When you are buying a second home you are actually making one of the biggest investments of your life. Your second home will either be a source of income or it will be your own retirement haven and you need to make sure that you have chosen the right area for your second home. 45% of retirees for the period of 2014 to 2016 opted to buy a second home in Spain and for good reason. Additionally, 84% of those holidaying in Spain use houses owned by UK residents.
Spain remains the top holiday destination for those living in the UK. The excellent climate and the freedom to live lifestyle in Spain attracts thousands of holiday-goers every year. In fact, the UK has an endless love affair with Spain and the idea of Spanish holidays. Here are the top three reasons why you need to consider Spain for your second home:
The Spanish Costas are the top holiday destination for many Brits. Endless stunning beaches and a party lifestyle attract more and more people to the shores of Spain every year. Your second home in Spain could very well be your second income. If you decide that owning a beach home in Spain is perfect for you, you can choose to rent it out to holidaymakers during peak seasons. During these times you can charge people to stay at your house. Take this income and put it directly in your bond and watch as your payments decrease. During off-peak times, why not continue the cash-flow by renting the house to businessmen and women visiting Spain.
Cost of living
The cost of living in Spain is what attracts so many people to the area. Pound for Pound, Spain just makes sense when it comes to saving on daily expenses. Votes at the best value for money destinations you simply cannot go wrong when you choose to buy your second home in Spain. To give you an idea, I recent study found that a basket of groceries which included, fresh fruits and vegetables, as well as meats for three days and a bottle of wine, cost the same in Spain as to a single bottle of wine in the UK. While you might pay a little more on essentials such as gas, you will definitely save on other areas including food and entertainment.
When you buy a second home in Spain you are essentially buying into a culture. Whether you choose to buy your home in the bustling cities the likes of Barcelona, Valencia, Seville or Madrid or iconic beach towns along the Costa Blanca, you will find that the areas are steeped in tradition. Each area has its own elements which make them unique. You will have no choice but to sit back and take it all in, there is nowhere you can run from the culture in Spain. From shopping to visits to the local municipal buildings. Let go and relax while you take it all in. Buying a second property in Spain is the adventure of a lifetime.