Location v Property - which should you choose?

When buying property in Mallorca, prices can vary greatly depending on the location and type of property, meaning you might not always be able to find the right home for you in the right place to fit your budget. So how do you resolve this?

Perhaps you've got your heart set on a traditional property in a secluded area surrounded by mountain scenery, or a front-line property close to a town? Try to ensure you are clear in your mind what your priorities are at the start of your search, so you can make the most of your time spent viewing properties and locations. 

If you're keen on a certain type of property, you might be more restricted with the areas you can buy in. Country-style fincas with sprawling grounds are often situated in more rural areas, set a back from major towns. Likewise, older locations are most likely to offer more traditional townhouses.

Fortunately, properties in Mallorca come in a wide range of types, from modern apartments to rustic fincas, and we can help you find the right balance between type, area, layout, and size.

Another consideration when deciding on location or type of your potential property investment in Mallorca is what you'll use the property for. For example, if you are thinking of letting it out to tourists, you’ll need to make sure the property is eligible for a holiday license. Sometimes properties come with this licence already so it's worth checking when viewing.

If you don’t intend inhabiting the property all year, you'll need to consider maintenance - gardening, pool cleaning, repairs, etc. You may prefer to source  a local property management service to look after your property in your absence.

If you plan on having lots of friends and family visiting or tourists renting your property it might impact the type of property you purchase and its location. 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.

It may sound obvious, but strict budgeting will make your search less stressful and help to avoid disappointment. Experts recommend allowing 10-15% on top of the property sale price to cover applicable local taxes and fees. If you’re not sure, speak to your property lawyer who should be able to advise which extra costs apply to your sale.

As ever, always ensure you seek out the advice of fully qualified legal and property experts before you even consider buying a property in Mallorca.