Javea…a place where many people would want to spend their time during the summer. It is a perfect place for people that want to recharge their batteries for the holiday and continue working on their duties after that effectively. However, why would you visit this place only once a year (or less than that)? You can always purchase a property in Javea and make this place your second home.
Well, there are multiple reasons why this decision would be beneficial for you. First of all, it is a long-term investment; you will have property there and you can do whatever you want with it until the end of the life. Despite that, many people want to live in a peaceful place after they retire. If you are one of them, then you can be sure Javea is an excellent place where you can enjoy your days (especially if you love a decent climate). In the end, if you have kids, they will use it as well after you die.
Things we said maybe sound like “too long-term” plans. However, if you agree with everything we said, then you should also know a couple of things before you make that sort of decision. We will highlight the most essential tips that will definitely make your purchasing process a lot easier. So, let’s get started!
Before Everything – Research the Real Estate Market in Spain
Of course, everything starts with proper research. You need to see how many options you have and to check how much money you will have to spend on your property. While you are reading this article, there are probably hundreds of opportunities that will look amazing at first glance. We don’t want to say they aren’t perfect, but you probably have some additional requirements. If you want to ensure complete satisfaction, you need to find a property that will meet all your requirements and expectations.
The good news for all the people is that we are living in the 21st century. You don’t have to go to Javea to check out all the options you have. Instead of that, you can visit websites such as valuvillas.com and see all the building plots and land for sale in Javea. The good thing is that websites like that offer you to filter your research. For instance, you can select a minimal and maximal price, number of bedrooms, property type, etc. All these factors will help you make the right decision.
Now Connect with Local Legal Representatives
You probably have a lawyer at home, but that will not enough. It is a much better option to hire a local legal representative that will guide you until the very end. There is a lot of paperwork you will have to complete, and that can be tricky (especially if you are not familiar with the law and you do not speak the Spanish language).
A couple of things the lawyer will help you with are all procedures associated with tax regulations, liabilities as well as overall local laws. Keep in mind that laws are not the same for tax and non-tax residents in Javea.
Once again, use social media and Google to find a lawyer that deserves your attention. If you have a friend in Javea or you know someone who has already purchased a property, then you should ask for recommendations. You can also check out reviews online and see what previous customers have to say about the services of the particular legal representative.
Ensure to Get an NIE Number
We assume that you are not a citizen of Spain. In that case, you will need to get an NIE number. It is actually a tax identification number that all foreign property buyers in Spain need to possess. There are two options in this case – a lawyer or fiscal representative can obtain this number and make things easier for you.
Find the Best Spanish Bank for Your Needs
Choosing a Spanish bank is going to be necessary because you will not manage to complete the transactions with the bank account you have in your country. Despite that, even if that’s possible, it will be too expensive to transfer money from your current bank account when you pay the bills in the future.
Of course, we once again need to remind you that purchasing a property in Javea is a long-term investment. If you decide to live one day here, then you will need to have a bank account that will allow you to receive your pension from a foreign country.
Check out the Debts
If you are buying a completely new home, then you do not have to deal with this problem. However, if you are buying the property from someone else, then you need to ensure that there are no debts on the house. Keep in mind one thing – laws in Spain are a bit different from the ones you are familiar with. The debt is not following the seller – it follows the house. So, if the previous owners have the debt, you will automatically get it when you purchase your property.
This is another reason why hiring a lawyer or any other legal representative is mandatory. The experts in this field will easily look for all the documents to confirm that debts do not exist. They will, for instance, check out whether there are some unpaid taxes. If the previous seller does not pay them, you will have to do that.
Of course, some owners will be honest and reduce the price of the property and allow you to cover the debt in that way. However, it is a bit risky to count on that option, isn’t it?
Final Thought
When you look closer, everything depends on the effort you invest to research everything. You primarily need to find the property that meets your requirements. After that, you need to find a lawyer that will work hard to ensure everything around your future property is legal. Because of that, don’t hesitate to spend more time on everything. It doesn’t matter if the entire process lasts for months; this is a long-term solution, and the property will remain yours for a long time.
There is plenty of free advice and guides available from property specialists like RWinvest, so you can make informed decisions on whether it’s the right opportunity for you.