How and when to buy a second home: useful tips

The Marina Alta is consolidated as one of the best Valencian real estate investment territories

A. P. J. | València,  Source: www.levante-emv.com

Your search on Google generates more than ten million results in just one minute, the purchase of second homes in coastal areas upward and the causes are very varied. Thus, the acquisition of these types of properties has several advantages, including profitability, tourism activity and, therefore, a dynamic real estate market.

However, acquiring this type of property implies a high economic outlay, so knowing the state of the sector to discern which are the most optimal proposals is essential.

After the economic crisis and the period of recession that dynamited investment rates at the end of the previous decade, Spain has managed to stabilize its market. A fact that directly influences the supply of goods and their price.

And, according to the latest estimates published by various industry entities, buying a home in Spain will be up to 2% more affordable in just two years. A trend that has not gone unnoticed among the population, since a recent report from the Casaktua real estate portal establishes a significant percentage increase in the volume of people who are immersed in a process of searching for second homes, especially in the Valencian Community.

From renting it or acquiring it for personal enjoyment or to resell it, the second residences trace a wide horizon of possibilities for the real estate market, as well as for its owners. So much so, that the same monograph predicts that 43% of new buyers will acquire a second home.

Five tips to buy a second home

• Type of housing use. When buying a second home, establishing its type of use is vital. In this sense, it is necessary to consider whether the new property will be for personal use or if, on the contrary, it is intended to obtain some profitability from it through rentals or resale. For example, if the second house is not in regime or is not linked to any economic activity, the owner cannot use it to deduct expenses in the declaration of his rent.
• Formalize the mortgage. The formalization of the mortgage is one of the most important steps in the process of buying and selling a real estate. From presenting the required documentation - NIF, certificate of registration, deed of the property, proof of income, etc. - to the provision of notarial funds, this action must be carried out with all the guarantees established in the new mortgage law. In addition, details such as the conditions of the mortgage or the maximum financing fund should not be overlooked, which is usually reduced in the case of the acquisition of a second home.
• Record of expenses. The purchase of a new property generates numerous expenses that should not be overlooked, such as property maintenance, home insurance, taxes, etc. It should also be taken into account that if the transaction occurs through a real estate agency, it will incur mediation costs. Thus, experts recommend that the economic charges do not exceed 35% of the new owner's income.
• Consult experts of the real estate market. The real estate market has numerous specificities that can be ignored by the owners, so having the criteria of experts in this sector can be very useful. In this regard, your council can prevent, among other issues, a disproportionate price for a home.
• Location. When buying a second residence, the decision must be made assessing the location of the new property, as it involves numerous risks. In fact, a non-optimal location could hinder your economic profitability. In addition, if the property is located in an area away from the first residence, it will be necessary to visit it and analyze the conservation of the materials to avoid their degradation.

What are the best areas to buy a second home?

Spain is a country with great richness and diversity both geographically and culturally. From interior areas where it seems that time has stopped, to transgressive constructions that are built on urban centers as champions of innovation. The tourist or holiday destinations are endless, although the coastal area is still the preferred destination.

Thus, the Costa Blanca, on the Levantine coast, offers its visitors and residents endless opportunities. And, the Valencian Community is one of the reference regions at the state level in terms of the quality of its beaches.

To its high number of blue flags there is also an unbeatable climate throughout the year with pleasant temperatures and, therefore, various leisure alternatives, both in summer and winter. From walks along the promenades to taking the aperitif on any terrace overlooking the sea, the coast allows you to enjoy a relaxing reading with the sound of the waves as a soundtrack or perform sports activities with friends on a sunny afternoon.

The Marina Alta region offers all these options and many more, since its proximity to Valencia makes it a relaxed and perfectly connected space with the big cities.


Homes in the Marina Alta, quality and tranquility connected

Located to the north of the province of Alicante, the Marina Alta region is one of the most visited and admired territories in the entire autonomous territory. Its diverse orography is able to combine mountainous landscapes, such as the Penyal d'Ifac, with the most attractive beaches with crystal clear waters and a diverse marine fauna.

Thus, the region has iconic municipalities such as Xàbia, Calp, Gata de Gorgos or Dènia. Economic, social and tourist activity is constant throughout the year, so the Marina Alta is consolidated as a timeless destination of quality for anyone who wants to invest in a property in this area.

Grupo ASA, the best residential home in Costa Blanca
The ASA Group offers the best benefits at minimum cost, as the business group stands out for its strong ethical and professional commitment, which has led it, along with the great professional trajectory of more than 30 years, to become one of the main entities of this sector in the Spanish coast.

Its Tossal Gross promotion adapts to all the needs of its owners, offering residential homes and luxury villas in the ancient city of Dénia. Some who can visit thanks to its pilot floors and Sales Office by appointment.

For more information click here.

Dénia Beach, a paradise at your fingertips
In front of the beach and with 7,000 meters of green areas with swimming pool, Dénia Beach is a perfect place to establish your first residence. Its apartments offer large terraces overlooking the sea, Montgó or the well-kept urbanization, trying to take full advantage of the Mediterranean light. You will find ground floors with terraces of up to 100 square meters and attics with up to 30 meters granted of magnificent views.

The urbanization has large gardens for walking, a large beach-shaped pool and many trees. All this, accompanied by Balinese beds and hammocks to enjoy Dénia as if it were on a remote Caribbean beach.

For more information click here.

Engel & Völkers: experience and safety in the highest quality
The best option for demanding clients looking for high quality residential properties in the northern part of the Marina Alta is Engel & Völkers. The German services brand, specialized in the intermediation of residential properties, has two franchises in this area of ​​the Valencian coast, one in Moraira and another in Calpe. In addition, this same 2019 they have obtained the license to work in Altea, within the Marina Baja.

For more information click here.