What to look for when buying a home

Jun 25, 2020 |

As you well know, buying a home is the most important investment we'll ever make. This is important both financially and personally. It's important to make sure we make the right decision.

Below is a list of the 5 most important items to consider.

Distribution (current state and renovation).

The home of your dreams should have the layout you want. An open or closed kitchen? One bedroom next to the dining room? Two bathrooms or a bathroom and a toilet? Large, open spaces or more rooms? Make sure the home can, immediately or in the future, become the one you want. Once you've selected it, it's always a good idea to seek the advice of an architect to assess whether the changes you want can be made.

Building (facilities, age, state of conservation and neighborhood).

It's important to verify the property's age and the condition of its ITE (document certifying its state of conservation) through the Technical Building Inspection. This document is crucial as it will help us understand whether we'll have any additional expenses in the coming years after the purchase. We must also consider the existence of a concierge, parking on the property, elevators, communal areas, and, above all, how the community is structured and what the distribution regime is. Community expenses . It's a good idea to have access to the latest community minutes to understand what's going on.

Energy Efficiency (Orientation, insulation, installations).

Increasingly, buyers are paying more attention to a home's energy efficiency, knowing that improved efficiency will ultimately translate into significant savings on utility bills.

Since 2013, it has been mandatory for homes to have an Energy Efficiency Certificate (EEC) . This certificate, issued by a licensed architect or surveyor, details a home's energy efficiency. It takes into account the orientation (the number of hours of sunlight the home receives), the quality of the insulation (partition walls with a cavity, wall thickness, type of enclosures with or without a cavity), and the type of air conditioning/heating system.

Documentation (certificates, charges and encumbrances).

During the purchase process, all documentation must be verified. Check that the Certificate of Occupancy (CH) is valid, that the Energy Efficiency Certificate (CEE) is correct, that the person claiming to be the seller is the seller and is willing to sell the property, that there are no liens and, if any, that they are removed on the date of the public deed of sale, that the square footage is as advertised in the sale announcement, and that there are no urban planning encroachments. In addition, you must also ensure that the property has the ITE (Spanish Property Tax), that community fees are up to date, that property taxes are paid to the City Council, and that utilities are registered and up to date.

Environment (communications and location).

Location is usually the main criterion when purchasing a home. Factors such as proximity to public transport , schools and/or universities, sports centers, shops, etc. nearby markets , parks, and green areas . We must also consider upcoming urban developments that could improve or worsen that location. Sometimes, when we find "THE" home, it's difficult to isolate these elements, but they are very important when determining the value of that property and projecting that value into the future.