Should I buy or rent a home in Spain?
If you have not spent a lot of time in Spain, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"We rented an apartment. It was not difficult. We went to a rental agency, they showed us apartments and we chose the one we wanted. The agent gets a commission but that's the only way I know of to rent an apartment here in Salamanca," commented one expat who made the move to Salamanca, Spain.
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"Buying a home in Spain can be a good investment if you are planning a long-term stay there. However, it is important to consider the costs associated with buying a home, such as taxes, maintenance expenses and any potential renovation costs, as well as your income and savings. Ultimately, renting is a better option if you are not sure how long you are planning to stay in Spain or if you are looking for more flexibility. Renting also offers potential tax advantages. You should carefully consider all these factors before deciding whether to buy or rent a home in Spain," remarked another expat in Spain.
Other Questions:
- What do I need to know before retiring in Spain?
- How do I meet people in Spain?
- What is life like in Spain?
- Is there a lot of crime in Spain?
- Is there a lot of diversity? Are people in Spain accepting of differences?
- What are the schools in Spain like?
- Is the cost of living in Spain high?
- What advice do you have for expats having a baby in Spain?
- What are healthcare services like in Spain?
- Is the cost of living in Spain high?
- What type of recreational facilities are in Spain?
- What is the weather like in Spain?
- Are there good restaurants in Spain?
- Where will I buy groceries and do other shopping in Spain?
- What are the visa & residency requirements in Spain?
- Are healthcare and health insurance expensive in Spain?
- What do I need to know when buying property in Spain?
- Are foreigners allowed to own property in Spain?
- What appliances are typically included in a rental?
Should I buy or rent a home in Spain?
If you live in Spain, newcomers to Spain would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.