When it comes to buying holiday property, who doesn't want a bargain? If you've always wanted to own a second home, buy to let or holiday property in Spain, now is the time to buy. Why?
The housing market in Spain has been experiencing some decline. People just are not buying properties. This means that there are more properties on the market than there are buyers. When this happens, a buyer's market is created. In a buyer's market, you can buy virtually any house you want for a great price.
Currently, there are bargain properties to be found all over Spain. Whether you want to purchase an island property or an urban property with a quick train link to London, you can find it in Spain. Granted, one man's bargain is another man's "out of reach." So, you will have to do some research to find the best area, the best bargain and the best deal for your particular financial situation.
One of the cheapest places to buy property in Spain is Costa Blanca. Here flats start out at about 40,000 pounds and top out just a little over 150,000 pounds. Bargain prices on property can be found everywhere and a party atmosphere is a plus for some people. For others, the area is a little too thrown together and boisterous for their tastes. Properties here are not normally the highest of quality, but they can be purchased cheaply.
On the other end of the spectrum is Costa Brava. Property prices here start out at about 300,000 pounds for a standard apartment. Shops, transportation, culture and fine dining make this the hub of Spain for many people.
In addition to these two locations, there are properties all over Spain in virtually every price range. In order to find a bargain, you need to set a realistic budget. If you need help with this, you can talk to a financial expert or mortgage lender. You can even gain a lot of insight by using a mortgage calculator.
Once you have a clear budget in mind, start studying areas of Spain where you would like to live. Take everything into account including the cost of living, stability of housing market, location, amenities, lifestyle, etc. Think about everything that will affect your purchasing power.
When your budget and preferences agree on a particular area to settle, start looking for properties in Spain. The help of an agent located in Spain is invaluable. He or she can let you know about new properties being listed and give you an idea of what list prices are bargains and which ones are inflated.
Remember; the housing market in Spain is experiencing a slow period. If you do your homework and find a bargain in today's market, the property will appreciate substantially when the market turns around. You stand to earn quite a bit on your investment if you are willing to put in the time to find the property and hold onto it for a while.