Finca. What is a finca?
A finca is a smallholding of some description in the Spanish countryside. It doesn't have to be a farm or croft-style holding to qualify as a finca. It may or may not have olive groves, and orchard or a piece of arable land beside the main property. Basically as long as it is located in between towns and villages and has some sort of useable land (not development land) it could be classed as a finca.
Why buy a finca in Spain?
So now that you know what a finca is, why would you buy one? Purchasing a finca can be a shrewd and wise move if your plan is to buy a property overseas located in the countryside. Lets say you intended to purchase a villa inland in order to save money. What if your new overseas property was a finca? It may have olive groves, a vineyard or an orchard attached. Your finca could provide a valuable income in future years if you intend to say in the property full-time and you don't mind rolling your sleeves up!
Fincas and problems with a finca.
Some problems that can occur when buying a finca in Spain are the likes of water supply. Many Spanish fincas have their own well, which needs to be checked and overlooked, whilst some are on the mains supply. The same could be said for electricity. Make sure you consider these factors before you buy your finca or any other rural overseas property. You may be responsibe for any costs involved in accessing these utilities.
Finca popularity in recent years.
Twenty or thirty years ago it was almost exclusively Spanish people that owned and operated fincas. Back then they could be bought for low amounts of money because foreign overseas property buyers only saw the disadvantages. However in recent years fincas have become much more popular and therefore their prices have increased considerably. This is even more true because of the Spanish planning laws. Older fincas in less popular areas often have an abandoned or ruined property on site which can greatly speed up permissions to either renovate the existing property or erect a new dwelling.
Fincas - a final word.
If you are considering buying a finca in Spain please remember what the property is. Don't buy a finca simply to get your hands on a huge building plot. Failing to work the land or look after the orchards or groves could not only antagonise the locals but also the local planning authority. If you are wise and not afraid of hard work you will reap the rewards of running and owning a finca in Spain.
A finca is a smallholding of some description in the Spanish countryside. It doesn't have to be a farm or croft-style holding to qualify as a finca. It may or may not have olive groves, and orchard or a piece of arable land beside the main property. Basically as long as it is located in between towns and villages and has some sort of useable land (not development land) it could be classed as a finca.
Why buy a finca in Spain?
So now that you know what a finca is, why would you buy one? Purchasing a finca can be a shrewd and wise move if your plan is to buy a property overseas located in the countryside. Lets say you intended to purchase a villa inland in order to save money. What if your new overseas property was a finca? It may have olive groves, a vineyard or an orchard attached. Your finca could provide a valuable income in future years if you intend to say in the property full-time and you don't mind rolling your sleeves up!
Fincas and problems with a finca.
Some problems that can occur when buying a finca in Spain are the likes of water supply. Many Spanish fincas have their own well, which needs to be checked and overlooked, whilst some are on the mains supply. The same could be said for electricity. Make sure you consider these factors before you buy your finca or any other rural overseas property. You may be responsibe for any costs involved in accessing these utilities.
Finca popularity in recent years.
Twenty or thirty years ago it was almost exclusively Spanish people that owned and operated fincas. Back then they could be bought for low amounts of money because foreign overseas property buyers only saw the disadvantages. However in recent years fincas have become much more popular and therefore their prices have increased considerably. This is even more true because of the Spanish planning laws. Older fincas in less popular areas often have an abandoned or ruined property on site which can greatly speed up permissions to either renovate the existing property or erect a new dwelling.
Fincas - a final word.
If you are considering buying a finca in Spain please remember what the property is. Don't buy a finca simply to get your hands on a huge building plot. Failing to work the land or look after the orchards or groves could not only antagonise the locals but also the local planning authority. If you are wise and not afraid of hard work you will reap the rewards of running and owning a finca in Spain.