Top 10 Reasons To Rent Before You Buy In Spain

Published on 22/09/2008 in Relocating to Spain

Rent or buy1. Location, location, location

Moving from abroad and coming to live in Spain, how can you really know if an area is right for you and your family without having tried it out first?  Even different communities in the same area will give you a different perspective of life in Spain.  Try before you buy, get to know the area first and decide where you really want to live.

2. Telecommunications

Don’t take it for granted that you’ll be able to get hooked up to a phone line as soon as you arrive.  If you plan to run your business from home and can’t get a phone line, if you’re renting at least you can easily move to another location where phone lines are more readily available. 

3. Schools

If you’re planning to move to Spain with kids, deciding which schools to send your kids to will be one of your biggest location influencing factors that you need to make.  At least if you’re renting in the area and you find the schools are not right for your kids, at least you can easily move somewhere else to accommodate their needs.

4. More time to research

If you jump in head first and buy a property in an area you like, at first you may not see the problems in the area which would have affected your decision had you had more time to think about it.  Maybe the streets aren’t cleaned often enough.  Maybe a new building site is coming up next to where you hoped to buy.  Maybe the local transport system isn’t up to scratch.  You need time to assess all this. 

5. Save money

Buying a property in Spain can be quite expensive.  If you are setting up a business in Spain, for example, you may wish to make sure you have plenty on money in the bank to keep you going for a while whilst your business is starting out.  Maybe you would just rather have your money available instead of having it all tied up in a property, especially as you would be living in a foreign country with many unknowns.

6. Make a quick exit

Even though thousands of people move to Spain every month, many find it’s just not for them.  Maybe they can’t settle, maybe they can’t earn a living, maybe they just miss their friends and family too much.  Whatever the reason, if you’re renting and you want to return home then you don’t have the hassle of trying to sell your property first.  It typically takes people at least a couple of years to decide if living abroad is for them.  Give it time.

7. It might not be the best time to buy

It’s no secret that the property market in Spain has slowed, in line with most of the rest of the world.  If you’re not in a rush to buy at least you can sit back and watch what happens and then jump in when you feel ready.

8. Getting a mortgage

Getting a mortgage in Spain has become more complicated, especially for those needing to borrow as much of the purchase price as possible.  If you rent then you don’t need to worry about whether or not you’ll be able to get a mortgage.  Remember also that if you move to Spain and have no income, the banks will be very cautious about lending you any money.

9. It’s someone else’s problem

“Oh look dear, the bathroom ceiling has collapsed!”
“Don’t worry dear, I’ll call the landlord.”

10. Sit back and enjoy it

Renting is a far easier option than buying for most people.  It’s less stressful, it can save you money and you can budget your outgoings much easier.  If you’re moving to Spain then find a long term rental in an area you like and enjoy it!  Don’t worry if you don’t have all your own furniture around you….there’s plenty of time for that in the future.

Written by: Jeremy Jones

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Comments:

Normal said:
23 September 2008 @ 14:11

A very interesting article particularly as my husband and I are hoping to move to Spain in March next year and will be looking for a long term rental property. We are going to spend the month of January in Spain in various areas and would be interested in the names of any agents that deal in long term rental properties.

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