1. Make Sure You Like It

Make sure you like going to the house, that you like the place, and that you believe in the area’s development. If you dislike going to the house, it will influence how you handle it.

2. Understand Everything You Can About The Property

Purchasing your first investment property in the Costa del Sol is similar to purchasing a company. You must understand where it is (location), what it can generate, in terms of income and expenses (tax, insurance, legal assistance, tenants, repairs) and who will use it.

3- Check all documents before signing

You do not need an attorney or a real estate agent to sign a deal, but if you have any concerns, you should seek the advice of a specialist. All contracts must include the start and end dates, the amount of money paid as a deposit, a summary of the property, and any penalties.

4.  Get honest advice

If you’ve found a trustworthy estate agent, they will suggest a reliable lawyer who will work with you and speaks your language.
A lawyer is essential at all stages of buying a home on the Costa del Sol, and you should consult one before making a deposit or signing any legally binding documents.

5. Partner With An Experienced Real Estate Investor

For your first transaction, it may be a good idea to team up with someone who has some years of experience. Learn as much as you can from them. Although the returns may be smaller, the risk is reduced when you have someone guiding you through the process.

6. Educate Yourself

Educate yourself on the benefits and drawbacks of investing in real estate in the Costa del Sol, and ask a lot of questions of those around you who are “experts.” Do your research and realize what you’re getting into if you want to make the most of your investment opportunity in the Costa del Sol.

7. Know What’s Best For Your Location

Determine which real estate investments are best for the location you choose in the Costa del Sol.
Some places are well suited for buy-and-hold rentals, fix-and-flip investments, turnkey investments, or long-term appreciation.
By measuring monthly property costs, after-repair value, and appreciation, you will approach your first investment property with a business mindset. These equations determine which property decision will yield the highest benefit for you.

8- Take into account other related expenses

These include property taxes, which vary according to Spanish region. Also, check if there’s a community fee, or an extraordinary community fee for a big renovation of the complex.Not only could you be on the hook for the community fee, but some homeowner associations will force you to pay for extra repairs, including renovations, water installation, road repair, and other unexpected expenses.

9. Payment Proof

You should get a receipt to prove that all the utility bills, including the ‘IBI’ have been paid up to date by the existing owner, before you buy.

10. Top tip

Find the right people to help you to ensure you get good advice from start to finish to get the best real estate investment in the Costa del Sol.