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Certain issues must be taken into account if we want to make a real estate investment. Investing in a flat to rent it can be a performance of the 9% profit, but we'll have to take into account certain criteria, make numbers and plan well before securing the outlay we need for our investment.
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Recommendations to make a good real estate investment
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The mortgage that we hire should never exceed the 40 % of our net salary.
The recommended minimum capital to start the purchase process of the 20 % from the investment.
You have to think about what use we are going to allocate the house (for rent, investment or own use).
Other keys to consider are the area, the average price per square meter, and the state of the house. For example, A home to be renovated will always be cheaper and more flexible when negotiating the sale. The same, neighborhoods on the periphery are less in demand than those in the center and therefore, the price per square meter will be lower.
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As we have said before, The best neighborhoods in Malaga to invest in housing are located on the periphery. The best areas to invest in housing are currently Camino San Rafael, that includes the sector of Cruz de Humilladero, La Union and Ortega y Gasset.
Other demanded areas to invest in Malaga are the West sector, neighborhood of Las Delicias or Avenida Europa since they are very well connected both with the coast and with the city center.
Currently, the Huelin neighborhood and the downtown area are the most demanded and sought after. The price per square meter may seem high, but it also offers greater short-term profitability if we choose to invest in vacation rentals..
The best area to live in Malaga currently as a habitual residence, is located in Ciudad Jardin, Carlinda, Civil Hospital and Camino de Suárez, that offer an affordable price and a comfortable and well-connected area.
If what you prefer is a little house near the beach, you can find it in the area of El Palo or Pedregalejo, a step away from the center of Malaga and with all the charm of a small coastal town without giving up the comforts of the city.
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Tax expenses when buying a home to invest
depending on your purchase, You will have to deal with one type of taxation or another:
If we buy a second-hand home, we will have to pay the ITP ( Transmission Tax ) which oscillates between the 6 and the 11 % the amount of the sale and will depend on the autonomous community in which you have purchased.
If, on the other hand, you decide on first-hand housing, You will have to pay VAT and Documented Legal Acts Tax or AJD which is usually between 0,5 and the 1,5 % depending on the autonomous community.
Infallible advice for a good investment
The last piece of advice we can give you is, Do not be in a hurry and think carefully about your possibilities and the purpose of the house. But that's not why you should rest on your laurels.. If you find a good opportunity, take it.! To do this, it is best to use a real estate consultant who regularly informs you of all the homes that meet your search criteria.. Remember, regular contact with your personal agent can save you a lot of money in the short and long term.
