Life on the Island: How to Purchase Property in Tenerife?

Modern life can be tough, especially for people who love nature but are forced to be confined in the walls of the city, following its hectic pace. Property for sale in Tenerife is an immensely alluring option as it’s represented by surprisingly low prices, excellent weather, and beautiful sights. You might have heard a lot about it — despite your excitement, though, don’t rush. There are many nuances related to Tenerife property purchase that you should know.

Life in the Island: The Benefits

If you’re still wondering about the benefits that a life on the island in Tenerife can offer, here is the list:  

  • Summer-like weather all year long;
  • Breathtaking sights;
  • Cheap prices.

The sun-lit island is famous for its warm weather that attracts local residents and potential dwellers alike. Even during winter, the temperature remains 14°C at the lowest. People who love warm weather will especially appreciate Tenerife because they will be comfortable regardless of the time of the year.

Tenerife’s sights are considered among the most beautiful ones in the entire world. They are diverse, so you can choose between mountains with their greenish-blue color pallet, pine forests if you prefer cooler air and seclusion, or even local towns and villages with their rich culture. At the same time, you can buy a property at the beach if you love sunbathing. So, Tenerife can meet all kinds of preferences, which makes it a perfect spot for living.

Cheap prices are another attraction. A single person can live there for about 600$ per month, which is much cheaper than the average price of living in the US or the UK. So, how to purchase a house in Tenerife?

The Process of Purchasing

After choosing the property or location you’re interested in, the first thing you’ll need is hiring a lawyer. Looking for property for sale Tenerife could be a perfect option. If you make a mistake, you’ll lose a lot of money and possibly even a chance to buy another property for the next years. A lawyer will make sure that the agreement you enter into is beneficial for you.

The second thing you’ll need if you are not sure what property to buy yet is finding a Spanish estate agent. This way, you’ll learn about the intricacies of the location you’re interested in and make sure that no international issues occur.

Another essential aspect entails finding a foreign exchange broker. Conversion rates can be extremely high, so if you’re making a purchase that costs thousands, make sure you save up where you can. Don’t rely on the services of your local bank.

You’ll have to pay 10% of the total price of the property you’ve chosen. Then, your lawyer will finalize the process by making final checks and giving you documents to sign. Read carefully to understand what you’re signing and if anything at all is confusing, clarify it.  

In the period of between four to six weeks, the whole process of purchase will be completed. By using the services of the lawyer, you’ll know how much you’ll have to pay and what additional charges might be applied. It’s better to clarify all financial issues in advance to make sure that you can afford everything, including taxes.

That’s it. Provided that you found a good lawyer and have all the money required, you’ll become a happy owner of the property in Tenerife without much hassle.

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