Balcony
04-07-2012, 12:10
I was re-reading a thread about competent/incompetent estate agents, to which I subscribed a long time ago, which is now closed, but one reader made a comment "..... many potential buyers with no experience in the Canary property market simply do not understand the implications of the difference between a "residential" and a "touristic" property, even if these words are mentioned in the ads." To me, the broad difference between a residential and tourist site is quite an easy concept to understand. The actual workings sometimes leave something to be desired! Whether a residential, or tourist site each type has it's own advantages (and downsides).
I can't say just how widespread this phenonema is within the British community, but it never ceases to amaze me how little research, it would seem, some people do before they decide to buy a property (or business), whether as a resident, or non-resident. This must be the true 'sangria' effect!
I did laugh when talking with someone who said that their site was 'sort of in-between' (residential and tourist), which I can't say I've heard of....but who knows?!
Before they come to Tenerife, I would have thought, most people would (or should!) do some research on-line (dare I say on a forum?), or through some excellent books on the subject? You don't have to be so detailed as to arrive qualified to be a lawyer (though it helps and pays well), but once here there are people to ask - there are people on the sites you're looking at, maybe a pool bar. There may be a Reception area: great place to ask and a little clue that the site may well be 'touristic'.
If you're being shown around by an estate agent don't always move around at his speed, or agenda - break off and go speak to people. Or go back to the site later.
If you use an estate agent, then ask them. They should know and be able to explain the difference very easily. If they are vague, or diversionary then forget the agent! You use a lawyer when you buy...yes? Ask the lawyer and get him to check it out if he has no details of the status of a site.
The original post I quote omits that famous phrase "buyer beware". It beggars belive that people would spend weeks looking around for the best available satnav, or TV yet make a major purchase in (knowingly exaggerated!!) minutes! It's research, research, research.
I can't say just how widespread this phenonema is within the British community, but it never ceases to amaze me how little research, it would seem, some people do before they decide to buy a property (or business), whether as a resident, or non-resident. This must be the true 'sangria' effect!
I did laugh when talking with someone who said that their site was 'sort of in-between' (residential and tourist), which I can't say I've heard of....but who knows?!
Before they come to Tenerife, I would have thought, most people would (or should!) do some research on-line (dare I say on a forum?), or through some excellent books on the subject? You don't have to be so detailed as to arrive qualified to be a lawyer (though it helps and pays well), but once here there are people to ask - there are people on the sites you're looking at, maybe a pool bar. There may be a Reception area: great place to ask and a little clue that the site may well be 'touristic'.
If you're being shown around by an estate agent don't always move around at his speed, or agenda - break off and go speak to people. Or go back to the site later.
If you use an estate agent, then ask them. They should know and be able to explain the difference very easily. If they are vague, or diversionary then forget the agent! You use a lawyer when you buy...yes? Ask the lawyer and get him to check it out if he has no details of the status of a site.
The original post I quote omits that famous phrase "buyer beware". It beggars belive that people would spend weeks looking around for the best available satnav, or TV yet make a major purchase in (knowingly exaggerated!!) minutes! It's research, research, research.