If you’re like most people, you dream of buying your first property one day. But where do you start? If you and your partner are planning to invest in a joint home, it is important to do everything as a team. An equal investment means consulting each other on every aspect of the property acquisition and decoration.
Below are some tips to make acquiring a new property easier and less stressful for you and your loved one.
- Real Estate Agent – When buying a property especially in a foreign country, it is important to find a good real estate agent, one with an English-speaking team of real estate professionals. They take care of all the legalities and can also provide finance at low rates and when everything is complete, they hand you the keys to your new luxury apartment and you can start to plan the décor and furnishings.
- Think Europe – Let’s face it, property prices are just too high for a first-time buyer and with stunning yet cheaper new developments in southern Spain, it’s best to consider acquiring one of those La Cala de Mijas properties for sale. Feel free to check out with your real estate agent and view the different affordable luxury apartments in these new developments. If you both work online, what’s stopping you relocating to sunny Spain? Prices are actually affordable and this is the main reason so many professional couples decide to relocate to a warmer (and cheaper) climate.
- Calculate Your Budget – Whether you prefer Spain or Portugal, you and your partner need to sit down and work out how much you can afford to repay on a monthly basis, one thing is for sure, you will get much more for your money than if you purchased in countries such as the UK. Talk to an independent mortgage broker and see what amount you can be approved for. Luxury apartments are very reasonably priced in Costa Del Sol and there are new developments in Alcaides, which are ideally located in a beautiful part of Spain.
- Joint Decisions – As you are both committing to this financial obligation, it is only fair that you are both in agreement over every aspect of the apartment. Location, size, and layout, are all aspects that need to be looked at and agreed upon. Perhaps one of the hardest decisions is location. There are so many attractive regions in southern Europe. Costa Del Sol, the Algarve and parts of southern Italy are all hotspots for professional British couples. You are only a short flight from the UK, if you get homesick and wish to spend some time with your family.
- Sourcing A Home Loan – This can be next to impossible if you are looking to buy a flat in other countries, whereas, Andalusia is home to many luxurious apartment developments and the real estate agent can put you in touch with a reputable lender, who can tailor the loan to suit your lifestyle. Typically, a leading Marbella-based real estate agent would have a working relationship with a number of mortgage lenders and can assist with every aspect of the process.
When you are pooling your assets with your partner, it is important that you are both happy about the arrangement and you can start the next exciting chapter of your life. Marriage will likely be on the cards and that is yet another expense to save for, which might have to wait a few years.