Buying real estate is a very important moment in the life of every person. We all dream of having our own house that we will renovate as we wish, and that we will get rid of rent. Of course, not everyone is able to buy a house or apartment for cash, raising a loan for this purpose is very present today. In any case, the knowledge that you are paying off your own home will not be so difficult for you because you still know that you are entering something that is yours.
What is becoming more and more common is that people buy real estate in other countries, especially in those that are in demand tourist destinations (coast). One of such countries is certainly Spain with incredibly beautiful cities and beaches, among which Javea stands out.
However, before buying real estate in a foreign country you need to know some things.
You will need an NIE number
Without an NIE number, you will not succeed at all. This identification number is obtained from the police and confirms that you have been checked by the police, and there are no obstacles to staying in this country. Only after you receive this document, you will be able to buy the property, register electricity, cable, and so on. Of course, you should keep in mind that it will take you a few days, maybe even a week, to get an NIE number, so it is best to apply as soon as possible.
Set the budget
Before each purchase of real estate, it is important to determine the budget. Keep in mind that there will always be some extra costs (taxes, interior design, and so on), so you never need to spend your entire budget on a property.
A rational approach to the finances at your disposal. Buyers often take out a loan in order to be able to buy a property, so it is important to prepare and develop a financial plan. Credit counselors at banks are available to calculate annuities.
Although older apartments are slightly cheaper than new ones, you must also include in the price the costs for adaptations, replacement of installations, and other arrangements. When looking around, pay attention not only to the number of squares but also to the functionality.
Location plays a big role
It is clear to you that the size of the house plays a big role in the price, but many other factors affect it, and one of them is definitely the location. Keep in mind that the houses on the beach are more attractive, but also that their price is much higher. On the other hand, sometimes a secluded house that is a little further away from urban areas can offer much more. In any case, to find the most attractive offers, it is important to follow the ads, get information from friends and acquaintances, or simply contact a real estate agency, which is probably the best option, especially if you do not know Javea well enough. You can learn more about it if you visit javeaestateagent.com.
Make sure the apartment is close to important facilities. Eg. public transportation is a very important factor when choosing a location to buy state, parks, hospitals, schools and kindergarten for children, shops, work, gym, etc.
How to check the property you are buying
When you have chosen the property you are buying, you need to check whether it is registered, whether it is sold by a buyer who is registered in the cadaster as the owner, whether there are encumbrances, mortgages, whether someone else claims it, whether there is a co-owner and through other things for which you should definitely hire an expert. Ask the buyer for a transcript of the list of real estate. Also, check the utility bills, whether they were paid, had debts.
If all is well with the paperwork, it is time to move on to the second part of the check, which is the condition the property is in. Here we mean checking the condition of roofs, windows, floors, as well as electrical and plumbing installations.
Real estate must be of good quality, which is not just about the equipment, which you can always change. More important is the layout, orientation, amount of daylight, some outdoor space (balcony, loggia), parking, and storage. Apartments with different characteristics in the same building should not have the same price.
When you make a purchase decision at some point, it is common to make a pre-contract that defines how long the contract will be concluded, but also the essential things that will appear in the main contract. The contract of sale must specify the method of payment, registration of property rights, and deadlines for the elimination of any defects in the property. When concluding the contract, the buyer pays the purchase price, unless payment in installments is agreed. Also, don’t forget to check that all utilities have been paid. There are many details that you have to think about when buying a property and so give yourself time and dare to make a decision in peace, and once you make it, do not sign anything before you are 100 percent sure of the legality of the contract.
The first and basic command when buying a property is: to entrust the complete buying and selling process to a professional person – an authorized intermediary. The professional will work to ensure that all actions are completed in accordance with the law and to everyone’s satisfaction.
Never choose more than 3-4 properties to tour because you will leave the impression of an “observer” to the broker, not the actual buyer. If you have found a suitable property, you will give the broker a signal to go into the phase of all the necessary checks that precede the sale.
When choosing a real estate agency, check how long it has been on the market, who its directors and employees are, and whether they provide you with reliable support in all segments. It is risky to work with a real estate agency that can give you the wrong advice when making one of the biggest investments in life.