Reply To: Considering first Spanish property, advice please.

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Anonymous
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60k won’t buy you anything close to the coast but there will be a fair amount of inland properties at that bracket. Trouble with these is that you’ll not find them easy to rent, also in winter inland Spain can get very cold. Whatever else you do you must be able to finance any purchase and its running costs by yourselves.

Some advice I have picked up after over a year of looking:

– Take your time. Prices have been falling for over two years and look set to do so for at least another one, probably longer. Whatever anyone tells you the market has not bottomed yet. Not even close.
– Good websites are http://www.segundamano.es (Spanish only) and http://www.kyero.com. Don’t trust these alone however. Take time to come over here and see for yourself.
– In most cases asking prices are still way too high. Bargain very hard and be prepared to walk away.
– If and when the time comes to but use an independent solicitor. There are many pitfalls, most of which can be avoided by your own diligence.
– Do take the effort to thoroughly research the market.