Still on the fence about whether you should make that Spanish property purchase or not? We asked our partners at South Spain Properties why you should go ahead.
1. The banks are lending again
Back in 2007 and 2008 when the recession hit hard the banks tightened their criteria making it extremely difficult to get a mortgage. They are now becoming more relaxed and making it easier to get a mortgage again.
2. Real estate investors will benefit from low interest rates
The interest rates had been slowly climbing over the past year until recently, but the current market situation has made interest rates lower, so it is a perfect time to get yourself lower monthly payments.
3. Although prices are on the up there are still some good deals you can get your hands on
Now is the perfect chance to get your dream home for a good price and depending on the exchange rates you can make a profit if you decide to sell it. Some properties we sourced for our clients less than a year ago, we have already sold for them again – returning a healthy profit. Plus, for that year they did not have to pay the hefty rent that you find on many properties in the southern Spain area.
4. Job Security
With job security not what it once was, sound real estate investing is one of the best ways to make money – make sure you talk to your estate agent about investing and what you would like to achieve in the future. That way your job doesn’t have to be a necessity, especially if you are looking at retiring in the near future.
5. Keeping in contact
With technology as advanced as it is, you can keep in touch with your estate agent by email or phone, with them updating you with new projects or interesting renovations. Plus, you can now send your property deposits from anywhere in the world. If you have a lawyer here in Spain and give them power of attorney, you don’t even have to move from your armchair.
The biggest reason why you should buy now? Because in ten years you will be wishing you did!
So, don’t delay, get in touch with South Spain Properties and let us help you find that property you’ve been thinking about, before you miss your chance.