Buying a property in Marbella & Benahavis
Buying a property in Marbella and Benahavis, either as your first residence or as a holiday home or just as an investment, is an exciting but overwhelming experience particularly if you are buying your first property abroad or just your first property ever. My team of trained buyer specialist can guide and help you through all that buying process towards finding the right property at the right price for you.
There are some aspects that, as a buyer, you should thoroughly consider before moving forward with your purchase process.
select the right real estate agent
Select the right real estate agent that after a conscientious consultation understands fully your Needs and Wants. It is not about the Property, it is about People. It is about YOU. My buyer specialist team has access to more than 15.000 properties for sale at the Costa del Sol but that should not be the important factor. You should hire someone you can trust and that will defend and keep you best interest in mind. Someone that can not only make a significant impact when purchasing a property but also maximize your investment. Just there is where we have built our reputation when serving our clients needs.
CONSIDER CAREFULLY YOUR NEEDS AND WANTS
Before you even start to search for properties, make a list of your "Needs" or "must have" features that you need to have on your new property and the ones you would ideally want to have or "Wants". That list will help to clarify the process and will give valuable information to your buyer specialist in order to best serve you. The "Needs" may include the number of bedrooms and bathrooms you need, the location (if that is a need for you), the size of the terrace or the living area, a handicapped access, etc. The "Wants" are features you would like to have but are not key for the purchase but still is pat of your desires.
Select the Time Frame
The easy question is: When do you want your new property to be available for you?
Knowing that, you should take into account that, although in Spain you can buy a property in one day, in general, the process requires some time specially if you are getting a mortgage.
If you are going to need a mortgage the whole process may take about two months that can be reduced to one month if you are a cash buyer. That timing also could vary depending on your residency status i.e. if you are Spanish, foreign with residence in Spain or if it is your first property in Spain. That timing includes the search period, the reservation process, the check of the property's documentation by you or your lawyer -advisable if you are a foreign buyer-, the preparation and signature of a Private Purchase Contract and the closing at the Notary. That will also include, in case you are asking for a mortgage, the valuation and management of the mortgage process with the bank.
determine how much you want/can spend
Do you know exactly how much you want to pay for your new property? If having a clear picture about the Needs and Wants for your new property is the first step, the important second one is how much you want or can spend.
If you are a cash buyer, investor or not, and you do not need a mortgage, take a close look to your finances and decide how much you want to spend on your new property. If you have a tax advisor, it is always recommendable to have a conversation with him. Buying a property is one the biggest investment for most of us and should be analyzed carefully, and always as an investment, before making the move.
If you need a mortgage to buy, compile all your numbers and go through a financial consultation to know exactly how much you can afford. That will determine the property you can buy. If you do not follow that previous process before starting your search, you will be losing your time.
