Best areas to buy a home in Spain

Knowing the best areas to buy a home will give you the necessary information to buy a home as a habitual residence or to invest in housing.

Buying a home as a habitual residence

In Spain, most of the population chooses to buy their habitual residence instead of renting it.

This process entails a significant economic outlay and it is necessary to know where to buy the habitual residence and what aspects must be taken into account.

Where to buy a home

The location of the habitual residence is influenced by different factors that must be assessed, so in order to know which are the best areas to buy a home, it is necessary to take into account:

Housing type. If you are looking for a specific style of housing, such as rustic or semi-detached or duplex, you will have to buy in the area where that type of housing exists.
Services. There are areas where you can find all kinds of services and others where there are only a few.
The work center. Except in cases of teleworking or without a fixed place to go, the distance and connection to the place where you have to go daily will also influence when looking for the area to buy a home.
Colleges. If you have children, the proximity to schools will be essential to avoid using the vehicle daily.
Family. Having close relatives is, in many cases, essential help and support. Living near them can be practical.
Previous place of residence. If you are going to buy a home but have been living somewhere else for a long time, it may be more convenient for you to buy a new home in a nearby area.
General or specific needs. Depending on the needs of the family, it may be necessary to live in a specific area.

What to take into account when buying a home usual

In addition to the location, other aspects must be taken into account before buying a home:

Owner and charges of the home. It is done by requesting a simple note or certification in the Land Registry. It describes the home, the owner and the charges that fall on it.
Location. Evaluating all the aspects analyzed in the previous point.
Technical Inspection of Buildings ( ITE ). Every ten years, all properties that are over fifty years old will have to pass control. The Autonomous Communities and Town Halls may establish a more demanding regulation.
Community of owners. If it is an apartment or a house that is part of an urbanization, you will have to pay a monthly fee and abide by the established regulations.
Town Hall. It is advisable to find out about complaints about housing or projects in process that influence you.
State of the house. In the event that it is a second-hand property, the plumbing, electricity and other important elements must be checked.
Home value. It is essential to know the minimum sales value established by the Autonomous Communities, which is calculated taking the cadastral value as a reference. It serves to avoid fraud in the deeds.
Purchase and sale expenses. When buying a home you must take into account, in addition to the sale price, the cost of the real estate agency, the deed, the Property Registry, taxes and the agency.
Mortgage. The most common thing is to need financing to purchase a house and it is best to compare different types of mortgages and financial institutions.

Buying a home as an investment

One of the most common options in Spain is to buy a home as an investment to make savings profitable.

To obtain a return you can buy a home to rent it or acquire it to renovate it and sell it again.

When renting, you can opt for long-term rental or tourist rental.

The most common question that may arise regarding investment in housing is where the best real estate market opportunities in our country are located.

Buying a home in a town or city

After the pandemic, living and visiting towns became a trend, so it may be a good idea to invest in housing in a town.

The difference compared to large cities and coastal areas is more than notable. The purchase price is much lower and the profitability is much higher.

However, you must take into account what type of rental the home will be used for to choose the correct location. If it is a long-term rental, a town with many inhabitants will be better and if it is a vacation rental, a tourist town.

The most desired rural areas are found in the provinces of Huesca, Teruel, Cáceres and Segovia. Also, the regions of Baix Ebre, La Garrotxa, Pallars Sobirà and Val d’Aran in Catalonia.

If, even knowing that investing in a town is more profitable, you want to buy a home in a city, you should know the best cities to invest in housing.

Best cities to invest in housing

The best cities to invest in housing are not the largest, Madrid and Barcelona, due to the high prices of their properties.

Therefore, it is more advisable to invest in Lleida, Murcia, Huelva, Santa Cruz de Tenerife or Almería, where the profitability can range from 6% to almost 9%.

In the best areas to buy a home there are differences as to whether it is for habitual residence or for investment. In the first case, you must take into account the services, needs and preferred location, in addition to the price and other aspects such as the charges of the home. In the second case, it is better to invest in housing in towns or small cities.

Further information

This article is part of our service Real Estate Lawyer in Spain. Visit this section where you will find all the useful information on this topic, including a complete guide on How to buy a house in Spain.

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