Buying a property overseas can be a daunting prospect. Not only is the process challenging, but the financial implications are considerable. Buying a home in Spain is no exception. You’ll need to take out a mortgage and be prepared to deal with taxes, utilities, and other bills on an ongoing basis. Fortunately, Spain has plenty of expert advisors who can help.

Buying a property in Spain requires a bit of research, as well as a hefty budget. For example, a house survey is a must. However, if you’re not familiar with Spanish property law, you may not be able to take advantage of the benefits.

A good independent lawyer is a must. A lawyer specializing in Spanish land law can handle every step of the purchase process, including drafting a Contrato de Reserva, which is a reserve contract. This is a legal document that takes a property off the market for the necessary due diligence.

While you’re at it, be sure to check out the Catastro register. This database is managed by the Tax Agency and contains information related to property and rates. It’s worth researching the properties in your area, as this will likely have an effect on the prices of your prospective homes.

If you’re buying a new build, the standard is quite high. However, a poorly built property could cost you money in repairs in the long run. So, be sure to ask questions and read up on construction standards before committing to a property.

The most important part of any property purchase is finding a suitable property. There are many options to choose from, with some regions offering higher costs than others. But, with the right research, you can find a great property. Whether you’re looking for a starter home or a family retreat, Spain has it all. In addition to the aforementioned, you’ll want to consider the location, the construction quality, and the surrounding communities.

A smart move would be to choose an estate agent with a local office. Agents who don’t have a physical presence in your chosen area will be less likely to get the deal done in time. Also, be sure to hire a lawyer with Spanish language skills. Even if you plan to live in the country for years to come, you may want to have someone who speaks your language available on hand in case something goes wrong.

Finally, don’t forget the ol’ fashioned tip. While you are at it, get a reputable mortgage lender to provide you with a loan that’s appropriate for your needs. Most Spanish banks will allow foreigners to borrow up to 70 percent of the purchase price, but you should be prepared to pay a bigger deposit.

While you’re at it, you should also hire an independent buying agent to give you the best insight into the local market. These agents will charge a fee, but they can be a big help. They’re also a great resource for recommendations.