WHILE many expatriates purchase a home in Spain with a view to moving to the country for a variety of exciting personal reasons, whether it is love, work, or simply enjoying the fruits of a lifetime of hard work.
Many others acquire property chiefly as an investment. If this sounds like you, then some of the fundamentals in buying a home should be given a higher emphasis. One central question is whether there are hidden debts associated with the property that might make an unwelcome appearance in the guise of the taxman, years down the line.
Things like unpaid council taxes (IBI), and unaccounted for personal or inheritance taxes of the owner, can seriously affect your later ability to capitalise on your property investment. If you have been closely following news on the Spanish property market you’ll also be aware of the incredible importance of ensuring that your new investment acquisition was built with proper planning permission.
This also includes anything constructed after the original build, such as swimming pools and extensions. In this respect a full survey is highly advisable, preferably with a local expert you can trust to get the job done comprehensively and ensure that there are no unwelcome skeletons in the closet.
Be sure to consult with a property specialist too to guarantee that your investment is in tip top shape.