The prospect of purchasing property abroad can at first seem daunting, but with the right advice and preparation it is actually a surprisingly straightforward process…

Budget
The budget that you're working to will have a major bearing on the choice of properties available to you, so it is advisable to decide on your budget before you begin your property search. You will find that prices vary depending on location, proximity to the sea and golf courses and the type of development. Property prices on the Costa del Sol start at around £100,000 and rise to well over £1,000,000 for the most exclusive properties. Remember to add 10% to the property price to pay for legal fees and taxes.

Purpose
Aside from your budget, there are many additional factors to consider when buying property overseas. One of the most important is the reason for your purchase. Are you seeking an investment property, a holiday home with rental potential or considering relocation to take advantage of a more favourable climate and lower cost of living?

The answer will have a major bearing on the properties that are best suited to you as potential rental income and capital growth vary between areas and developments. Similarly, if you're buying a property to use yourself, you will need to consider how important factors such as proximity to the beach or access to shops, schools, golf courses etc.

Whatever your reason for purchasing property, at Live Estate we can advise you about the different areas of the coast, the investment opportunities that are available, and provide further information on properties that match your requirements.

Timing
You should also consider the timescale of your purchase. When will funds be available and when would you want the property to be available? Buying new-build property can secure the best price, but there is the associated longer wait for the property to be ready for you to move in to - or to begin generating rental income. New-build developments have varying payment terms, often including stage payments, which may have implications for the financing of your purchase.