First of all you have to decide which is more important
Your own use or rental as this may affect the location you choose, the type of property and how you fit it out
First rentals
If you want to make a return on rentals then you have to work very hard at it yourself, just leaving it up to rental agents is no good [it’s a business!]
It is not easy but quite a lot of people with all types of properties do manage to get sufficient rentals to help towards the running costs and mortgage
But when buying do not rely on the projected rental
Any projections you are given are just that and guaranteed rentals in general just do not exist: just marketing and built in to the price
I suppose a general rule of thumb is that to have any chance of rentals you have to be close to a good beach for summer lets and close to good golf for winter ones [good walking also helps]
UK renters in the main want Sky and air con, Spanish close to beach
And you have to provide a good service and competitive rates
Renting to family and friends is of course a different matter
Buying for your own use then it is just a matter of deciding on the location area you like best, do a lot of research [lots of info on EOS[, having a conservative budget and then go to Spain to have a look
Some do it all on their own and others use an agent as it helps them through all the buying procedures
The days of going on a dedicated[pressure] Inspection Trip are perhaps over. Still exist and OK for some but today it is probably best to narrow down a few agents who you would like to deal with and see what they can show you in your chosen location
In the end it has to come down to a personal choice deciding who you will deal with and buy from
Good agents can be very useful and helpful just like in the UK
One thing you can be sure of just now and that is you will get very good value for your money in 2009 even allowing for the exchange rate [ expected to go up to circa 1.25 in 2009]
You can also look for properties at say 25% or so above your real budget as negotiation is the order of the day now
Not all discounted properties are good buys and not everyone has to sell, so you may just find your ideal home in Spain but find the seller is not flexible on the price……....then really you just have to walk away and start looking again
Not a comprehensive post of buying in Spain , just a starter and most importantly’ let your head rule your heart’ not the other way round!
And apply the same approach to buying in Spain as you would in UK