If you, like many before you have ever dreamed of owning a holiday home in another country, have you ever considered just how easy it could be to get your feet firmly on the foreign property ladder? Purchasing property in the UK, as most of us know, can be a long, drawn out process which holds no guarantees until the contracts are signed, sealed and delivered, prior to this having to wait endless weeks for the legal process to unfold.
However, buying abroad may not essentially be such a traumatic experience. There are so many sources of information these days which provide us with knowledge of the processes which take place for buying a property in Spain for example.
We all love to watch programs such as location, location where families up sticks and move abroad in search of a new life, but this is the extreme end of the scale. For many of us owning a property abroad is no longer a dream, but very much a reality which very often is cheaper than buying in the UK and often returns an income, due to the thriving holiday industry of today, where people search for holiday villas to rent, rather than booking into hotels in the packed holiday regions.
When you have made the decision to purchase abroad, you then have to pick the perfect location. Do you want somewhere inland or on the coast? Rural or built up in a prime tourist location? After all once you have purchased your property, you will have to love the area you pick whether it is for a retirement home, holiday villa or permanent residence, Spain has its advantages boasting one of the most pleasant climates in Europe, combining warm winters with long hot summers.
Researching all of this in advance is essential. Take Spain again for example; there are the 3 main areas of Spain which spring to mind they are the Costa Brava, Costa Del Sol and the Costa Blanca. Each region has many pros and cons, let us focus on the Costa Blanca which provides wonderful picturesque scenery a perfect blend of mountainous ranges and quiet coastal retreats. Everyone has heard of Marbella, especially the marina where many celebrities like to moor their yachts or Benidorm the night life capitol of Europe, these are the main tourist areas on the Costa Blanca, but most regions remain unspoilt and secretive.
Along the coastline there are many quiet fishing villages, still wrapped in Spanish charm. Among these areas is a little place called Javea, Javea is one of around ten villages all closely linked together with Moraira being perhaps one of the better known. They boast a laid back approach to life, which generally runs at a slower pace and generally appeals to most, because of the rural location it is a perfect place for families to enjoy the real Spanish experience and has many amenities in the immediate vicinity. Due to these qualities Javea is starting to grow in popularity, not only have Javea villa sales increased, it is fast becoming a prime location for retirement and permanent relocation.
This leads to choosing the right type of property for you, no longer do you have to choose from existing property in Javea to appear on the property market, you can actually design and tailor your own dream home, buying off plan or designing your own villa will obviously take longer as the property required will still be either be in the process of being built or very much in the planning stages. However this if you have the time can be very rewarding especially if you are buying to retire.
For many of us with young families one of our prime concerns would be whether the property has a pool? Most Javea villas have their own private pool or communal pool, with lots of services available for pool maintenance by local property maintenance services keeping a property with swimming facilities need not be a drama either.
The comparisons in purchase price of buying a holiday home in Spain to buying a house in the UK do differ greatly. Villa prices seem to be lower on the Costa Blanca if you use a Euro to Sterling calculator. If you are a non-resident of Spain you can still be approved a Spanish mortgage of up to 70 percent of the total purchase price. You will also be required to pay a 10 percent deposit on the selected property. As a rough guide an additional 10 percent of the purchase price should be kept aside to cover legal fees, which include transfer tax and IVA, Notary and Land registry Fees and of course fees for legal services. The purchase process is usually quicker than that provided in the UK, but it is best to seek reputable legal representation to avoid unforeseen problems such as no planning consent.
The easiest way to view properties in Spain is via a property website, these sites give incredible amounts of information regarding property, from choosing a villa to construction of new build properties, they can guide you through the purchasing mine field and keep you abreast of the sale process, explaining the Spanish process. Generally this is provided as free friendly advice.
If you are planning to buy for instance a Javea holiday property, you could actually find it pays for itself, renting your property whilst you are not in residence is a perfect way to make your investment work for you. There are many property maintenance services available throughout Spain, usually from local estate agents. They will charge for the services provided but it also affords you peace of mind that whilst you are away your property is being looked after.
My conclusion therefore is if you aspire to own property in Europe, especially Spain, pound for pound you can make your investment work for you, with the additional bonus of living or holidaying in sunnier climes.