​How to save money buying a property in Costa Blanca, Spain?

Buying a home is probably the biggest economic investment of your life. Still, if you know the real estate world, there are ways to save money when buying a property in Spain as well as a commercial one.

How to spend less on the purchase of your home?

1. Look for properties owned by the bank

As you know most of property buyers are either individuals like you and me or developers and most of them need a mortgage to face that real estate investment. But sometimes things do not go as expected, either because of personal issues or due to a bad economic situation in the country. And when you can not afford these loan payments, the bank has the property or the entire construction of new homes as a guarantee therefore the bank becomes the new owner of the property. But it is not on their interest to own a building, for them is a highly risk asset to have. In the real estate field their business is the interests and charges of mortgage and loans. So they want to sell it quickly and mortgage again to the next buyer. This offers two great advantages:

• Lower selling price
• Property mortgage that can cover 100% of the total value of the property

Where can I find bank properties?

http://www.solvia.es/

http://www.cxinmobiliaria.com/

https://www.bankiahabitat.es/

http://www.servihabitat.com/

http://www.bbvavivienda.com

2. Pass an offer lower than the price for sale

Once you have found something that really interests you, do not be afraid to pass an offer lower than what the seller asks for. Negotiation is necessary, even if you start with something very low that you know you will not be accepted,this start will guarantee you a lower final selling price.

3. Compare mortgages

Do not have loyalty to your bank, they are business. You have to make sure that you have contrasted the price of all the mortgages offered by the different banking entities. Compare them not just the ones in your home country. Also check all of the Spanish banks, because with the increase of foreign property buyers they are offering a very competitive interest rates.

4. Find owners who have the urge to sell

From divorcees, inheritance, people in need to sell ... Simply asked the reason why they are selling the house during the visit.

5. Find bargains: work with a real estate agency

Real estate bargains last very little in the market and real estate agents are the first to know about these. Although this point may seem ironic since a real estate company receives a commission for managing the sale of the property, in addition to having access to property offers and good sales, they are excellent negotiators, they know the owner and often reach selling prices that without them you would've never negotiated.

We are Naranja Spain, real estate agents based in south of Costa Blanca, Spain. We have good property and commercial offers, which, as expected, last a short time. But we always find the desired home at the ideal price. If you are looking for a house in Guardamar del Segura, La Mata, Torrevieja, Ciudad Quesada, Rojales or Orihuela Costa. We have a good catalog. We hope to help you in your new investment.