Mallorca Property Investments - Potential Pitfalls
Book Online at:
Majorca Holiday Villas - www.VillaParade.co.uk/majorca
Looking for Property: Property in Majorca > Property for Sale in Majorca > Majorca Estate Agents > Majorca Property Hotspots > Propery for Sale Mallorca > Majorca Holiday Villas > Mallorca Holiday Villas > Property Pitfalls > Holiday Villas in MajorcaBefore deciding on investing in property in Majorca, ask yourself the following questions:
Can you afford the purchase and subsequent mortgage repayments, and have you taken into account all the hidden costs? These include numerous taxes such as the one-off purchase tax and subsequent annual Capital Gains, Wealth and, if you're hoping to rent, Corporate Gains tax, levied at 30%. Meanwhile, lawyers can be pricey and the process slow, with lots of red tape to cut through.
Do consider whether the size of your family is likely to grow, and factor this into the size of the property you acquire.
Look at any changes to the area you're looking to buy in. Is there a growth in new business openings or have yachts recently begun to moor in the harbour? Conversely, has the council put in planning permission for a new sewage mains close by or has Club Lager and Wet T-shirts just taken over the nearest hotel?
Are there good links to transport and local shops and amenities?
Is the land that you are looking at entirely private? Check that there are no right of ways running across it, or that the lovely well in your garden isn't utilised by the local villagers.
Where possible, ask why the property is for sale and find out how long it has been on the market for - if it's years then the chances are that the price is too high or there's something about your dream property that you've overlooked.
If you're going through an agent, make sure to check the credentials of the company they represent and don't be afraid to change if you're unhappy with their performance. Majorca has some fantastic property agents, but there are some sharks out there too. A good one will keep you regularly informed, be helpful and happy to go to lengths to answer any questions you might have.
And finally: Don't ever feel rushed into investing in a property. It's important to view the property several times before you buy, and visit during both day and night. Listen carefully for any obtrusive noises and try to ascertain who you're going to be living next door to.
World Holiday Travel Guides - Cyprus Holiday Travel Guide & Vacations - Costa Rica Holiday Travel Guide - Croatia Holiday Travel Guide - Dubai Holiday & Vacation Travel Guide - France Holiday & Vacation Travel Guide - Greece Holiday & Vacation Travel Guide - Hawaii Holiday Travel Guide - Ibiza Holiday & Vacation Travel Guide - Italy Holiday & Vacation Travel Guide - Mallorca Spain - Malta Vacation & Holiday Travel Guide - Mexico Vacation & Holiday Travel Guide - Portugal Vacation & Holiday Travel Guide - Spanish Holiday Travel Guide & Vacations - Thailand Holiday & Vacation Travel Guide - Turkey Vacation & Travel Guide
Specialist Breaks - Alaska Holiday Travel Guide - World Cruises - Golf Holidays - Grand Canyon Vacations - Climb Kilimanjaro - Las Vegas Vacations - African Safaris - Orlando Vacations
Weekend City Breaks - Buy & Sell Timeshare - Airport Parking - Airport Hotels - Ferry Tickets - Vacation Rentals in Spain - Travel Insurance
Majorca Guide
Alcudia Majorca & other resorts 
