Tips for buying a home in 2024

Is 2024 a good time to buy a home?

Despite the economic instability of recent years, the real estate market has shown a remarkable capacity for resilience. In fact, according to data from the National Statistics Institute, property sales in 2022 reached the highest level since 2007, which is the best result in the last 15 years. In addition, Engel & Völkers broke all-time sales records in 2022, closing 8,495 transactions.
These figures are particularly favourable against a backdrop of inflation and rising interest rates.

As a result of the fluctuations in the economy, many people are reluctant to take the big step for fear of what might happen. Although it is true that economic uncertainty is still present, the year 2023 could be a propitious time to find the buying opportunity you have been waiting for.

Keys to buying a home in 2024

If you have decided to buy a house this year, it is important that, before making a hasty decision, you consider the following points below:

• Assess your financial situation. Review your financial capacity and define your budget. You should consider not only the purchase price of the property, but also the associated costs such as taxes, notary, registration and valuation fees, among others.

• Where would you like to live? This point and the next one are interchangeable depending on the person, but the important thing is that both are taken into account to the same extent. Think about where you would like to start a new life, not only the city, but also the geographical location (suburbs, city centre, etc.). To do this, you should take into account the services you would like to have nearby: health centres, libraries, schools, bus or train stops..

• Think about what the property should have. Next, it is essential that the house meets your needs and requirements: garage; an extra room for teleworking; an extra bedroom for the baby you are expecting; enough bathrooms for the whole family; swimming pool or gym in the residential complex... The important thing about a house is that it gives us shelter, but it is also our home, the place where we will live very happy moments, so it is important that it makes us feel at ease.

• Research the property market. Make sure you know the property market and property prices in the area you are interested in. This will allow you to know the price range of the properties with the features you are looking for.

• Seek professional advice. If you have no experience in this sector, it is advisable to seek advice from a specialised professional. The external real estate partners of Engel & Völkers will help you to make the right decisions and to achieve the best valuation.

• Carry out a complete inspection. Once you have found a property you are interested in, it is essential that you carry out a full inspection before you buy. This will allow you to detect any problems or repairs that may need to be made before you buy.

• Select the most suitable mortgage to your profile in case you need it.

Why is it important to buy a property through a real estate agency with the expertise of Engel & Völkers?

Buying a home through a real estate agency can be an excellent option for several reasons which we will break down below:

• Access to a wide selection of properties. Estate agents have access to a wide selection of properties in different areas and price ranges. This means you will have more options to choose from and find the home that best suits your needs.

• Market knowledge and experience. Our external real estate collaborators have knowledge and experience in the property market, so they can provide you with valuable information about the market value of a property, price trends, areas of high demand, and other relevant data.

• Advice throughout the entire buying process. Our professionals will advise you throughout the entire purchase process, from the search for the property to the signing of the purchase contract. They will coordinate the whole process with the seller and other professionals involved in the transaction so that you don't have to worry about anything.

• Legal protection. At Engel & Völkers we have a team of lawyers who can advise you on legal and fiscal aspects related to the purchase of a house.

• Save time and stress. Buying a home through our services is synonymous with peace of mind and peace of mind. Our team of professionals will be in charge of all the details: property search, management with the seller, coordination with third parties..

In short, buying a house can be a long and tedious process, but doing it through Engel & Völkers is synonymous with worry-free success. If you are thinking of buying a house, don't hesitate any more and visit our catalogue. We will open the doors to the house of your dreams.