property?
What about the managed service cost? What does this cost cover?
The importance of a survey
When putting in an offer on a property in Spain, don't worry if you have missed anything in the viewing, as the property should also be surveyed by an expert, prior to purchase.
Although employing a solicitor and surveyor will increase the purchase costs, as legal and survey fees have to be paid, these amounts are relatively small compared to the expense of trying to sort out unexpected difficulties in the future.
It is good practice to use an independent solicitor rather than one that has been appointed by the agent that you are buying property from, to protect your best interests.
As in the UK, a Spanish solicitor will ensure that all aspects of the purchase, including planning permission, obtaining a residency certificate and other legal requirements are satisfactory and will investigate the property as thoroughly as possible to protect your interests.
Ian Smith, head of European Operations at Halifax said: "The demand from British people for property in Spain has not only been fuelled by the high demand for low rate Euro mortgages, but also by the boom in low-cost, budget airlines.
"Many people now realise that owning property in Spain is a real possibility."
Banco Halifax Hispania offers a range of current account and mortgages for Britons looking to buy a second holiday home in Spain. It also provides an English speaking helpline within the UK for customers who wish to sort out their financial options prior to arriving in Spain. The helpline answers queries about what's involved in buying in Spain and will guide you through the application process.
Banco Halifax Hispania also has an approved panel of Spanish solicitors (Abogado) and surveyors who are not only fluent in English, but who also have local knowledge and experience of acting for British customers.