Apartment Hunting Checklist: Things You Need Look For

Renting an apartment is like getting a pre-owned car. It has been used by someone before you, and whether they have left it in a good condition, it is not always easy to tell.

If you are ready to rent your Budapest apartment, you have come to the right place. In this guide, we will tell you all the important things that you must check when renting an apartment.

Here you go with the details:

  1. Walls

Walls are the first thing you should check. Look for structural holes, cracks, or water leaks. If you notice any of these things, let your landlord know that they pre-exist. You must also check the paint job and whether it matches throughout the apartment.

  1. Lighting

Turn on all the lights and see if everything is working fine. If you find any burnt out lights or bulbs, ask your landlord to replace them. After all, you wouldn’t want to deal with defective things after paying a hefty advance for your apartment.

  1. Doors and windows

The next important thing are the doors and windows. Make sure that they shut and open properly. Check the hinges and locks for any damage. If there’s a problem, let your property manager know beforehand. You need to feel secure when you move into your new apartment.

  1. Bathroom

You simply can’t forget checking the bathroom when renting an apartment. It’s always a good idea to get an apartment with more than one bathroom, especially if you are going stay with your family. Besides that you should make sure that the toilet and flush are working. You should also inspect the taps, sink, and shower. If there’s an issue, inform it to your property manager.

  1. Location

Last but not the least, you must consider the location of your apartment. Choose a place that is near your workplace or market. It should also be well connected to public transport.


Finding an apartment on rent is a hectic thing. There are so many things you need to check. Since you are paying you will want the best for yourself.

You Should Invest in Multi-Family Property Compared to Single Unit

For those people who are unable to take the volatility of the stock market, for them one of the best alternatives is real estate. It is also one form of the best investment for the people who want to invest and take an active role in increasing their capital, rather than inactively putting their capital into funds that are handled by someone else. One of the best parts that you will know about real estate investing is that you can get more than one strategy that can be used successfully. Many real estate investors are there who have made millions of dollars through purchasing properties, and house flipping that are in conditions that they renovated and later sold to a new client. 

Possessing rental real estate can be a wise way to diversify your investment portfolio and create consistent income. In a multi-family property, you can multiply your income with some added cost. Besides that, in multi-family rentals you can easily finance, get returns more quickly and get merits from the economies of the scale. It is also important to know about the IRS tax code before you make a move to complete the 1031 exchange San Diego that is needed for the success of the future. 

Multi-Family Properties Investment – 

If you are an investor and are in need of an additional source of income for a month which should be slow and there should be consistent appreciation in the value of your portfolio, then rental property investing is the chosen form of investment strategy. When it comes to residential real estate – there are 2 main types of properties that you can invest in – multi-family and single-family. 

Single-family properties are home buildings with only a single unit available for rent. Whereas, multi-family properties are known as apartment complexes, where there is more than one space for rent. Many benefits are there if one invests in huge residential complexes. Some of the reasons for considering investing in multi-family real estate as compared to single unit-rental properties are as follows – 

Costly, But Easy to Finance – 

In many cases, the cost to obtain an apartment complex will be pivotally higher than the cost to buy a single-family home as an investment. For a one unit-rental an investor will have to pay as little as $30,000. Whereas, the cost of a multi-family complex can go up to millions. At first, if you look it might look easy to lock a loan for a single-family property compared to raising money for a million $$$ complex. But the fact is that a multi-family property will be approved by the bank for a loan compared to an average home. 

One of the reasons for the same is that strong cash flow is generated consistently through multi-family real estate. And, the same applies in the case where there are some vacancies or some tenants who are late in the payment of the rent. For instance, if a tenant moves out of a single-family house, the property would be called 100% vacant. Whereas, the unit property with only a single vacancy would be 10% vacant. So, the foreclosure of an apartment building is not that high as compared to the single-family rental. And, all of this is connected with a less risky investment for the lending institution and can lead to a more competitive rate of interest for the owner of the property. 

Conclusion – 

Other reasons for investing in multi-family real estate are that growing a portfolio takes less time and property management makes fiscal sense because you are in such a position to manage it. 

How to Buy a New Build Home in the UK: Everything You Need to Know

If you’re in the market for a new home, you may be considering buying a brand-new build. This can be a great option, especially if you want to get exactly what you want in your home. In this blog post, we will discuss everything you need to know about buying new build homes in the UK. We’ll cover topics such as how to find new build homes for sale, the process of buying one, and what to look for when inspecting a property. So, whether you’re just starting your search or are ready to make an offer on a new build home, read on for helpful advice!

Where should I look for a new home?

There are a few different ways to find new build homes for sale. You can start by searching online, which is a great way to get an overview of what’s available in your area. You can also contact a local estate agent or developer and ask about new developments in the area. Finally, you can drive around and look for signs advertising new homes for sale.

The process of buying a new build home can vary depending on the developer and the location of the property. However, there are some general steps that you can expect: 

-View properties: Most developers will allow potential buyers to view the properties before making an offer. This is a great opportunity to get a feel for the property and see if it’s right for you.

-Submit an offer: Once you’ve found a property that you’re interested in, you’ll need to submit an offer. The developer will usually ask for a deposit at this point.

-Wait for approval: Your offer will be subject to approval by the developer, who may have specific requirements for buyers. For example, they may require a minimum deposit or that you have a certain amount of money saved up.

-Sign contracts and pay final balance: Once your offer has been accepted, you’ll need to sign contracts and pay the final balance. This usually happens before the property is built, so you may need to wait a while before moving in.

How much do new homes cost?

The cost of a new build home can vary depending on the location and the developer. However, you can expect to pay more than for an existing property. In some cases, you may also be required to pay stamp duty (a tax paid when buying a property) and/or legal fees.

If you’re a first-time buyer, you may be able to get help from the government through schemes such as Help to Buy. This can make it easier to buy a new build home, as you may only need a small deposit. There are also some developers that offer special deals for first-time buyers, so it’s worth asking about this when you’re viewing properties.

To conclude, there are a few things to consider when buying a new build home. Make sure you research the developer and the location of the property and be prepared to go through a formal application process. It’s also important to remember that new homes can be expensive, so make sure you have enough money saved up for the deposit and other costs.

The Best Realtor Is Your Key To the Best House

Buying, selling or renting a property is a very important activity, as it involves expectations, many ballots, a dream and personal fulfillment. Below are some tips that should help you when finding a suitable realtor to assist you in this process. The JLM Real Estate can be one smart choice in this case.

Registration at Regional Council of Realtors

Every realtor must be registered with the Regional Council of Realtors, the body responsible for regulating and disciplining the activity. This is the first step to assess whether the professional exercises his or her profession in accordance with the legal regulations and guarantees the quality of the services provided.

Have Market Experience

As in any field of activity, in brokerage experience endorses a series of details. This expertise ensures some important advantages, ranging from negotiation techniques to a clinical perspective to evaluate the property.

Opt For a Realistic Broker

Often, whoever acquires a good is fulfilling a dream. However, not everything is as desired, and being aware of the problems is also fundamental. A sensible professional is able to identify the client’s needs, price all desires and offer options that can meet the aspirations.

Integrated With New Technologies

Technological brokerage is not just about photos and messaging applications. There are several other tools that facilitate processes, such as management software that offer benefits for organization, agility, statistics, among other relevant functions. A good example is the websites that integrate offers to real estate portals, helping with financial management, advising on contracts, among others. The more resources a professional has, the better you will be served.

Have Knowledge of the Region

Knowledge of the location ensures that the realtor is able to associate a house with all the possibilities that the neighborhood offers, in addition to listing issues such as safety, noise, microclimate, among others. Another advantage concerns the comparison of properties and values ​​in the same region, always offering the best options.

Choose a Friendly Real Estate Agent

Every negotiation starts with a good conversation. This characteristic ensures that the professional has a good argumentation, persuasion and that he listens to the needs listed.

Watch Out For References

When looking for a qualified professional, an indication is always important. Therefore, activate your contacts and ask the former client what are the positive and negative points of the broker. Another tip is to consult the professional’s profile on social networks and observe the comments and evaluations about their work.

Choose a Professional Compatible with You

People define a good professional not only according to the services provided, but also according to the profile. The lack or excess of agility, objectivity, argumentation, among other aspects, can harm the relationship with the consultant.

Comprehensive Brokerage Advice

The activities of realtors go far beyond selling. Demand a complete consultancy, with feedback, legal support, offer of financial products, among other issues when acquiring an asset.

Including After-Sales Service

A good real estate agent also assists their clients after purchasing the apartment or house, helping with questions about where to hire certain services after moving, providing support when transferring consumer bills and other needs that may arise.

Buying Property in Buying in England vs Scotland

Both Scotland and England can be part of the UK. But when it comes to buying real estate, there are some key differences between the two nations.

If you live in England but are buying a house north of the border and are looking houses for sake Kirkliston or vice versa we will outline differences here so you know precisely what to be expecting.

Make an offer

In England, the property is marketed at an offer price, but this is negotiable and buyers can bid on a property depending on what they are willing or able to pay

In Scotland, buyers will ‘remember “. Your ‘interest’ in the properties, means that offers for the property and any closing dates for future offers will be tied to it.

Property in Scotland is marketed at a fixed or asking price. The price they are willing to pay is over and above the asking price and their deadline to complete the purchase.

After all bids are received in a sealed envelope, the seller decides based on the offers and deadlines of the prospects.

Property in Scotland that is marketed at a fixed price, usually when the seller wants a quick sale, will normally be sold to the buyer who offers that fixed price first. Has been accepted, both for your safety and to know if major work is required

The only documentation as to the condition of the property required by law for the sale of property in England is an Energy Performance Certificate (EPC).

In Scotland, however, the seller is required to submit a home report before they can put their property on the market unless the property is a newly built house.

The home report is a survey of the condition of the property, but it also includes information about his energy efficiency.

When a sale becomes legally binding

Buyers in England will already be aware of the importance of exchanging contracts with their sellers.

Until the solicitors of both parties are aware of this exchange, both the buyer and the Seller withdraw from the transaction.

The exchange of a property purchase in England can take as little as six weeks, although at the other end of the scale some transactions may take months to reach that transaction Stage.

In Scotland, there is no single contract that binds both the seller and the buyer to the transaction.

Instead, attorneys for both parties will exchange a series of officially signed letters regarding the sale, known as “Letters.” Letters are complete, the sale is legally binding, and that can come about in a week or two week.

Closing of the sale

Real estate transactions in England are usually closed a few days or one to two weeks after the contract is signed.

On closing day, the solicitor acting on behalf of the buyer will transfer all monies to the appropriate parties and once this is complete the buyer will receive the keys to the property from the seller’s real estate agent.

In Scotland, the closing is referred to as the ‘Date of Entry’ although the process is very similar to that of an English sale.

Here is why Wrought Iron Gates is becoming Popular in Properties

It is common for residential or commercial property owners to fence their property and have a gate for the entrance. Although there are different kinds of raw materials to consider when installing a gate, wrought iron is the best material to consider. We will help you understand why you need to consider the material for your next project. Read n to get more insights on the topic.

6 Reasons to have Wrought Iron Gates

1.   Security

The main reason for fencing a property is security. You need suitablematerial to helpenhance the safety of individuals or assets in the area. Wrought iron gates are the best to deter people from intruding. The material integrates well with other security features like automation of the gate system. It makes the gate more convenient and secure at the same time.

2.   Durability

The alternatives to wrought iron are not durable. Wrought iron can withstand harsh weather conditions. They will not degrade when they get in contact with the elements. In addition, the material is resistant to human damage, making it a versatile material to use in any property.

3.   Improves Property Valuation

A property’s valuation increases when you use the material for fencing. The aesthetic valueof wrought iron is what makes the propertyincrease in value. There isno other material that can rival wrought iron in its appeal and functionality. 

4.   They are Easy to Install

Wrought iron gates are becoming morepopular because they are easy to install. The developers of the gates will usually have ready-made items. They can offer the instructions to buyers for them to install on their own. It will not require much expertise to erect. Having pillars on either side, depending on the size of the gate, will give you the platform to install them.

The gates have a bracket that you screw to the pillars and then mount the gate horizontally.

5.   Require Minimal Maintenance

Purchasing the wrought iron gates will likely cost more than the aluminum or wood alternatives. However, they will last longer and require minimalmaintenance to maintaintheir functionality. You will only need to repaintit when the color fades. Nevertheless,generally, you should regularly scrub with a brush wire and rinse with clean water.

On the other hand, you do not need to replace the entire system when one part has a problem.

6.   Eco-friendly

The manufacturersof wrought iron gates donot negatively affect the environment to develop them. It is not like wooden gateswhere one has to cut down trees. On the contrary, wrought iron gates are reusable as a fabricator can transformthem intosomething else when you do not need them anymore.

Alternatively,youcan sell them as scrap and recuperate some of the money spenton them. The items are highly marketable, and you cannot miss someonewhowants them if you don’t.


If you are searching for the perfect gate or fencing material.Wrought iron is a valuable investment.

10 Features Buyers Really Want in a Home These Days

Even though the real estate market is going pretty crazy in most places across the US, buyers are still picky about what they’re looking for. If they’re going to move, they want it to be in the right place and with the right features. So what are homebuyers looking for these days? Here’s a list of 10 features buyers really want in a home.

#1. Laundry room

No more traipsing out to the garage, down into a scary basement, or to a closet tucked away far from the bedrooms. People want actual laundry room and one that is close to the bedrooms, which makes sense. They want a room where they can fold their clothes, hang close up, and cabinets and storage for towels, linens, and cleaning supplies. Laundry rooms have been a  popular feature in homes these days.

#2. Energy efficient appliances.

Buyers are pretty quick to notice appliances and HVAC systems that are not Energy Star rated. They don’t want to spend an arm and a leg on utility costs and updated windows, doors, and appliances are all a big feature that should be in every home if you plan on selling. They don’t want to incur the extra cost of buying new appliances as soon as they move in.

Related: 9 Ways to Make Your Home more Eco-Friendly

#3. Patio or outdoor entertainment space.

“With a lot of us working from home these days and outdoor entertainment space is crucial. We want to be able to get out, enjoy the fresh air, without it being a muddy backyard. A beautiful patio area, seating area, fire pit, barbecue or outdoor kitchen definitely appeals to the majority of buyers.” – Mike Mazzone, Park City Realtor®

#4. Kitchen pantry.

“People want a kitchen pantry that they can walk into. Whether it’s just a simple closet space in a kitchen or a larger room off of the kitchen, this pantry allows space for canned goods, nonperishable’s, and allows for a stockpile of certain items.” –Joe Sisneros, Cave Creek AZ Realtor®

#5. Hardwood floors in the main living area.

Hardwood floors or laminate hardwood floors are becoming extremely popular. Not only are they easier to clean, but they cut down on odor and smell throughout the house, especially if you have pets. However, if buyers don’t love the fact that the home has hardwood floors they can easily throw down a rug and swap it out when they get tired of it, much easier and less expensive than replacing carpet.

#6. Eat in kitchen.

The formal dining room is not necessarily gone by the wayside but and eat in kitchen is a good addition to it. Sure, you’ll enjoy Christmas and Thanksgiving dinners at the formal dining room but when it’s just the family or even just enjoying your morning cup of coffee, that eat in kitchen whether it’s an island or a breakfast nook is definitely on the list.

#7. Walk in closet.

“Walk-in closets really didn’t become popular until about the 1990s and since then, are an extremely popular thing for homes. A his and her closet or just a large master, walk-in closet is definitely a plus for homes. We are keeping more of our stuff lately and because a lot of us do work from home, we have extended our wardrobe quite dramatically.” Worthington Real Estate Agent, Drew Laughlin

#8. Extra garage space.

If you can barely fit two cars in or one without having to scoot to the other side to get out, buyers will notice that too. Extra workspace, a little extra breathing room around the cars, or just extra storage is valuable in a home. While this might not be something that sellers can alter, making good use out of the garage space they have is key.

#9. Kitchen island.

Did you know that 48% of home buyers are willing to pay more for a kitchen island? Kitchen islands might not be that expensive but they can add a lot of value to a home. A lot of split entry homes are doing away with the center pantry and replacing it with a kitchen island.

#10. Granite, quartz, or marble… Preferably quartz counters.

Separate tile counters, Formica, and Corian counters are really out and most homeowners are replacing them anyway. Buyers really like granite, marble, and especially quartz. It’s the easiest to take care of and really as a sense of luxury and heightened appeal to bathrooms and kitchens.

While not all of these are things that sellers can run right out and be on buyers lists. Most new homes are being built with quartz counters, kitchen islands, hardwood floors, and of course, energy efficient appliances and materials.

Best events in Monaco

Monaco property broker Fraser Richardson lists what he thinks are the best events in Monaco. Things to do are often at the top of client’s minds and Fraser thinks it important to have a list of exciting events at hand for when client’s are wondering what to do with one of the 300 days of sunshine each year. It really is the job of the Monaco real estate agent, not only to sell or rent property, but also to sell the lifestyle that goes with it.

Here are a list of the top events in Monaco according to Fraser Richardson, Monaco real estate broker:

  1. Formula 1 Grand Prix: It’s hard to say Monaco to a motorcar fan and it not conjure up great memories of the likes of Hamilton, Lauda and Coulthard pacing it around the narrow city streets of Monaco in the F1 Grand Prix. It truly is one of the most glamorous and globally known sporting events to take place every year. It is the jewel in the crown of the F1 calendar and the parties and festivities are the liveliest and most exclusive. Celebrities from all over the world descend to the Principality to gasp in the limelight and rub shoulders with the drivers in the paddock. The course is laid out with tight turns and tunnels making it a very difficult track to overtake on, this often leads to some high octane race drama and an inevitable crash or two.
  2. World Rally Championship Monaco: another motor sporting event synonymous with Monaco is the WRC Monaco stage, it takes place every year and the drivers race on the narrow streets of nearby towns and over winding mountain tracks, putting their cars to the test with the hope of bringing home the silverware. The WRC Monaco stage holds the title of being the most unpredictable course in the series with mountain conditions in winter causing all sorts of difficulties for the drivers.
  3. The Historic Grand Prix: Another racing event, this time featuring some of the most prized classic racing cars ever made. Just last year one driver crashed a Frazer Nash worth over €1,000,000… It’s definitely more painful to see that happen than a Formula 1 car as it’s most likely a one of a kind car that cannot be replaced. This event takes place every two years and normally is a couple of weeks before the big F1 weekend.
  4. Football: Monaco, although small in size, has one of the best football teams in the French Ligue 1. Top flight football in the Principality brings thousands of people from all over Europe and the local derby with neighbours OCG Nice is often one of the most eagerly anticipated games in the French Riviera sporting calendar. The team play at Stade Louis II, located in the Fontvieille district and has a capacity of 18,523. The Prince brought in Parisian architects to build the complex.
  5. Athletics: The World Diamond League series pays a visit to Monaco each year and takes place at the previously mentioned Stade Louis II. The event is often known for record breakers with Genzebe Dibaba achieving what many had believed to be unachievable, breaking the 1500m world record with a time of 3:50.07.
  6. World Showjumping Championships: the cars are moved away from the Principality with their predecessors reigning in a week of show jumping competition. The area surrounding the Port Hercules of Monaco is turned into an arena and stables. This event brings large sponsors from around the world, with many billionaires sponsoring teams and some even have children competing.
  7. Artmonte-carlo: This contemporary art fair takes place every year in the Grimaldi Forum, it is a wonderful event that showcases collections from galleries around the world. You can often spot a Kusama or Picasso and there are often some incredible photography exhibitions too. The sister of this event is artgeneve, the largest contemporary art fair in Geneva.
  8. Music: Celebrated global music acts stop off in Monaco and stage their shows in either the Grimaldi Forum (a purpose built arts space) or at various other locations such as the Prince’s Palace, the Casino Square and Port Hercules. Previous performers include: Elton John, Lady Gaga, the Pussycat Dolls and Bob Sinclaire amongst others.
  9. Monaco Ballet: A sight for the eyes, never have you seen such beauty in the movement of human bodies than when watching one of the various performances showcased by the Monaco Ballet Company at the Grimaldi Forum.
  10. Auctions: Monaco hosts some of the world’s most famous auctions for art, jewellery, watches and cars. There are sales held by ArtCurial and Christies amongst others and they take place throughout the year in the Hotel Hermitage’s grand reception rooms with items being displayed pre-sale around Monaco.
  11. Monaco Yacht Show (MYS): This event is the largest superyacht show of its kind and attracts the wealthiest people from across the world who are looking to purchase their latest superyacht, or, book their next yacht charter holiday. This event usually takes place in late September every year.

If you are interested in the lifestyle of Monaco, why not contact Monaco property broker Fraser Richardson and ask him to show you around some properties.

Beautification – How To Improve Your Home’s Value According to Rusty Tweed

Beautification – How To Improve Your Home’s Value

According to Rusty Tweed, we all approach certain signposts in the road of Life when it comes to adulthood.  Marriage, Starting a family, and the big one most of us encounter, Howe Ownership. The great thing about home ownership is that the value of your home is not locked in once you make your initial down payment.  Home values can fluctuate wildly depending on the market, how other homes in your neighborhood are selling, and other intangibles.  One tangible thing that you as the homeowner can do to improve your home value is making improvements to the property.

Home Improvements

The first thing Rusty Tweed states that a home assessor sees when they come to your property is the overall view of the property itself.  How does your lawn look?  Is it a healthy bright green?  Or is it unkempt and starting to turn brownish?  Look at your driveway, are there oil stains on the concrete?  Chips in the pavement?  How about your home siding?  These are all things that leap out to the assessor before they even walk into your home to conduct an assessment.

When you’re conducting improvements, always start with the outside of the home.  You can patch those holes in the driveway or replace the concrete altogether.  The siding can be redone and repainted and you can contact a good grounds crew to spruce things up with the lawn outside.  You can also plant flowers in certain spots that will catch the eye and brighten the ambiance outside.  

Inside The Home

Now that the outside of your home is looking its best, Rusty Tweed says it’s time to switch to the inside of the home.  It’s always good to make sure that you have the latest and most up-to-date electrical code for your home.  You should also check your heating / cooling and plumbing work at this time too to make sure that it’s current.  You can make improvements to these systems and those could take form in a tankless water heater for instance or central air conditioning.  

Adding additional amenities to the home can also raise the value with such things as a Solar Hot water system or a kitchen island.  If you think in terms of buying a car, you’re adding additional options for the prospective car buyer (home seller, in this case).  While making these changes, now would be a good time to check your home’s foundation.  The assessor will check this as part of their assessment to make sure that your home sits on solid ground and that there are no cracks or chips forming in the masonry walls.

Contact Rusty Tweed today if you’re in the market for real estate and real estate exchanges.  Rusty has been in the real estate trade now for over 30 years and his expertise can help you today.

Temporarily Lowered Taxes Means Now is the Right Time to Buy Andalusian Property

No matter where in the world you currently live, many people dream of Spanish home ownership, and thousands of those people every year make that dream a reality. If you’ve been waiting for the right opportunity to make your dream of living in Spain come true, then that moment could be now. The Andalusian government have announced a new decree that will see property taxes in the region temporarily lowered for all potential new homeowners, which could make purchasing a home in the region more affordable than ever. Here’s everything you need to know:

Which Property Taxes are Affected?

The two taxes that will be affected by this new decree are the Transfer Tax and the Stamp Duty. The potential savings could be significant. The previous Transfer Tax rate was 10%, 9%, or 8%, depending on the value of the property you were purchasing, but this has now been dropped to 7% regardless of the property purchase price. A similar change has been made to Stamp Duty, which has been reduced to 1.2% (from its previous rate of 1.5%). 

It’s important to note that this reduction in property taxes is a not a nationwide policy: it only applies to properties in Andalusia. What’s more, there is a time-limit on the initiative, so you’ll have to move fast. The reduction will only be in place until 31st December 2021, meaning that now is the perfect time to start your property search. 

These reductions will make purchasing property in the region much more appealing and affordable than ever before. If you’re not sure what the real-term implication of these reductions will be, here we assess things more extensively: 

Making Second-Hand Property More Appealing

Whilst this news is excellent for all potential property buyers, it is particularly interesting for those who are hoping to invest in second-hand property (a term to refer to all property that isn’t newly built). The more your potential purchase costs, the more money you will ultimately safe on your property transfer tax. The flat transfer tax rate of 7% will apply until December 2021, at which point it will revert to the previous rates. These rates were determined by the property value, and saw home purchasers spending the following:

  • Up to €400,000 you pay a Transfer Tax rate of 8%
  • From €400,000 to €700,000 you pay a Transfer Tax rate of 9%
  • From €700,000 onwards you pay a Transfer Tax rate of 10%

If the right home for you is a new build home then, whilst you will be able to take advantage of the 7% transfer rate, you will also have to pay a 10% VAT rate, which is why second hand homes are a more attractive proposition at this point. 

How Much Could I Save?

The main question that many potential property buyers will have at this point is ‘how much could I save?’ This depends on how much your property is worth, but the potential savings are significant. An example of this is that if you want to invest in a beautiful Mijas Costa villa that has a purchase price of €1,500,000 then instead of having to pay a Transfer Tax fee of €139,000, the transfer tax that you would have to pay would now be €105,000, meaning that you would be looking at a saving of €34,000 if you purchase a home this year. 

You could also save money on your stamp duty as a result of these changes. Stamp duty has been dropped from 1.5% to 1.2%, which applies to new build properties (but is not applied to resale homes). This means that new build buyers can also benefit from a significant tax reduction during this period. 

What are the Reasons for these Changes?

The Andalusian Government have implemented these changes is order lower property taxes in the region and make investment in the area a more attractive proposition. Other reasons for these temporary changes are: 

  • To encourage investment in the real estate sector, encouraging buyer both from within Spain and overseas to choose Andalusia when making their next move. This will encourage them to invest in the local property sector and simultaneously, the local economy.
  • To recuperate taxes in an indirect way, by giving local citizens access to a higher economical capacity, with the hope that this will be expended back into the economy, ultimately.

 If you’re thinking of moving to Spain, particularly to Andalusia, then there’s no time like the present.  If you’re ready to turn your dream of Spanish home ownership into a reality then why not get in touch with our local property experts, who are perfectly placed to help you find the Spanish home of your dreams.