You have decided to invest in a property? In order to make the purchase of a house or a flat successful, we explain to you which mistakes you should avoid at all costs when buying a property. We at REAL ESTATE YESWECAN BALEARES SL will be happy to support you in the purchase of your dream property and advise you throughout the entire project.


Living environment and location inadequately researched 

If you do not comprehensively research the location and living environment of your future home or second home, you run the risk, after having purchased the property, that the living environment will not meet your expectations. Our main advice is to take your time to explore your future neighbourhood / area, especially if you are moving to a place that is completely new for you.

The condition of the property can easily be improved by renovation, but the location can never be changed. Therefore, prospective buyers should pay special attention to the living environment of the property. It is clear: An investment in a property is a long-term commitment and the better the location, the more stable the value. We at REAL ESTATE YESWECAN BALEARES SL  are very familiar with Majorca especially in Palma and its surroundings, the east of Majorca and the coastal region. We will advise you comprehensively on your upcoming property purchase.

Possibility or need of a changed life situation not considered

Life situations change quickly these days, whether planned or unplanned. This aspect should also be taken into account when buying real estate. As a young couple, you should make sure that, for example, the apartment or the house as well as the living environment are designed for children. An older couple should place a special focus on the accessibility of the property or the possibility of converting it to make it age-appropriate.

Lack of comparative offers for financing

Anyone who does not take the time to buy a property and does not find out about various loan offers, can quickly be surprised by additional costs. Due to the market situation, there are significant differences in the conditions for real estate financing. Since the costs are usually high, even small differences, for example in the interest rate, have a strong financial impact. In oder to avoid any mistakes in financing, an expert can support you in the preparation of a financial concept. This compares the total costs of the real estate purchase, the equity capital as well as current income and expenses.

Incorrect or missing assessment of the need for renovation or modernisation

The purchase price of an existing property is often significantly lower than that of a newly built property. However, many prospective buyers underestimate the need for renovation and modernisation of a property that is already inhabited. In case of any uncertainties, you should inspect the property together with an expert and confront the seller with your open questions. Modernisation measures can represent an increased cost factor after the purchase of a property. As a buyer, it is advisable to rely on the expertise of a real estate agent who will calculate the costs that arise for you so that you do not incur any unexpected additional costs.

Little knowledge of the market

The purchase of a house or apartment should not be rushed under any circumstances. In order to assess the purchase price of a property, you need market knowledge and comparative values. If you buy uninformed, you run the risk of paying a property price that is too high. You should therefore familiarise yourself with the real estate market in your desired location at an early stage or enlist the support of a real estate agent who can take all these tasks off your hands, saving you time and giving you security and peace of mind.

Handschlag nach dem Immobilienkauf

Buying real estate safely with REAL ESTATE YESWECAN BALEARES SL

Buying a property involves high costs and a lot of work, so you should trust in the expertise of a real estate agent. We at REAL ESTATE YESWECAN BALEARES SL support you in your search for the right property. Feel free to contact us for a first consultation.

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