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What you should know when buying a property in tenerife

Being able to buy a house in Tenerife does not have to be such a complicated task. Buying and selling a property is an important process that not only involves a large financial investment, but also involves a thorough analysis of other aspects.

Therefore, defining the tastes and housing needs is the first step to start the search. Likewise, the advice of a suitable real estate agent is essential at the time of finalizing the purchase.

comprar casa en tenerife

Key aspects to take into account when buying a house in Tenerife

Buying a house in Tenerife is a dream that is increasingly being realized by both Spaniards and foreigners. The island of the radiant sun offers legal security, good climate, valuable real estate constructions away from the hustle and bustle of the big cities. This translates into great investment opportunities and good business.

Therefore, if you want to buy a house in Tenerife, the first thing you should do is to have the right legal advice. In this way, you will be able to analyze with an expert the feasibility of acquiring a new or first-hand property. In addition, you must be attentive to the following aspects.

Analyze the area where you want to live. Keep in mind the type of property and the characteristics of the houses for sale in Tenerife that most appeal to you.
Calculate the budget and the short and medium term income projection that you have available for the investment.
Negotiate the price of the house, make reasonable offers.

Also, you must make sure of the costs of processing the property and the payments for the deposit and signing of the purchase contract.

comprar casa en tenerife

Regulatory documents to check the legality of a property in Tenerife

The legal steps and the necessary documentation are key to formalize the purchase of a house in Tenerife. When you have found the perfect house and the real price for it has been established, it is time to start processing a legal purchase contract.

To do this, your lawyer or a trusted expert in real estate brokerage will proceed to review all the legalities and formalities involved in buying a house in Tenerife. If you are going to buy a house first hand, the documentation you should check is as follows.

  • Check the title deed of the property, make sure that the property rights comply with the Spanish legal regulations.
  • Check the certificate of ownership and registration charges.
  • Check that you have the certificate of habitability that proves that the property can be inhabited after the purchase.

Also, it is necessary that you have the pertinent personal documentation. And in case you are a foreigner, remember to apply for the NIE and open a bank account in Spain to transfer the necessary funds to buy a house in Tenerife.

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