Do not compare prices directly – no two homes are the same!
When you compare properties you are interested in, take into account:
1. How easy would it be to resell and for how much ? I.e., how long would it take to get 80% of what you paid back?
2. How much is the property + renovation ?
There are many very interesting properties in Spain, which need complete restoration or major renovation. If you don’t mind or even enjoy the process, this could be an appealing option.
3. Check maintenance and running costs – a home is like a car: Buying it is one thing, keeping it running another!
Think about heating (electric, gas, oil, solar, …), pool maintenance, gardening, taxes, community costs, insurance, etc.
4. Do not think you are an expert just because you already bought another home, are an engineer or experienced DIY’ler !
Properties are very different depending on where and when they were built. From building materials to geographic influences to possible pests, there is absolutely no way you can beat a local expert’s opinion.
I have made at least 2 of these mistakes. Have you made or are aware of others? Let us know in the comments below!