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Ten tips for investing in property in Valencia

In recent months, the property market has been offering plenty of opportunities for all types of investors. This is especially noticeable in a city like Valencia, which is experiencing good growth in the sector after the difficult years of the crisis. Here we want to give you 10 valuable tips that will be very useful to you when making an investment in this market.

1. Analyse the situation. First of all, it is imperative that you study the state of prices and, later, the possibilities of capital appreciation of the property you are thinking of buying. This should be done both in new and resale homes.

2. The mortgage should never exceed 40% of your salary or your general income. If you have to borrow money, that is the figure that should never be exceeded. Anything more will not be a profitable investment for you.

3. Study the mortgage interest rates. Not all mortgages are the same and not all banks offer the same conditions. Find an adviser who will study your case and offer the best alternatives.

4. Beware of taxes. The taxation associated with a home can be as important as the final price itself. The IVA, the Tax of Patrimonial Transmissions and the Documented Legal Acts can impose very high taxes.

5. Take into account the service charges. You may have reviewed all the previous sections here and believe you have found your perfect home. However, if the service charge fee is very high, it will be a deterring factor.

6. New or renovated? The resale market is experiencing greater growth in Valencia than new-build. But if you have time and can wait, the second option may be better for you. You can easily save 15% and not have to do any renovations.

7. Always have reserved funds. After buying your home, unexpected expenses or problems can arise. The best thing to do is save 20% of the total value for any costs that come up along the way and another 10% for contingencies.

8. Visit the neighbourhood before you buy. A good house for an excellent price in a neighbourhood with a bad atmosphere will never be a good investment.

9. Prioritise the area and haggle on the price. The 'holy grail' of any real estate investment. A well located flat in the centre for example, will yield more profitability than another in the suburbs.

10. No hurry but no hesitation. Do not rush to buy, but do not pass up a good opportunity thinking there will be a better one.

If you are planning to buy a home in Valencia, now is the time. The best option is to visit the offices of Engel & Völkers, a prestigious real estate company with extensive international experience offering a vast portfolio with the best properties of all the characteristics.

Engel & Völkers

Luis Vives, 6
46003 Valencia
+34 96 351 78 97

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