Tenerife property Buying Tips

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Home is where the heart is - Pliny the Elder

The Canary Island of Tenerife began the year with an intense tourism promotion at 11 travel fairs during the month of January to markets, such as Holland, Austria, Norway, Finland, Luxembourg, Germany, Portugal, Switzerland, Ireland, Denmark and Spain.

Therefore if you’re considering investing in Tenerife, homes for sale as a rental opportunity look set to provide a very good rate of return as visitors increase.

When looking at properties for sale in Tenerife, beware, don’t leave your ‘brain on the plane’ and let your heart rule your head! Just because you’re in a foreign country the same rules apply in buying an apartment or villa.

Top Ten Tenerife Property Buying Tips

1. Be prepared to do some thorough research, checking basic facts and legal issues. Find out who owns the land you want to buy on. Is there planning permission in place? Does the developer have references and a good track record?

2. Viewing toolkit: take with you a torch, compass, tape measure, camera, pen and paper.

3. Engage a reputable, English-speaking local lawyer who is familiar with property laws and who’ll be able to give you impartial advice. The less you leave to chance, the less opportunity there is for things to go wrong.

4. Visit the area at different times of the year. A lot of holiday destinations are seasonal and may shut down when the tourists go home. If you are planning on living in the property, check that this is practical.

5. Repairs or additions - Find out what building work has been done to the property in the last 10 years and ensure receipts and guarantees are available – and that any alterations had full planning consent. Also check the utilities - gas, electrics, heating and hot-water systems.

6. Try to meet your neighbours, it’s always good to know that there are people around to keep an eye on it for you, especially if you’re letting it out.

7. Make sure you are fully aware of any restrictions on renting out the property and that you understand the financial and legal implications before you sign on the dotted line.

8. Capital growth -Look for areas where demand for property is high and supply is restricted – the need for housing can also increase due to population growth, demographic changes, e.g a new marina being built, or school.

9. Take a step back and try to get an understanding of the overall market. Analyse what makes an area so popular and see if you can predict the next one.

10. Think about what happens if you want to sell your property, would it look inviting to another potential buyer?

Thank you to Homes of Tenerife for this collection of property buying tips. Visit the Homes of Tenerife website for an impressive collection of properties for sale in Tenerife and Fuerteventura.

Property in Tenerife
Sunshine Estates have partnered with a number of local developers and estate agents in order to provide the finest range of property for sale in Tenerife

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Tenerife property Buying Tips

Tenerife Property Related Information

Top Ten Tenerife Property Buying Tips