Time and again you hear stories of usually logical and rational people buying up “cheap” property abroad without any consideration. They skip important steps like doing surveys on the property, or they are insensitive to the neighbours and upset everyone with their renovations. They don’t even check to see if they are within the property boundaries and then they suddenly are “surprised” to find they havetitle deed problems.

Avoid becoming scammed (or stressing yourself out with stupid mistakes) by doing proper planning and research.

The most obvious thing is to stay in budget. Always watch the level of debt you’re exposing yourself to and how you will manage the monthly payments if ever interest rates increase, or if the income you had expected to earn from rent doesn’t come through as you had hoped. Also look at whether or not you will be able to sell at a profit if the market is deflated.

This homework is dull and tedious but it will save you a lot of grief in the future.
This sounds like common sense but you should be as careful about buying a property abroad as you would if you were buying a property back home.

And finally, do not be discouraged! The lessons we can learn from the stories of people having trouble paying off their properties or learning in the middle of the process that there are more details or paperwork than they had expected doesn’t mean that the dream of having a home in Spain is beyond reach. Rather it just teaches us a lesson, that good things come to those who work for it, with their feet on the ground and their heads set on the goal, and with plenty of common sense keeping them from rushing forward at the first offer.

To give you an idea of how the dream can come true, just look at the historical increases of property prices. In the last few decades you can really see how the houses in Spain have brought not just joy to the homeowners, but lots of income. Take a look at the property prices in Malaga and Montpellier. These regions have seen a value increase of 144% over the last four years. There are many new markets that look like they can offer the same to the investors and you just have to look out for those and do your research. These are the benefits of taking the time to find the right property market.