1) DO YOUR HOMEWORK!
It may sound easy but a lot of people going to Spain to buy a property don't actually know what they want!. Yes, we would all love that big cliff top villa with its own private pool, but if your budget is for a 2 bedroom apartment, just look at those. Its easy to get carried away by looking at properties way over our budget but don't. Set a budget with a small amount of leeway and stick to it!

2) WHERE DO YOU WANT TO BE?
Spain is a vast country and prices vary tremendously across the regions. Costa Del Sol is the most well known area but is generally the most expensive. Inland Murcia is a great place for a villa on a large plot which can be a lot cheaper. However don't fall into the trap of trying to get the biggest property for the cheapest price. You might get a villa inland in Murcia for the price of an apartment on the Costa Del Sol, but do you want a 30 minute drive to the beach? Will anybody rent it if you need some income?. Don't be tempted by the cheapest price. Buy in the area that suits your needs and get the best property you can for your budget.

3)FIND AN INDEPENDENT LAWYER
It might sound strange but many people will buy in Spain and don't use a lawyer. Although its perfectly possible to do this and many people have no problems at all - but what happens if it goes wrong? A lawyer will cost about 1% of the purchase price, not a lot for peace of mind. a list of trusted lawyers can be found at the Spanish Property Insight website. Make sure the lawyer is independent of the builder.

4)CURRENCY EXCHANGE
It might sound obvious but Spanish properties are sold in Euros. When you have converted the price to your currency remember it can fluctuate depending on the currency markets. Use a currency exchange company. Not only will you save money on transfers fees, you will also be able to get a fixed price for your currency so you know what you will need to pay, even if its not needed for many months. Fix your currency in advance and know the price you will be paying.

5)GET A BANK GUARANTEE
If you are buying a new build property demand a bank guarantee. This will protect your money should the property not get finished by the builder. They are free and are required by law. Don't let the builder tell you you don't need it or you have to pay. It's your right - demand it!

6)BLACK MONEY
Black money or "B" money as it's known in Spain is when they buyer gives some cash to the seller and a lower price is declared on the deed. You will save a little bit of tax on the price, but when you sell you will have to pay Capital Gains tax on the difference of that lower price and your selling price unless you can find someone to give you cash. However the authorities are wise to this now and even if they just think you did this the penalties can be hefty. Don't do it and walk away from a seller who will only sell if you give black money.

7)HABITATION LICENSE
Any property new or resale should have a habitation license. It confirms that the property has received its final inspection and is in accordance with the town hall. Without it you cannot get connected to the water and electricity supplies and will be on temporary supplies until then. If it's a new build property demand your lawyer has this from the builder. If it's resale make sure the previous owners provide it. No habitation license - walk away

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