You can choose between your money earning next to nothing in the bank or it growing in value somewhere else. It’s a no-brainer. Investing in property offers a myriad advantages, beyond its appreciation potential and ability to generate income through rental, selecting a property in a beautiful part of the world allows a buyer to expand their experience of the world and improve their lifestyle.
Perhaps the prospect of a holiday home on a sunny Spanish coast has been gnawing at you for a while now but acquiring another property needs to make sense for your family, your lifestyle and your pocket. Taking these areas of concern into account, here’s a few tips worth taking on the road to making that dream second home a reality.
-
Investigate fully
New data is constantly being made available to help make your decision an informed one, so keeping on top of current trends in the property investment market is vital. For instance, buying an apartment was once seen as an inferior choice to purchasing a house because the value was believed to be in the land, but in these urbanized days, well-located apartments can trump houses in terms of profitability. The demand for apartments in popular areas leads to consistent rental income without the same expenses involved in buying and maintaining a house. From a property investment point of view it is likely to be more profitable to own a small bit of an extremely valuable piece of land than a large part of a low-value patch of earth.
-
Get good loan advice
A loan for a holiday home or buy-to-let property investment is likely to require a different application process to that of an initial home loan. Partial interest-only repayments or the ability to generate good rental income should significantly impact not only your decision but also the bank’s approval.
-
Find a quality property manager
Bear in mind that you’re likely to receive consistent income in high-demand areas. Select a property group and tenant agency who manage portfolios that achieve consistently high occupancy levels. If you’re interested in property purely as an investment, be sure to appoint a trust-worthy property manager with a great track record such as Grupo Esmeralda. The best in the business will make sure your investment is a profitable one, even if you’re far away. On-the-ground experts save you from many a headache as they manage tenants, contract handyman to manage wear-and-tear while providing invaluable local insight into the area to make sure you get the best rates.
-
Test your property out on yourself
Your rubber arm probably won’t need twisting when it comes to this tip, because there are worse obligations than having to test out a home in a paradise like the sunny Costa Blanca. There’s no better way to research a place than by visiting and holidaying there yourself. Visit the region to scope out the desirability of various neighbourhoods and consider if it might be a place that you could live yourself. For years wise investors have been retiring to a second home or holiday house in a foreign country that they love. While there, speak to expats on the ground who have invested. Find out about Calpe apartments for sale. Explore the area and ask yourself:
-
Are the streets safe to walk in?
-
Are there activities and nature reserves for my children to explore?
-
What’s the weather like?
-
Where would I do my grocery shopping?
-
Are there restaurants I’d like to eat in?
-
Is it accessible?
-
Will this investment improve my lifestyle as I get older?
For professional advice on the property investment market, value and growth outlook in an area like Costa Blanca, it’s worth getting in touch with a local expert. Grupo Esmeralda manage the largest property portfolio in the region and offer a gorgeous array of Calpe apartments for sale.
