Tips for buying a home

Driven by the new demands of thousands of families because of the COVID-19 crisis, the sale of villas in Spain is experiencing its most important moment in 14 years.

According to notary data, a total of 47,536 single-family homes were sold nationwide from January to April, an increase of 60% over the same period last year and the highest figure in the first four months since 2007. Which coincides with the peak of the last bullish cycle. Source INE.

In the first months of this year, an average of about 400 villas were sold per day. Compared with the average level of the last ten years, it fully reflects the most difficult moment of the economic and financial crisis and the bursting of the real estate bubble, with a growth in transactions close to 80%. The current figure is even close to the business volume for the entire year 2013, which was the worst year for the real estate market, when the sales volume of single-family homes registered was 58,467 units.

Therefore, the official data is consistent with the real estate industry in recent months that an increasing number of compromises of homes with larger houses and outdoor spaces have been discovered, which is in line with the restrictions enacted to prevent the development of a health pandemic.

Tips for buying a home

For property changes, several aspects must be considered, such as how much you get from the sale or lease of the apartment or house in which you live, and if that is enough for the purchase of another home. In addition, the costs of maintenance, energy, community, IBI, etc. Due to the nature of the property, its size, and the importance of betting on security measures such as home insurance or alarm systems, all of this will increase the price of its sale. You should also consider the need for your own transport, as in most cases the chalets are further out and on the outskirts of the city center.

If you have the purchasing power and sufficient savings, this is a very effective option. Because it is always better to move to a home that suits our needs.

If you are looking for a property away from the cities or want to sell yours, you can contact us. At Engel & Völkers we are experts in the real estate sector, and we have more than 40 years of experience in the sale of luxury real estate. So, if you need help selling or finding your home, we can help you.

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