The first thing to bear in mind when looking for a property in the Canaries is that it’s going to be hot and tiring work. So it’s absolutely essential to engage a good estate agent to do the donkey work for you. You will find all sorts of grandiose claims being made: remember that anyone can set up as an estate agency here, so learn to read between the lines. For example, any agent who claims “we win all the prizes all the time” is really saying “we enter competitions, rather than find our clients homes in the sun”; any who claim “we are a small family concern” is really saying “we don’t have too many properties on our books, and maybe not too many staff either, so don’t expect too much”. A good estate agent will be registered and have a good reputation – and lots of properties to show you, one of which will be your ideal home.

Rental potential

Think about what you want from your new property. Are you buying with the sole intention of renting out your apartment? It doesn’t actually matter whether you like it or not! What matters is whether the property itself has good rental potential – i.e. whether your own clients will like it. If, on the other hand, you like the sound of an independent villa with its own pool, think about how you would ensure that it is maintained and cleaned on a regular basis, and how much it might cost? If you are relocating, how will it feel in three years to be living full time on a complex with part-time residents always coming and going, and splashing in the pool every day?

In brief, think with your head, not your heart, and don’t get carried away.

Getting advice

When you get to the stage of buying the property you’ve found, you will need to deal with bureaucracy: again, a good estate agent will help you transfer money from the UK, open bank accounts, arrange mortgages etc, as well as give advice on transporting animals and furniture, equipping your new home and schools. Do not feel you have to do this on your own. Beware the kindness of strangers: people who have already bought abroad often do not mean to mislead, but their experiences are not of the present time, and rules can change, and frequently do, as well as differ from region to region.
Bear in mind, too, that on top of any property price there will be certain costs, approximately 10 percent.

All legal documents should be translated for you, so that you know exactly what you are paying for, and what you are signing. The agent will also help you finalise Spanish wills, without which a fairly straightforward matter can turn into an extremely lengthy process.
Finally, accept that in the Canaries ‘things take time’. Manana really does mean ‘tomorrow’ – but it also means ‘the future’. So, here’s to yours.

Useful information

Horizon Property Group
Tel (UK): 0871 284 0639
Tel (Worldwide): (+34) 922 798 113
www.horizonpropertygroup.com