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WHAT TO BUY?
You have five basic types
of property in Spain.
Apartments: are usually in a purpose-built block, most commonly with two
bedrooms and two bathrooms, perhaps with some communal gardens
and facilities such as a swimming pool. Owners pay a community
charge to cover maintenance fees for the block.
A Townhouse: (also known in Costa Blanca as a Bungalow) is usually a two
or three-storey building which is part of a terrace, possibly
with a small garden or outside space. They may be new-build
townhouses, often painted a uniform white on a plot of land
outside of a town. Or it might be an existing house in the centre
of a town or village.
A Villa: is a detached or semi-detached house, found both on the coast
and inland, with a private garden and perhaps a swimming pool.
It may also belong to a development which shares a pool and
other facilities.
A Finca Rústicas: a traditional rural house, possibly a former farmhouse, and
often in need of renovation or conversion. It usually has some
land or at least a garden. It may be harder to arrange for certain
facilities such as a telephone line or mains gas in a rural
finca.
Off Plan/New Development: These are developments which have yet to be built or are in
the process of being built, and in which buyers invest on the
basis of seeing the plot of land and the architect's plans.
The price and all specifications are set before building commences.
This takes 12-18 months on average.
Coast versus country?
The area in which you want
to live will to some extent determine the type of property you
buy. If you want or need to live in a city, you will probably
only have apartments at your disposal - unless you live in a
modern urbanization in the suburbs. If you fancy living in a
small village, your money will probably stretch to a townhouse,
villa or finca and you are unlikely to find apartments anyway.
Coastal properties often come on modern estates or urbanizations,
particularly if you are investing in an off-plan development.
If you do not intend to live
in the property full-time, an apartment that you can lock up
and leave - particularly on a managed estate which guarantees
security and maintenance of the common areas - is an option.
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