Spain, as a country so simple and yet difficult to describe. One such small, oh-so-beautiful and one-eyed country in Spain is undoubtedly one of the best countries in the world thanks to its superb cuisine, people, art, culture, and architecture. . Everyone who goes to Spain has something beautiful and important to do near Spain.
Cost of living in Spain
The cost of living in Spain is one of the lowest in Western Europe, even in cities. Excludes rent or mortgage payments – and depends on your lifestyle.
Due to the warm climate, many basic foods are cheap here – Spain produces a wide variety of fruits and vegetables for domestic consumption and export. In season – and Spain has a long season – the production of many commodities is € 1 kg.
Also, many fruits and vegetables that are relatively tasty in North America – baby artichokes, cherimoya, and donut peaches, for example – are locally grown in Spain.
Typically, meat and fish are good value – local lamb can run about $ 10 a pound, and fish and shellfish in coastal areas are $ 2 to $ 7 a pound, depending on the variety. Mediterranean features such as olive oil and wine are abundant and inexpensive – $ 4 a liter for olive oil and $ 3.75 a bottle for local wine.
Buying a car in Spain is optional, saving you the expense of buying and maintaining it. Spanish cities and villages are designed for walking, most shopping centers are easily accessible on foot. For long distances (or large shopping trips), public transport is readily available.
Excellent bus and train service get you around the city or country quickly. In many cities, you can buy monthly transport passes or 10-ride tickets for buses and metros. And from the age of 60, you start qualifying for retirement fares, which significantly cuts down the cost of long-distance travel.
Housing, traditionally the biggest item in any budget, is not to break the bank in Spain. In many small to medium-sized cities, you can find comfortable one-bedroom apartments in the range of € 400 (about $ 492) a month. And in some places, it is still possible to find apartments such as these for sale under $ 100,000.
10 Risks You Should Keep In Mind When Investing in Real Estate In Spain
- Getting the wrong place is so important that you plan your property purchase carefully. It is easy to fall in love with a property and forget about those little details such as where you will buy your food or do you want to live in this community. Spend time looking for the best location, the best estate agents and lawyers and get advice – buying a house is a big decision.
- Not having enough money, remember that it is not just the cost of the house for which you need to move out. There are many additional costs such as legal fees, property taxes, Spanish notaries, and Spanish Land Registry fees. We recommend that you allow more than 13-15% of the cost of the purchase.
- To get your solicitor wrong you choose a solicitor whom you can communicate with when needed. It is important that you find a lawyer who represents your interests and can answer your questions in the language you understand. Make sure they are suggested and experience is proven in explaining them.
- Our hasty disadvantage to buying a property in Spain is that if you have gone out on an inspection trip or you have a finite time to find a property, you may run into a decision. In today’s market, it is unlikely that the property you have seen will fade at the last minute.
- Signing a contract that you do not understand or worse, that has not been checked on your behalf. Private contracts and deposit payments are fairly common in Spain; Do not sign anything until someone representing you has checked it for you.
- Think about the process of buying a property in your country, thinking that you can do it differently. You will be motivated to do many investigations, surveys, and inspections. You need to do the same in Spain. A good lawyer will ensure that the legal status of your property is checked.
- By not having your paperwork, you are buying a property in another country and can sometimes come as a disadvantage for buying a property in Spain. You need to make sure that you have everything or you will not be able to buy it. One of the required documents is the NIE. Without it, you cannot buy your property. However, through the Power of Attorney, it is possible to arrange to receive you even if you are not in Spain.
- Accepting some finer points after purchasing your property, yet some legalities have to be met, such as transferring names in utility contracts
- Thinking that you have fulfilled all your responsibilities, make sure that you have procedures in place to pay property and income taxes, such as Spanish Council Tax, and you always leave enough money in your bank account. Also, remember that in some circumstances there may be a supplementary tax to pay.
- Do not buy because it is too risky. We thought we threw it as a final warning. If you read back through our loss of buying a property in Spain, you should recognize that there is nothing here about the purchase of the property.
Therefore, it is the worst that we can throw at you. You may have heard of some real mistakes that have been made by property buyers in Spain.
The most famous things in Spain
Keep in mind that Spaniards, like many Europeans, are used to smaller living spaces than North America. This is not uncommon for a couple living in a 1,000-square-foot apartment only in Spain, or in a 550-square-foot two-bedroom apartment only.
Large apartments are always available if you want them … but with Spain’s warm climate and outdoor lifestyle, you can spend most of your time outside yourself … sitting in cafes with friends, enjoying the beach, Or exploring the spacious interior.
- Have lunch in hot countries
- Mediterranean Beaches
- Wine and drink
- La Sagrada Familia
- Spanish football
- La Tomatina
- Corrida de Toros (Bullfiguring)