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Top 6 tips for purchasing a holiday home in Mallorca as an investment

Top 6 tips for purchasing a holiday home in Mallorca as an investment

Mallorca is one of the most important touristic destinations on a world wide scale, and this can be seen reflected in the real estate market, being one of the main places where people from all around the world have their second residence, and great part of which are luxury. If we wish to invest in a good future plan, one of the best options is to buy a property in Mallorca, but to do that you need to have knowledge about both the market and the buyers.

In this post we wish to give you some tips of reference for buying a house in Mallorca:

  • Have a clear intention and the area controlled:

    We shouldn't look at our preferences, rather than look at the market's preferences. We need to be clear that it will be the buyer who will enjoy that property, and that's why we need to be sure of acquiring a good investment to receive the best profitability. If we calculate the PER of the property, we'll be able to make an approximation of the purchase price.

  • Have the services of a good estate agent:

    If you find a good estate agent in the area where you're looking, you'll be sure that they will know the area where the best properties are located, as well as your pre-disposition and financial power to be better adjusted to your needs.

  • Carry out a good valuation of the property:

    Before purchasing a property you need to know its real value, as well as studying the behaviour of past years, and trying to find out the same in a future short term. At Pollentia Properties we have the means to carry out an estimated valuation of the property's price, and we'll also study the area, in other words, the price of the ground, of nearby properties and the possibilities they have.

  • Knowing the property's expenses:

    Renting a house doesn't just represent a monthly price to be paid by the client to the owner, but it also includes having to pay electricity bills, gas, community fees… and this is it's best to carry out a complete study to see which would be the monthly and yearly costs our client would have. We can take care of this, because as estate agents we have experience in the sector and we can give very close estimates. If we also control our energy expenses we'll be able to find saving options which we could benefit from in the months we don't have the property rented out.

  • Make sure that everything is in order:

    In lots of cases there have been properties for sale which weren't legal in an urbanistic sense, in other words, they'd been built on un-inhabitable land. This has caused lots of problems, both to estate agents, owners and even builders. Knowing this, at Pollentia Properties we make sure that all of the properties which reach us or which we sell have a legality certificate, so that our client’s don´t come across problems afterwards, so that they can just purchase their property and enjoy its benefits.

  • We manage your property:

    At Pollentia Properties we make sure that your house is taken care of all year round. We have various trusted professionals who can maintain your house year round during the months you're not living in it, which won't devaluate its cost and will help you keep it in perfect shape in case you have to rent it by surprise at any time.