As experts in the real estate sector in Barcelona we recommend our clients to buy a home in the Catalan capital. Whether it is for living in it or for investing to rent it afterwards, owing a property is the dream of many people. To avoid mistakes and conundrums in this delicate operation we propose you this guide to buy a property in Barcelona.
After reading this article, visit our website to find a sumptuous apartment for sale in Barcelona to turn into your new home.
It seems to be an obvious thing to do before ever thinking purchasing anything; however, we can sometimes let ourselves overwhelmed by emotion. It may be love at first sight when you visit a property and although the selling price is too high you want to buy it. Although it might disappoint you to read this, we advise you to stick to your budget. This will prevent you from not reaching your primary goal and from disillusion.
Buying a home is for sure a long-term investment and can have a significant alteration in your entire personal and family economy.
Within the budget also includes what you need to spend for the mortgage. Your monthly expenses have to be taken into account as well as the mortgage rate, work stability, a possible variation of the salary and maintenance costs.
As for the payment of the mortgage, it should not exceed 35% of your monthly income. The other two thirds should be dedicated to your daily expenses and savings. Usually a mortgage is payable over a period of 20-30 years. You should also be prepared to pay around 20% of the property at the beginning.
Realistic and flexible are the keys
Make sure the property matches with the characteristics you are looking for and able to finance. Also take into account that there might be some renovation to do. If all of these criteria do not correspond to what you can find another similar property fitting your budget.
You may to need to be more flexible in some cases as long as the essential needs are met. For instance, you may have to consider living in other neighbourhoods. Budget wise, you may have to spend a little more than previously thought if necessary.
Carried out by a professional certified IPV (Inspección Profesional de Vivienda or Professional Housing Inspection), the technical inspection will help you determine the state of the home and all the elements of the property. It concerns the mechanical system as well as the general layout and the aesthetic-environmental conditions of it.
When buying a home, you must ensure that everything is in order and in perfect condition. If the inspection determines defective items, you might consider asking for a discount.
Organise various viewings
Do not rush on the first viewing and do not take a final decision hastily. Visit the property several times and at different times of the day. Depending on the hour, you might get a different opinion from the first one. Also, you may notice some defects you did not notice at the beginning and that will you make back off.
Choose the more appropriate neighbourhood
As much as inside the property, it is essential to feel comfortable outside of it. Visit the neighbourhood in which you decide to buy a home and make thorough research about it. The quality of the surroundings has an impact on the price of the dwelling and your daily life. You would not like to be pushed to leave your new home for some discomfort generated by the area it is located in.
Even if the property meets all your requirements, it is better to discard it if the location does not suit the needs established at the beginning. When touring the vicinity, check the proximity to certain services, schools, means of transport or commercial areas. Also, although it might change at some point, you may not want to commute to work for too long every day. Driving or taking public transport every day for hours is tiring and could alter your mood.
For valuable tips of the best areas to live in Barcelona and around we recommend you to read this description.
After moving in, keep in mind that more expenses are to take into account. For instance, the IBI (Impuesto sobre Bienes Inmuebles or Real Estate Tax), the housing insurance, community owner’s fees and expenses that arise and that are related to the maintenance of the home are to be added to the mortgage.
Our ideal home to buy in Barcelona
In summary, the process buy a property in Barcelona is a lengthy, quite complex and expensive. Therefore, buying a property in Spain is a serious move that you should undergo with a lot care. Be patient, take your time, investigate, ask for advice to experts like us and do not let anyone put pressure on you that will make you regret your choice later on.
For a top selection of luxury properties for sale in Barcelona we invite you to visit our website http://www.chicroomproperties.com.