For those of you deciding on the best Spanish property investment you will no doubt be faced with the age old problem of property V location and what is right for you.
I am sure you have seen all those TV programs like “A Place In The Sun” where the would be property buyer is given the choice between Location or the quality of the property and where the buyer in the majority of cases picks location as the criteria. However as the show unfolds it is nearly always the quality of the property that win over location. So why is this and is this the experience of Spanish Hot Properties on the ground here in Marbella and Costa del Sol.
Yep the truth is our experience very much reflects those TV programs where buyers end up choosing the property over location and the reason is the majority of the buyers just want to make their budget stretch further rather than accepting what their budget will buy in a prime location area.
Also these buyers looking at investment property in Spain actually are not basing their judgment on sound investment fundamentals of the head when it comes to buying Spanish property. The reality it’s the dream of the heart that takes over. There is absolutely nothing wrong with this as long as you understand the reasons you are buying your property. I.e. if it is your property to live in or you want an extended home then the house you live in should be something that your 100% sure about from a living in point of view. However if it’s really for investment purposes then Location Location Location needs to enter the head and rule your decision but invariably doesn’t.
In relation to Spanish Hot Properties experiences with our average sale being around 300,000 Euros its clear those clients have a difficult choice to make but once you can look to spend more than 400.000 Euros it’s much easier to make that call as it’s possible to find good prime location property and then it has more to do with the size of the property.
So what should you do here in Costa del Sol? Well as stated above I would suggest you ask yourselves the following questions
1 What is the property for i.e. holiday home or property investment?
2 Do you want to receive rental income from the property or is it just for you?
3 Do you require finance?
4 How often will you use the property?
Your answers to these questions should allow you to make a reasoned judgment call as to whether you should be looking at investment property in Spain or buying a Spanish holiday home.
If you would like some advice or more information on the process of buying or investing in Spanish property why not contact us at Spanish Hot Properties.