Buying Property on The Costa Blanca

Buying a property in your home country can be a daunting, and sometimes traumatic, experience so if you are contemplating buying in a foreign country this can only add to the complexities and uncertainties. For any property purchase you will rely on information, advice and assistance provided by others ~ the vendor, agent, lawyer, financial advisor, bank manager, family and friends for example. When buying abroad it is possible that you could misinterpret the information you are given because you will probably not be familiar with the laws, procedures and language of that particular country. For these same reasons you are also open to exploitation by some not so reputable people if you are not on your guard!

The details and practicalities of finding a home in a foreign country are often underestimated. You first need to decide on your preferred location. On the Costa Blanca you have a wide choice of coastal, rural, village, town or city locations. Access to shops, schools, working opportunities, social activities, transport, rental potential, etc., have to be considered. Then you need to choose the type of property and the facilities you want. Is there scope for expansion or a pool maybe, is the price reasonable, is it in a good state of repair, etc.? This can take many trips to different areas and many days, or even weeks or months, to research yourself.

Once you have found your dream home then you have to sign a contract of intent and arrange the finance. You may need to arrange a Spanish mortgage and /or transfer some funds from your home country. You will need to register as a property owner in Spain and, if you are going to live there, apply for a residents permit. If you are of retirement age you will need to ensure that you have the correct documentation to continue to receive your pension and to qualify for the reciprocal health care arrangements. Other matters to consider include home insurance, registering and paying for the electricity, gas and water services, having a telephone installed, buying a car and taxing and insuring it, which television system to have, enrolling the children at school, etc. If you do not intend to live in your new home full time you may want to rent it out. Then you will need to arrange sales literature, advertising, a booking procedure, cleaning and laundry for your tenants and someone to look after your property when you are not there.

To do all of this on your own is a major task and you could leave a lot to chance as, in addition to the points mentioned above, you will also need to decide if the people and businesses you are going to use and take advice from are legitimate and fair and will give you good service at the right price. Wouldn