Buy To Let Spain

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Buying property abroad can be exciting and Spain is no exception as there are a wide range of types and styles of property available.

For those wishing to purchase property to rent the main points to remember are like those in England make sure first and foremost the right area is chosen. Then decide on the type of property. However the chosen area should be visited to make sure that it is really suitable for buy to let and make sure that tenants are easily obtained in the area.

Homework should be done here, like anyway else, and should include making sure that the location is suitable, the property has the necessary utility supplies and that shops, roads, airports and medical centres are within easy reach. Also necessary is to find a reliable management company or someone local available to manage the property.

Of course like England, the rent must cover the mortgage repayments, property management and running costs. In fact buy to let properties abroad a very much like those in England except they usually have more sun and local customs.

Other points to note are that all property in Spain is advertised in Euros and the price does not include Spanish tax that is around 7% of the property value. When working out finances around 12% to 13% should be added to cover costs and legal fees.

An English-speaking lawyer is also necessary so that all documentation is understood before any signing takes place. The main advice is to find the right location and some hot spots are Alicante, Benidorm, La Manga and Marbella.

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