WHAT DO YOU NEED TO KNOW ABOUT YOUR PROPERTY IN MALLORCA
Having a clear idea as to what you are looking for in a property and what you requirements are, will go a long way towards ensuring you find the right fit. The property you buy today will be an important part of your assets tomorrow and whatever the reason you are buying for may be, real estate in Mallorca is a major investment and there are a few key factors to consider.
Be honest about your current circumstances and where you see yourself in the future. This will help you identify what exactly your needs are and help you find a property that suits your lifestyle and your budget.
REASONS FOR BUYING A PROPERTY IN MALLORCA
Are you buying as an investment, a second home, to let as a holiday rental or for sporadic holidays in Mallorca? Will the property be lived in or empty for large parts of the year? If you plan to leave the property closed throughout the winter for example, this is something worth noting during your property searches. It may be wiser to look for a house that can be left unattended for long periods and that doesn't require a lot of maintenance and up keep or, budget maintenance into your overall costs. If you are planning to move to Mallorca on the other hand, consider what your property will be like out of season.
Regardless of your reasons for buying a property in Mallorca, concentrate on buying a well built quality house because it feels good to live in. Chances are it will feel good to potential holiday makers and future buyers too.
LOCATION OF YOUR PROPERTY IN MALLORCA
Personal preferences aside, the location of your property will determine the price you pay and planning restrictions on the house and land, how much you can refurbish the property and the margin for resale and possibilities for holiday rentals.
Mallorca is a relatively small Mediterranean island and a good road work and infrastructure ensures a large part of the island is well connected and serviced, wifi and internet available in most areas and good hospitals, schools and a state of the art international airport running daily flights all over the world. However, not every area on the island is the same, nor does it enjoy the same level of services and ammenities, therefore a priority list is essential in determining what is going to be most important to you and choose your area accordingly.
DESIGN AND STYLE OF YOUR PROPERTY IN MALLORCA
House design is key, though house buyers often find they start off with one idea in mind and end up buying something completly different. What may at first seem unattractive, say a rooftop apartment in a busy resort town, may become a very practical and affordable option with vast posibilities for generating income and a easy place for sporadic holiday escapes.
On the other hand, a large villa with 6 bedrooms way out of town may at first incite dreams of vast family gatherings, but can become a cumbersome and over expensive burden when the grandchildren don't visit quite as often as one hoped.
The tiny townhouse in need of a lot of work may prove to be the golden opportunity and become a vastly satisfying and creative enterprise. Or not.
This is your house, buy it for your own use.
FINISHINGS AND STRUCTURE OF YOUR PROPERTY IN MALLORCA
Quality finishing does make a property look amazing, yet it is worth looking beyond the gloss and making sure the house is well built. A tasador will determine the value of the property (this is necessary if you are getting a mortgage but can be done even if you are not) and ascertain the condition of the build, structure, utilities and any appliances which come with the house.
Having said that, reforms and unexpected repairs can escalate, spiralling costs out of control. Modernising an old finca or villa may seem romantic, but the figures need to be calculated with care. However, refurbishing an old property often means you can purchase in better locations at a lower price.
PROXIMITY TO THE AIRPORT
The need for this depends largely on whether you travel regularly, plan to rent your property as a holiday home or live permanently on the island. The airport in Palma de Mallorca sees over 10 million passengers a year, mostly concentrated into the busy summer season and consequently runs a highly efficient operation, with taxis, transfers, tour buses and rental cars, as well as reasonably priced short and long term parking. Mallorca has a clearly signposted road network with modern motorways connecting most key areas on the island to the airport and nowhere, however remote, will take much over an hour's drive to get you from the property to the plane.
AMENITIES AND LOCAL SERVICES IN YOUR AREA IN MALLORCA
Some areas, towns and villages are particularly cosmopolitan and provide all the services, high wifi connection, good quality restaurants, international banks, you would expect back home, while others are simply traditional villages with seasonal agricultural fairs and one local bar. Popular resort areas tend to be best equipped in terms of amenities and services.
THE LANDSCAPE OUTSIDE YOUR WINDOW
Do you want a sea view or would you rather be tucked down a cobbled street or out in the countryside amongst the olive groves? How close to the coast do you want to be? Or to the airport?
Mallorca has areas which are easily accessible and others which are remarkably off the beaten track, even for the small island it is.
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