If you ever feel like owning property is a good thing, think twice! It’s not only about money, but it’s also time-consuming and you need to put a lot of effort into owning such a thing. There are many things you need to think about before buying such a high-class property. We know that it’s all a dream and maybe you never bought or owned a property before. That¨s absolutely all right! You would have to be a genius if you knew everything beforehand. Not even the wisest can see all ends, that’s what Gandalf told us in the Lord of the Rings.
If you want to také care of your property right, make plans, measure everything twice and cut once, and be sure of what you are doing.
1. The legal part of the ownership – all settled
You want all your contracts signed, all your registrations at the municipality done, everything must be top-notch. There cannot be anything that would stand out. Solve everything now and don’t worry about it later. Be sure to get everything and archive everything somewhere near you, maybe even do electronic copies of the documents – you never know when you might need them.
Make sure you know which taxes you should pay and how much. Ask at the local municipality or public office, check with your home country, maybe contact someone who has experience with owning property abroad if you have one like that, maybe in Marbella Spain or another great location.
3. Reconstruction, repair, and making it better
4. You need your property to be the best one out there if you want to rent it out for the highest possible rent. You might even sell it afterward – it does not matter. You need to put money into something first,
make it more valuable, greater and then sell it. You will always find a good buyer, the only thing is – how much do you want to make money? Renting is maybe even better because you can repair it for cheap and rent it out for a lot. You would be surprised, but in attractive locations like Marbella Spain, you only need it to look good and have everything working. Then you can make money that will support you all your life.