For most people in Barcelona, purchasing a second home is completely normal. In fact, more than 14% of Spanish homeowners own a vacation property in Barcelona.
Is Buying a Vacation Home in Barcelona a Great Idea?
When thinking of buying a vacation home in Barcelona, among the first questions, which you may ask is – am I making the right decision? The answer is a simple yes. Why? Real estate market in Barcelona has been resilient for the past few years. In addition, the value of properties are increasing every year.
The Best Districts in Barcelona to Buy a Vacation Home
Every district in Barcelona has a personality and might be a great way to generate money, either as renting it to tourists for a short period or a long-term property investment that you can sell eventually. Some of the districts where you can buy holiday home in Barcelona includes the following:
- Horta-Guinardo
- Nou Barris
- Gracia
- Ciutat Vella
- Sant Marti
- Eixample
Tips for Buying a Vacation Property
Most people dream of owning a second house in another city, state, or country. Whether you need it for family holidays, rental/investment property, or a relocation, you will have to consider the following tips to help you make the right decision:
1. Find a Perfect Property
Start with the search for properties. You can use online platforms, with properties from real estate agents in Barcelona. Examples of platforms you can use are Habitaclia.com and Idealista.com. With these two, you may filter your search based on location, size, price, and number of bedrooms. List down several properties you are interested in, and then book an appointment with real estate agents. Remember to build a good relationship with them so they can tell you when something is off-book or about to come to the market.
2. Understand the Spanish Market
The Spanish market is often dynamic and diverse, providing many options to choose from. A good realtor can give you an overview of the property market trends, including, inventory levels, demand, and prices of properties. The expert can also help you explore popular regions, while highlighting important factors that may affect the market, like:
- Lifestyle preferences
- Amenities
- Location
3. Set a Budget
You might have several reasons for buying a holiday home in Barcelona. Whichever reasons you have, make sure you set a budget based on the investment. When creating a budget, consider how you plan to finance the investment. And if you are planning to get a loan, decide which kind of mortgages will suit your needs.
4. Calculate the Expenses
Before you make a buying decision, you have to calculate all the expenses involved. You won’t just incur the costs of buying. You can as well incur other expenses. These costs are linked with utilities, maintenance, repairs, property taxes, home insurance, and amenities, like a pool, home security systems, and AC.
In conclusion, buying a dream holiday vacation is one of the most fulfilling and rewarding experiences. By having a budget, calculating the expenses to incur, understanding the Spanish market, and finding a suitable property, you will be in your way to buy and own a vacation home in Barcelona.
