What factors determine the price of the house?
The house price is determined by the area and location, given that land prices can vary greatly depending on where it is. Other important factors include the quality of the materials that are used in construction.
Are there different types of surface area?
You must remember that surface area is in different ways:
·Built-on space: this is the total area that the home takes up, including the thickness of the walls and the ventilation systems.
·Calculable space: this is the area which has been built on plus a proportional part of the communal areas in the building, e.g. stairs, porter’s lodge, garden, swimming pool, terraces, lifts etc.
·Floor space: this is the property area, including terraces and balconies, but does not include the walls and communal areas.
Is the property location really that important?
It is the most important factor in your final decision. You need to check that the property suits your personal needs (work, education, transport), family situation (nearness) or simply whether it suits you socially (living in the city/countryside). The choice of area has a direct affect on the property price, future costs and the whole family’s quality of life.
How can I tell if an area is well equipped?
If the area is well equipped, both you and your family will enjoy your new home more. You need to look into the area’s facilities as regards shops, schools, health services, leisure or children’s play areas near to your home.
Can a local building development project affect the property?
It can either benefit or hinder it according to the situation. The town council will give you information about possible projects or building developments which may affect your future home.
Which is the ideal position for a house?
There is no general standard for every property, everything depends on the requirements and expectations that you have for your new house. You must remember that properties in the interior of a block of flats are quieter and peaceful than those closer to communal areas. One of the most important aspects is that the property has rooms facing towards the sun so that there is natural light available. It is also better if there are external windows so that you have a view of the streets.
How can you tell the quality of the property?
Security, e.g. building quality, solidity, isolation and soundproofing; comfort, e.g. adequate heating, quality flooring, internal and external woodwork, bathroom suites, plumbing etc., in addition to the interior design are all factors which improve the property’s quality. In the case of a pre-owned property it is essential that you consider the state of the above, e.g. doors, cupboards, windows, any structural problems whether inside or out and damp-proofing etc.
What elements need to be looked into before purchasing a property?
·The quality of the materials: look at the walls, ceilings and floors. It is important to check the state of the floor tiles, skirting boards, mouldings, paint etc.
·The isolation and soundproofing: to guarantee maximum comfort and energy savings it is vital to consider the effect of external temperature over internal. The grade of soundproofing is also important.
·Gas installations: check if the property uses natural, city or butane gas and also if the installation corresponds to legal standards. If anything is not correct the gas company is obliged to undertake the necessary changes before offering the service.
·Plumbing: check that you can turn on all the taps at the same time without losing pressure and also that the water heating system works correctly.
·Electricity: check its installation and voltage; lastly, check that all of the electrical appliances work correctly.
·Heating: check that everything is in order.
What information can you find out about the property from the seller?
The information that you can find out from the seller depends on the type of property that you are buying. If you are buying a new property, you can ask for the following information: ·Agent or Company name, address and the date of entry into the Commercial Register.
·Location plans for the property, a description including the floor space of the building, services and their suppliers, in addition to communal areas.
·Property registration date.
·Copies of the exact licences relating to property construction and occupation.
·Community By-Laws.
·Total sale price and payment method.
·If you think that the mortgage may be deferred to another company, you will need all relevant details.
·Check how the contract will be documented, both regarding its general and more specific conditions, check that everything is clearly expressed, especially regarding:
a. That the consumer is not responsible for any foreseeable costs regarding questions that the seller is legally responsible for.
b. It is stated in articles 1.279 and 1.280 of the Civil Code that the buyer has the right to access public deeds.
c. The right to choose a solicitor, which always corresponds in these cases, to the buyer.
In the case of a previously owned property, you can ask for the following information: - The last Property Tax (I.B.I.).bill
- Proof that all payments to the Proprietors Community are up to date.
- Authority and Liabilities Certificate showing no problems brought about by non-payment of local Property Tax.
- Copy of the Statutes which govern the Proprietors Community.
- If the property ownership arises from inheritance, or from a recent acquisition, check that the corresponding taxes are paid.
- If the property is already mortgaged you must present a certificate indicating the state of the credit present: this must come from the credit company. |