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It seems that the entire Spanish property market is for sale right now. Imagine it as a giant Spanish property superstore, with varying levels of discount available on thousands of different products.
I´ve already mentioned in previous articles how some buyers can become distracted by those properties with the lowest prices. These don´t necessarily represent the best examples of Spanish property bargains.
The 3 key elements to identifying a true bargain are LOCATION, QUALITY and PRICE. If a property scores high marks on all three of these criteria, then it starts to represent value for money, and therefore could be truly considered a Spanish property bargain.When buying a property in Spain, think about how you would go about buying other items in the sales. Your buying behaviour is probably fairly consistent across a variety of products, whether you´re buying a sweater or a car.
For instance, if you are shopping for a sweater in the winter sales, are you more likely to buy a basic cotton version for £15 (reduced from £30), or a cashmere sweater for £25 (reduced from £50)?
In making your decision, you are likely to consider several things, but uppermost in your mind will be the cost of the garment, and how long it will last. If the cashmere sweater still looks great in 10 years time, while the £15 version lasts only 12 months, then which garment has provided better ´value for money?
Buying property in Spain shares some similarities, and you have to weigh up how you are likely to feel about a purchase in 1, 2, even 10 years time. Are you likely to regret not spending a little more in the sales to get your hands on something that´s actually far better value?