If you have the financial capacity to buy in cash, the better, since you avoid paying interest; if not, experts advise not to allocate more than 40% of your salary to the mortgage. If the purchase is made among more people, for example, your partner, that percentage can be relaxed. If you are one of the lucky ones who have bequeathed a property, here we tell you Geographic location. The value of garden building is, in general, growing, as well as the rents paid by tenants for them. However, these increases vary greatly depending on the location of the asset.
Better in urban environments
Not only is the territory important, but also the most specific location. In this way, buildings located in urban areas tend to be more liquid because they have a greater demand than those found in rustic areas. Also, large cities provide more security for the stability of these markets and better leasing possibilities.
Area with services
The infrastructures surrounding the property are equally essential for it to gain in value or if you want to rent it. Close to public transport, schools, shops, hospitals, restaurants or entertainment, key. You can simply check this website for the best results now.
Areas with greater demand
To the previous factors related to the location, it is necessary to add whether or not the place has a pull on the market, which will influence both the price of the property and the subsequent profitability options.
Garden building age
The Spanish real estate park has notable disproportions between some areas and others, with floors or houses that are already many years old and others that fit into the recent work designation.
Garden building Status Obviously, the better a property is, the more interesting. However, we recommend you not to discard an asset because its status is not optimal. Thus, there are apartments or houses at affordable prices that, after a reform, can be revalued.
Extras and common areas attached to the house are interesting, from the most classic, such as the garage, the pool or the gardens, to the paddle tennis court or the gym.
Additional property maintenance expenses, such as community payment.
If the property in which you invest you are going to dedicate it to the rent, you must check if both the area in which it is located and the parameters that it has fit the current market demand.
Check all the taxation associated with the purchase of the property, an issue that is so in vogue for the modifications introduced from the courts and that in some cases can still change.
Request an appraisal: only then will you be sure of the price you are paying is correct and you can negotiate it.
- Make a purchase promise before the notary, where the buyer and the seller deliver a guarantee check for 10% of the value of the property.
- Review the property titles. It is important to verify that there are no errors in the purchase and sale procedures of the last 10 years.
- Establish conditions of purchase and sale in writing, including the value of the transaction, the interest rate, insurance and the cost of the dividend, in case of requesting a loan and finally the term for the delivery of the property.
- It is important that the accounts of services, common expenses and contributions by the seller are canceled until the moment of the inscription of the property in the name of the buyer.
The key to a safe purchase is to determine the conditions for the delivery of the voucher seen by the foot or by the value of the property. This means that when making the purchase, the transaction money must be left in the notary through a voucher seen in the name of the buyer, establishing in detail that it will be endorsed to the seller once the property is properly registered in the Conservator of Real Estate on behalf of its new owner.