People from all over the world decide to move to or buy a second property in Marbella, Spain, with over 140,000 foreigners living there. What better way to spend your day than soaking in the sun while you sip on sangria and dine on delicious cuisine? If you’ve decided to look for property for sale in Marbella, there are a few things you should keep in mind before you make the move.
To help you with your decision-making process, we’ve put together a guide with our tips and tricks. Read on for more information about looking for property for sale in the Marbella area.
Narrow Down Your Options
When you get started on your dream house hunt, it’s best to put your ideas and thoughts down in writing. Purchasing a property in Marbella may be a culmination of a lifelong dream for you, so you want to be careful and wise in your purchase.
Marbella is a popular tourist destination in Spain but many people live there to experience the Mediterranean lifestyle as well. There are a variety of neighbourhoods for you to choose from.
Casco Antiguo, or Old Town, is one of the least-known and most gorgeous neighbourhoods. It’s broken up by pedestrian-only streets that are lined with flowers and potted plants. You’ll feel as if you’ve been transported to a magical grotto as you stroll through Old Town.
The central square has plenty of shops, boutiques, bars, and restaurants for you to choose from. It’s also filled with fragrant orange trees that’ll make your time in the area relaxing.
Barrio Alto is the upper section of Old Town. This area has cobbled streets and whitewashed houses that are fairly quiet to visit. There are historic houses for you to explore, as well as bars and restaurants.
This is a popular residential neighbourhood that houses high-rise apartment buildings. It also has a vibrant street life of food stalls and tapas bars where you’ll find the locals gathering each morning. The diamond-shaped plaza includes a market and parish church.
The Modern Centre
This area may seem not very interesting and busy when you first look at it, but there are hidden delights to be found everywhere. You can find gift shops, delicatessens, a Peruvian eatery, and a lush park to explore. The Bar Guerola is a popular meeting spot for locals and tourists alike.
Barrio de Pescadores is a neighbourhood filled with rustic seafood restaurants and fishermen’s houses. The beaches are a little less crowded than the ones located in the city centre. They also overlook the local fishing boats that are faded from being in the sun for decades.
No matter what neighbourhood you choose to look for a new property for sale in Marbella, you’re guaranteed to find an area that fits your lifestyle. To help figure out what section of Marbella to focus on, consider the following things:
- Which Neighbourhood Suits My Needs?: You can look for an area that’s peaceful and quiet or focus on the bustle of the city centre for a more lively location
- Is Accessibility Important to You?: Consider where you work and how easy it is to get to public transportation and the airport
- What Amenities Do You Need?: Do you need restaurants and shops right outside your door or are you okay with hopping in the car to access them?
- Do You Have Children?: If you’ll be living full time in your residence with children, you’ll want to look in areas that are close to schools
- What Type of Property Are You Looking For?: Think about if you want a larger home, quaint cottage, or luxury apartment
These are just some of the questions you should ask yourself when beginning your search for property in Marbella.
Determine Your Budget
Once you’ve narrowed down where you want to look for luxury property for sale in Marbella, the next step is determining how much you can afford. Figuring this out beforehand will help give you a realistic idea of what your budget is. You’ll also know to only look at properties that fit within that guideline.
Once you’ve determined your budget, set your minimum and maximum price range. Don’t forget to factor in buying and closing costs. This can add 8-12% to the final price. Keep in mind that you may need to pay additional fees to lawyers or notaries.
If your funds aren’t in euros, plan ahead so you know what the exchange rate is. Look into what the council taxes and home insurance costs are for homes in Marbella. You want to do all you can to avoid any unpleasant surprises.
Connect With Reliable People for Honest Advice
When you purchase property in Marbella, your real estate agent and lawyer are the two most important people. You want to partner with individuals and companies that have a good reputation.
Above all else, your realtor should listen to your needs. Once you find a trustworthy real estate agent, they can typically recommend a lawyer to you as well. You’ll want to find one that speaks your language as well.
A lawyer is an important component in buying a home at every stage. You’ll need to make contact with one before you sign any paperwork or put down a deposit. There isn’t as much real estate regulation in Spain as there is in other parts of the company, so you want someone who will double-check everything.
Additionally, a lawyer can help with the following things:
- Ensuring the property doesn’t have any encumbrances or debts
- Ask for a review of licenses, permits, taxes, and certificates
- Carry out legal checks
Once you’ve got a team of the right people on your side, you’re ready to get started looking at Marbella apartments for sale.
Prepare for the Paperwork
There is a lot of paperwork involved when purchasing a home in Spain. You’ll need the following:
- NIE: Spanish tax authorities use this fiscal number to identify you
- Visa or Residence Permit: If you’re not an EU citizen, you’ll need a Golden Visa Spain to purchase a property to receive permanent residency
You’ll need time to get all of the paperwork together, so ensure you allow time for that. Be patient during the process and hire a professional to help handle it for you.
Plan Ahead for Taxes
If you decide to permanently move to Marbella, you’ll likely have to become a tax resident. When you do that, you’ll have to pay income and wealth taxes, in addition to capital gains on all your worldwide assets. Plan ahead for tax time to anticipate what you’ll have to pay.
Your real estate agent and a lawyer can help you with these services. If they don’t offer these types of add-on services, they can point you in the right direction of someone who can. Professional advice when you’re looking at luxury villas for sale is key to ensuring you don’t face a steep tax bill.
Start Looking at Properties
Once you’ve sorted through all the paperwork and boring legal stuff, it’s time to start looking at properties. Your initial inclination may be going with a property that “feels right.” However, in addition to narrowing down the neighbourhood you’re looking at, you’ll also want to make a wish list of everything you want in a property.
You can look on your real estate agent’s website to see what properties they offer in the area. You can also contact them and have them help you look for places to explore. Once you’ve come up with a list of villas and apartments, your agent will schedule viewings.
If a place doesn’t meet all your expectations, don’t immediately remove it from your list. Whatever place you choose should spark your creativity and imagination. You can compromise on some things but you need to go with a place that’s structurally sound as well.
Once you’ve found a place you love, have your lawyer evaluate the property before you make any type of commitment. You may think that’ll slow down the process, but it’ll actually save you from problems in the future.
Once you’ve started the process of purchasing a process, make sure you continually follow up with your real estate agent and lawyer. You want to ensure they have everything they need so the process doesn’t get delayed.
If you have any questions on furnishing the home or even renting it out short term, your agent can provide you with recommendations. Finding a reliable agent that offers high-quality properties is key.
Find a Realtor to Help You Find Property for Sale in Marbella
Whether you’re moving from another area in Spain or from a different country, partnering with a realtor to aid you in the process of finding property for sale in Marbella is key. You want to ensure you’re prepared for the process and have someone on your side to advocate for you.
Contact Choose Marbella today to get started on looking for your dream home.