Advice on property please

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Advice on property please


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Old 6th August 2012, 08:26 PM
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Default Advice on property please

Hello all

I'm new here and thinking of buying a property in Spain. We love the country.

Initially it would be a holiday home and hopefully longer term we will spend longer periods there as we work less and have more free time. We're both early/mid fifties.

With the prices being so low we can buy cash - or take a loan in the UK - and buy cash in Spain.

I'm looking for your views as expats please as to:

Even though prices are so low - compared to before - is it really the time to buy?

We like 'real Spanish towns' not too touristy and I'm currently looking at the old part of Velez Malaga as it's near to the coast and Malaga airport.

Any views welcome.

Thanks

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Old 6th August 2012, 08:59 PM
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Don't let the 'bargain prices' distract you into cutting corners. Take your time, find the right property in the right area for you - maybe even renting for a while first - and go through all the correct legal procedures. Don't take all of your advice from just one source.

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Old 6th August 2012, 10:35 PM
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I'd check a few places out on holiday and definitely rent once.

Sure, you may argue that you are throwing money away, but that way you have a better idea of what you want and you can take your time to look around as well.

Additionally, imagine you buy a place and hate it for some reason - you won't be able to sell your house! Or if you will, it'll be for peanuts.

On top of that, house prices will still be going down for a couple years, so there's no rush.

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Old 6th August 2012, 10:56 PM
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Quote:
Originally Posted by djfwells View Post
Don't let the 'bargain prices' distract you into cutting corners. Take your time, find the right property in the right area for you - maybe even renting for a while first - and go through all the correct legal procedures. Don't take all of your advice from just one source.
I second that!

Don't buy until you've visited a place at all times of the year. and are absolutely sure it is right for you. If you make the wrong choice, you are very unlikely to be able to sell the property for quite a few years.

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Old 7th August 2012, 06:51 AM
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Be careful, don't let the rose tinted glasses take over!! There are some really good bargains out there at the moment and a lot of ex-pat sellers are accepting 25% below their asking price. The Spanish are not dropping their prices very much.

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Old 7th August 2012, 08:05 AM
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Cool

Thanks for all the comments. Make absolute sense. Have a good day in the sun...unsurprisingly it's rather grey here...

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