We’ve always known that investing in bricks and mortar is normally the most lucrative and wisest investment you could ever make.  But with the continuing price rises in the UK many are looking abroad to buy an investment home and future nest egg.  Spain has always been first choice for many, with year round sunshine and relatively cheap cost of living.  But what do we buy and how?  Here are some top tips to make the right choice and get the best investment.

1. Get the help of an Estate Agent

Estate agents are a must in the UK and in Spain you cannot afford to be without one.  They will help you to find the right property and take the headache out of property searches especially if you don’t speak Spanish.

2. Nothing beats good legal advice

As with using an estate agent to look for the right property, make sure you have the right lawyer when making your final purchase.  It’s amazing how many people are willing to buy something abroad without the use of a reputable lawyer.  It’s something they wouldn’t dream of doing in the UK. 

3. Know the right time to buy

The time of year you begin your search is important.  Spring is the busiest time for Estate agents and July and August the slowest due to the summer holiday period.  In September the market picks up and remains strong until early December when people turn their minds to Christmas.  The rate of sales remains sluggish until March when it starts all over again.  The best time to buy is when the market is slow.

4. Location, Location, Location

As in the UK, where you buy counts just as much as what you buy.  Narrow your location choices to just a few places and think of resale value when considering a property, and will it make a good rental? Make sure necessary shops and services are located nearby and try and make sure surrounding properties are of a similar standard and size. And try and get something located near the centre of town but beware, if the shopping centre is in decline don’t buy there.

5. The bigger isn’t always the better.

In any residential development houses vary in size but if you’re looking for maximum resale value don’t choose the largest house on the block.  When determining market value the houses nearest to yours are taken into consideration.  If they are smaller then they act as a drag on appreciation.  

6.  Kitchens, Bedrooms and Bathrooms

Don’t assume that the more bedrooms you have the better the property is.  In Spain two and three bedroom properties have the quickest sell-on value and you should try and stick with this when buying.  Two bathrooms is a must and as most will tell you, a large kitchen is the heart of the home.  Make sure there is access to the garden for the all important barbecue.

7. Money, money, money

The simplest fact is – can you afford it?  Stay within your budget and consider what you are buying.  Consider the pros and cons of buying abroad and always factor in costs including existing commitments and future expenses.   

Buying a home is a rewarding experience but remember to invest in the location of your home first and foremost.  Research is key in buying abroad and you have to have patience and time when making such a huge investment.  If you remember that location is the primary factor in property, your money will continue to grow through the years and earn you your share in the property world.