Lanzarote Villas How To Buy One

May 23, 2013 by  
Filed under Travel information

Many people are buying a holiday home in Lanzarote, not just for use as a holiday home for themselves, but to rent out and as an investment for the future as they see poor returns on other investments. So where do you start and how do you make sure that the decision you make is the right one?

This article is aimed at buyers whose primary interest is buying the right property for their own holidays, and renting out is of secondary importance.

Firstly buy a good book like “Buying a home in Spain” by David Hanpshire – a source of so much great information. Decide on the dates for a buying trip and give yourself plenty of time for research prior to your visit. Most of that research will be done on the internet. Your choice and location of property will much depend on your preferred area and your budget but if you have an open mind, then there is no shortcut to spending hours on the internet looking through estate agents websites which you´ve found through a search engine. Bear in mind that a lot of estate agent website are quite often not up to date and often a property shown as being for sale isn´t. Once you´ve confirmed that your chosen shortlist of identified suitable properties are for sale, and you´ve made appointments with the agents to view the properties, you are ready for your trip.

Once out in Lanzarote, take an initial tour around your preferred location(s) so you can have a number of questions in advance before viewing. The important thing to remember is that the estate agent is representing the buyer and has their interests at heart, not yours. Take everything you are told with an open mind. Whilst you are there, go into as many estate agents as possible as properties may be for sale which are not on the internet. Having viewed all the properties which interest you, make sure you have left enough time to go back to any which are serious contenders. This time you will be on your own. Talk to residents in the area and try to get a feel for the development. You´ll find if you just stroll around the area, there are always people willing to chat with you. Find out everything you can, including who they bought from, what lawyer they used etc. If there´s a local pub, go in there and chat to people including staff. You can gain a mine of information from such talks.

By the end of your trip, you may be ready to purchase. If you´re not sure – don´t. Come back home and think about it.


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