The truth about doing your due diligence when buying a home in Spain
There are additional checks you should always do when you purchase property beyond the usual property inspections
It’s beyond doubt that property inspections are essential before you buy a property, but there are other aspects of due diligence you should be aware of before your buy a house in Spain. Some matters require your personal attention, as neither your lawyer nor your technician will cover them.
For example, if you plan to rent out your property in order to earn some extra income, it’s vital that you understand the new ‘Ley de Vivienda’ Housing Law of 2022, which limits rent increases and grants new rights to renters.
Additionally, if you intend to rent the property out as a touristic apartment, then there are local restrictions and registration requirements that you have to be very careful to comply with.
Engaging with the local community by talking to neighbours can provide invaluable insights into the area you’re looking to buy in, including potential issues or concerns. This personal touch can reveal hidden details about your prospective property and the surrounding area that you may otherwise have missed. And don’t be scared to go knocking on doors – many Spanish communities are close and happy to help each other out.
In conclusion, make sure you conduct your due diligence on matters that require your attention before finalising your property purchase in Spain.
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