Although the numbers looking to purchase property in Spain has gone down in the last year or so,Spain is still a popular destination for those seeking to buy a property abroad. And why? Because there is no doubt that Spain delivers A BETTER QUALITY OF LIFE of course!
Reading a recent article posted on the Eyeonspain website by Mark Wilkins of The Rights Group, I felt that I just had to make some comments. Whilst I agree with many of Marks comments, I do disagree with the advice he gives to prospective property buyers that they should rent a property for 3 to 6 months prior to making a decision to purchase.
Here's what Mark has to say: "Is that totally correct or would it be right to say that the purchasers looking to buy in Spain have changed? ..The numbers may be less but the quality of the buyer is definitely up. It's excellent to see an educated and informed public who roughly know where they want to buy and largely what they are looking for. They are internet savvy, ask loads of relevant questions and have clearly done their homework. These purchasers take time to seek the RIGHT property, in the RIGHT location and â€" most importantly at the RIGHT price..." Yes, it's true, Spanish property sales have declined in the past few years and many of those intending to purchase are more informed than they have been in the past years - due to the internet revolution a wealth of information is now available on-line, something that just wasn't there a mere 10 years ago.
"Why this demand? asks Mark" "Amid the tales of woe about the Spanish property market why are they still looking at Spain?! Open any publication over the last year or so and see the wailing and beating of chests about the Spanish market. Don't they know! Hasn't anyone told them! Do they need their heads examined!! The answer is they have voted with their feet â€" as have many before- in search of a new and different direction in life.The demand is simply there because no where else in Europe delivers better weather, better year round sports, better medical and communications infrastructure - all in all Spain delivers A BETTER QUALITY OF LIFE.
Don't take my word for it" he goes on to say. "In research conducted by UKForex nearly eight out of 10 Expats are happier living abroad than they were living in the UK. Of those who spend time out of the UK and choose Spain as their home they appear to be the happiest of all, with more than 90 per cent saying they are happy with their lives here. The survey showed that most people - around a third - moved to seek a better quality of life and according to the research it seems that many have found it in Spain."
"Moving away from the UK, for many is not something that they would undertake lightly" says Mark."Losing day to day contact with friends and family at a later stage in life can be a strain... many new clients are seeking to combine life in the UK "or other home country" and spend perhaps six months of the year in Spain. October to March seem to be the preferred months in Spain for a variety of reasons primarily related to the weather."
But it's not just the sun that's the constant lure for those struggling to heat an ageing and now partially unused family home in one of those spots around the UK or other parts of Northern Europe that have seen substantial growth in value over the last ten plus years, Mark goes on "In the days of under performing equities, the credit crunch and fears of recession stemming from the continued sub prime fallout from the US, there is actually some sound retirement planning at play."
He goes on to comment on how living circumstances for many has now changed in the UK: "A non-existent or materially diminished mortgage that can be easily paid off on sale opens a Pandora's Box of wonders for those whose children have left home to make their way in the world. That four bed roomed house which was an essential when they were growing up may have become a millstone. The recent rises in the Council Tax bill, above inflation rate rises in utility bills and generally the costs burden of maintaining a too large property has prompted many to look at alternatives. It's now usual for them to see the kids for Sunday lunch when they load up on a Roast and collect their now clean washing deposited the week before." Sounds familiar?
Another big change Mark notes is in the relationships between grandparents and grandchildren. He was talking to a couple of golfing grandparents recently and they told him how their kids and grandkids actually look forward to coming to Spain to spend some quality time with them. "Oh no, not another trip to Granny'" turns into a playground brag "We are spending summer with Granny in Spain"! they explained. I can vouch for that too. We have a 4 yerar old grandaughter back in the UK and even at the tender age of four years we are already subject to comments like " I haven't been to see you for a long time have ?" "I want to come to your house." "When am I coming to see you?" I'm sure we will be bombarded with these requests as she grows as she (and her parents) have a great time when they are over here. And yes, although we don't see her as often as we would if we were back in the UK, the time spent together is quality time and the relationships very are strong.
Mark picks up on what he sees as another recent trend - rental enquiries soaring over the last few weeks with many applicants seeking an early foothold in Spain whilst they try on the Spanish way of life - but I hardly see a snapshot of activity over a brief few weeks period as a "trend." This needs to be viewd over a longer period.
Now here's the point that I disagree with Mark over. He advises people to rent for a period of three to six months before they buy. "Until you have had the experience of day to day life in Spain, after the first blush of the love affair may have waned a little, you'll not know whether you are happy to commit to the reality as opposed to the dream. In our experience, it also gives the potential buyer time to really look around. To find favourite locations, golf courses, restaurants, clubs, friends etc."
But I would argue that 3 to 6 months is hardly enough time to decide whether Spain is the place for you and renting instead of buying straight away can bring its own problems. Whilst some people settle in straight away, others can take much longer. What's 3 or 6 months out of your life when you can be talking of spending maybe the rest of your life here? I would recommend a minimum of about one year. And I would not always advise on renting a property first. This can have negative effects. Many people don't settle because they can't settle into a home that isn't their own and return back home disappointed, whereas they may have settled in straight away if they were in their own home.
Also, on the question of renting whilst seeking out a property to buy.I have seen many people in the past who have taken this approach - and many who have gone back to the UK in tears, having spent months and months driving around and seeing that much that they just cannot make up their minds,or they have tried to find a property off their own back without the help of a trusted agent - which for all sorts of reasons can be an impossible task to achieve.
With all the information that is available on the internet today, is is almost achieveable to find the perfect home in the perfect location without even leaving the comfort of your home in the UK.