2.6. Renting property in your chosen area
RENT BEFORE YOU BUY
Before buying real estate in Mallorca some buyers prefer to rent a property in their chosen area and experience the island first hand.
This is especially useful if you are thinking of relocating or buying to let, but any form of property investment in Mallorca will benefit from the vast local knowledge you can gain by spending a little time on the island beforehand.
INVALUABLE LOCAL KNOWLEDGE
Most house buyers will spend an average of 20 minutes viewing a property, a viewing trip to the island may pack in 4 to 5 properties a day which can leave you muddled and confused as to what you liked where, and which feature belonged to what property. That is not to say that viewings are ineffective, but if viable, the more you know about Mallorca, the propetry market and trends, the diverse and widely different areas all within a short distance of eachother and the seasonal variations and local lifestyle, the better equipped you will be to make an informed choice and wise real estate purchase in Mallorca.
VAST PORTFOLIO OF PROPERTIES FOR RENT
The Mallorca holiday rentals market offers thousands of properties for rent all over the island, some, private homes let during the holiday season while others are rental villas reformed exclusively with holiday makers in mind and the choice is vast. There are houses for rent pretty much everywhere and every kind of property, size, style and specifications, varying hugely from simple townhouses in the villages to state of the art mansions on the clifftops overlooking the sea. Choose to rent a house as closely matched to the kind of property you are interested in buying, and in the same area, and you will gain invaluable first hand experience of what to look out for on your property search.
GETTING TO KNOW YOUR AREA
Renting a property in Mallorca before you buy will also allow you to acquaint yourself with locals and foreign residents, speak to shop owners and spend some time with your real estate agent. You may also be able to gain valuable information from other buyers. It will give you some time to explore the area and help you decide if this is really where you want to buy property or whether there is a more suitable area you had overlooked.
RENTING PROPERTY OUT OF SEASON
Renting out of season is also useful as it will give you an insight into a wholly different Mallorca, tranquil, empty and milder than the scorching mid summer. If you are hoping to buy to let, then renting a house out of season will give you the chance to experience the island not only at its best, but at a time when your future property will most likely to be available.