At Vogue Properties, we’re here to help. Although it can be daunting at first, buying a property abroad is much more straightforward when you’re properly prepared. To help you get started, here are five top tips for buying a property in Mallorca (in no particular order).
Looking at photos and videos of a property isn’t always enough to make an informed decision, wherever you buy. So, it’s advisable to view properties in Mallorca in person or send someone you trust on your behalf. When this isn’t possible, estate agents can usually offer a virtual viewing via video call.
Struggling to decide which properties to view? Looking at pictures and descriptions of properties online can be overwhelming. Consider contacting a trusted estate agent directly; they know their portfolio inside out, so they can listen to your wishes, suggest properties that suit your needs, and arrange the appropriate viewings.
Would you benefit more from a property in a secluded area surrounded by mountain scenery, or a front-line property close to a town? It’s a good idea to decide on your priorities at the start of your search, so you can make the most of your time.
If you have your heart set on a specific type of property, you might be slightly more limited about the areas you can look in, and vice versa. For example, country-style fincas with sprawling grounds are usually located in more rural areas, set a little away from major towns. Likewise, old-town locations are most likely to offer townhouses.
Luckily, properties in Mallorca come in all shapes and sizes, from modern apartments to rustic fincas, and expert estate agents can help you find the right balance between style, location, design, and size. With fantastic high-end villas and plots across the island, Mallorca is brimming with potential.
With so many incredible properties to choose from, it’s easy to get swept up in the excitement. For this reason, it’s important to familiarize yourself with the steps for buying a property in Mallorca. Ideally, this should be done before you start the buying process, so you know exactly what to expect.
There are a variety of factors to consider when deciding whether a property is right for you. One important aspect is what the property will be used for. For example, consider the following:
If so, you’ll need to make sure the property is eligible for an ETV license (the mandatory local holiday let permit). If in doubt, enquire about properties that come ready with an ETV license to avoid hassle, like these. Remember to research local regulations, too.
If you don’t plan on being in the property all year round, you might need to think about maintenance. That way, you could save time on gardening, pool cleaning, repairs, etc. Alternatively, you could find a management service to take care of your property, so you don’t need to worry while you’re away.
Do you plan on having lots of visitors or letting your property? If so, it might impact the type of property you’re looking for.
For example, short-stay visitors could need easy access to transport links, while those with children might prefer to be within walking distance to local amenities. Older guests might prefer downstairs bedrooms without stairs.
Knowing your exact budget will make your search easier and help you avoid disappointment. Usually, experts recommend budgeting for 10-15% on top of the sale price to include taxes and fees. If you’re unsure, a trusted, local property lawyer should be able to advise which extra costs apply to your sale.
It can also help to think about which areas you’re interested in. Like anywhere, prices in Mallorca can vary across the island. Doing research and speaking with local, reputable estate agents will help you narrow down your search.
Ideally, you should engage the help of an independent lawyer, who speaks both your language and the local languages, before you sign any paperwork. They can carry out due diligence on the property, check documents, look for outstanding property charges/debts, and help the whole process run smoothly.
At Vogue Properties, we provide bespoke services to help you find the perfect house. We’re passionate about Mallorcan properties and are experts in the local area. With a wide range of services, we’re here to help in any way we can.
Looking to sell your property? You’re in the right place. We can offer a free valuation to get you started.
Get in touch with our multilingual team today or start your search with our portfolio of fantastic properties across Mallorca.
Tags:Mallorca, Mallorca Property, property guide
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