The gradual recovery of the economy, together with an offer of mortgages and homes at very competitive prices, is making buying a house in Spain once again an attractive investment for both Spaniards and foreigners. Below, we summarize the best tips to make the purchase of your apartment a success:

1. Be clear about your budget

It seems obvious, but when buying your house you have to know how much money you have and evaluate what you are willing to borrow through loans. Therefore, make a balance of your savings, income and expenses, without forgetting to leave a margin for unforeseen events.

2. Choose the area and the type of housing

Prices vary considerably depending on the neighborhood we choose. Take into account its educational, health, sports or commercial facilities, that it is well connected and that it has green areas. If you are a foreigner, you will first have to decide which region of Spain you prefer, since the offer is very varied: beach, mountain, big cities, quiet villages...

As for the type of property, you can choose between new or second-hand homes. . At Taloki we make this task easy for you, offering you a multitude of single-family homes, flats, penthouses, villas, chalets and other residential options at unbeatable prices.

3. Visit the property and analyze its pros and cons

Once you have chosen the area and selected the properties that best suit your needs, we recommend that you check the status of each home to make sure that they meet the advertised specifications and find out about their legal situation (absence of previous economic charges, energy rating, local regulations). It's also a great opportunity to assess your location and its ability to appreciate in value over time.

After examining the advantages and disadvantages of all the candidates, it is time to decide on one and negotiate the final price with the real estate agency or the current owner.

4. Find the bank that offers you the best mortgage

If you need financing, compare the mortgage loans in various banking entities. The rebound of the real estate market in Spain currently offers much more favorable conditions for the buyer, so analyze the characteristics of each one (fixed or variable interest rate, repayment terms, opening costs, commissions for early cancellation, etc. .) and keep the most advantageous.

5. Sign the deed of sale

The next step is to formalize the purchase of your new home before a notary by signing this public document with the seller, which grants you the property title to the home in exchange for the amount agreed with the owner. In advance, it is advisable to obtain a draft of the contract and consult an expert to see if everything is in order. After signing, the notary will register the deal electronically in the Property Registry, a mandatory procedure that legally declares you the owner of the property.

To avoid surprises, do not forget to reserve an amount for the payment of the notary and registry expenses, as well as the taxes corresponding to the purchase, which usually represent 10% of the price of the property in the case of new construction.

As a final piece of advice, remember that when buying a flat you should never rush, which does not mean that you have to miss out on a good opportunity. Analyze the market, compare and make your decision. Once you have chosen, you will only have to enjoy your new home.