Is this a good time to buy property?

We always ask ourselves this question when we’re thinking about buying a house, but in these uncertain times with the current crisis the question takes on even greater significance.

The answer is yes. If you’re thinking of buying a home, this is undoubtedly a good time. Stay alert. In times of crisis there are always good opportunities.

Don’t rush in on the first impulse though. Super offers are very attractive, but examine them carefully and see what’s what before you jump in and buy.

If possible, always buy property with guarantees that ensure you will be covered in case of unexpected issues.

At Jetvillas, we’re the only real estate agency in the Costa Blanca area which offers a 20-year guarantee again unexpected issues when you buy a home.

This is a very good time for those able to do so to take advantage of opportunities which may appear on the market and invest in property.

It’s undeniable that the real estate market, like all others, has been affected by the Covid-19 crisis. However, property purchase remains an excellent medium and long-term investment, whether you intend to live there or are buying as an investment.

Moreover, did you know that if you’re not an EC (Schengen Space) citizen and you invest in Spain, you can obtain the Golden Visa which will allow you and your family to travel within the EC with no restrictions?

Contact us and we’ll help you obtain your Golden Visa.

Although it’s true that there is still uncertainty, property prices are more than likely to continue to fall.

Many owners are enduring hardships and need to sell their properties as soon as possible. We’re certainly not happy about that, but we must admit it creates opportunities for those able to invest.

IF YOU CAN BUY, BUY

For the following reasons:

• The rules of supply and demand:

Many people want to sell their properties: people who need liquidity, people who have lost their jobs, who are unable to maintain their holiday homes, who have divorced, inherited property…

This increases the supply available on the market, meaning prices will certainly fall.

• Countercyclical policies:

Crises are cyclical. The current situation has been deeply affected by Covid-19, but the possible risk of a world recession was already forecast in 2019.

In the same way that the signs that warn us of an approaching crisis are studied, the policies to be launched to allow a country to come out of the crisis are also studied.

2020 is a year of crisis, and this means those prepared to invest must be given facilities and benefits.

• Because the banks will back you:

If you’ve decided to buy and you have enough resources to do so, the banks will back you because it’s in their interest to sign new mortgages they are guaranteed to gain back.

• Because prices will increase sooner or later:

Bear in mind that in the long-term, the market always corrects itself.

The principle of a good investment is to buy cheap and then sell for more. It is, therefore, a good time to make the most of the current low prices and sell in the future, when the market has stabilised and prices have gone back up. That will mean the margin will be your profit.

Don’t buy just any old property

The financial effects of this crisis are expected to have consequences for the next 3 years, so it’s vital that you choose the property you’re going to buy very carefully:

• Consider that WFH (work from home) is here to stay. This means that property in urban centres (and closer to possible workplaces) may become less valuable while those on the outskirts of cities, which are cheaper and provide better quality of life, may gain popularity.
• If you find the property you were looking for, make a reasonable offer and don’t wait too long to decide.
• Study the area before you make your mind up: Check who the neighbours are, whether there is any building underway or plans for construction in the immediate surroundings… Visit the area around the property at different times of day to see what goes on.

At Jetvillas we think this is an ideal time to buy and we would be delighted if you choose us to accompany you throughout the process.

We will place all our tools at your disposal to make your property purchase a unique experience.