Moving to a foreign country can seem daunting, but buying property in Lanzarote doesn't have to be hard work. There are a number of property agents around the island who can help make the move abroad very easy indeed.
Here are a few things you might need to know when considering moving to, or buying a property in Lanzarote.
1. Take time looking for the right property.
Don't buy the first thing you come across. Take some time out to travel around the island to find the town or village that is right for you. This could depend on what you want to use the property for. Are you buying it to move abroad or buying to rent it out to potential holiday-makers?
2. Finances
Speak to a property advisor in Lanzarote about spanish mortgage deals, they can often be cheaper than English mortgages. The property advisor will also tell you about legal costs, deposit requirements, community fees and any other hidden expense.
3. Speak to residents
The best way to get an idea if the property is a good purchase is to speak to neighbours or residents. If they have nothing but good to say about the propertys (and property company!) then it should help put your mind at ease when making your decision.
4. A.I.E
This is the 'Numero de Identificacion de Extranjero' and is required for all foreigners who buy a property in Spain. Again, your property agent should be able to help you get this organised, although some may charge a small fee for this.
5. Get a translator
On the day that you sign for your Lanzarote property, if you do not speak Spanish, you will require a translator when you sign the title deeds before a Notary. A translator's fees are approximately between 40€ and 90€.
Where property is involved it is always advised that you cover all bases at all times. If you know someone who has bought a property in Lanzarote then why not talk to them or ask them for advice, even if its just for peace of mind.
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