Do you think your time has come to buy a house? Surely this question has been around your head ever, it is obvious that is a great decision and it has to be meditated correctly. Buying a property means making a great economic effort, and in most cases you are tied to a mortgage for most of your life, so you have to think about it in detail.
These years the property market has stabilized, the sales are recovering, both in second-hand properties and new construction. In addition, banks have started to give more funding, and if we add that interest rates are at historic lows… it’s the perfect time! However, observe that the appropriate conditions are given, for this reason, we give you these little tips:
– Take account: Spaniars do not have a consolidated financial tradition, and there are studies that show it. In the case of people of other countries consulting external agents such as lawyers, developers or real estate it is very common, so it can help you in this process.
– Remember that the price of housing must be added 10% VAT, plus 3-4% in notary fees, registration… so our advice is that you always keep in mind the 14%, so that there are no unexpected scares.
– Careful when choosing the mortgage, experts advise that mortgages, credit cards or personal loans does not suppose more than 35-40% of the income, if it exceeds this it could be a big mistake.
– In Spain there are many property markets, it is not the same to buy a second hand house as a new project, also it is not the same to buy it on the coast, as in the interior. They are important factors when buying and subsequently selling it, be careful.
– Finally: take your time. Sometimes the decision to buy a home is more emotional than rational, and you may end up exhausted and unmotivated. Before making a mistake when buying a wrong home, stop and breathe, with perspective everything looks better.
These are only some small tips, but if you need more information to avoid certain errors, you can check this news of Idealista. And you know that if you need a home both in San Pedro del Pinatar and Pilar de la Horadada we are here to help you.