Moving to Mallorca: Your Comprehensive Guide to Embracing Island Living
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Mallorca, a wonderful Island that offers incredibly beautiful landscapes, a relaxed lifestyle, and investment opportunities for those seeking them. Whether you're considering moving to live in a holiday paradise, for work, retirement, or if you're just tired of the routine in your home country, this guide will help you not only discover the many advantages of Mallorca but also describe the purchasing process that prevails there.
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What makes Mallorca so fantastic? Mallorca boasts idyllic landscapes characterized by pristine white beaches, stunning mountains to climb, and charming little villages. Its Mediterranean climate promises mild winters and sunny summers, making it an enticing escape from colder regions. The island's rich cultural heritage, lively festivals, and of course its diverse nature add to its undeniable charm.
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Choose the perfect location: Mallorca offers different regions, each with its unique character. From the vibrant capital city of Palma de Mallorca, with a wide range of shops, restaurants, and boutiques, to peaceful small towns like Port de Sóller and Valldemossa, each area caters to various lifestyles and preferences. Tellus Homes helps you find the right area that suits you!
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Choose your property: Owning a property in Mallorca can be a rewarding investment, with prices steadily rising over the past decade. When it comes to finding your perfect property, trust Tellus Homes to explore various options that suit your preferences and budget. On Mallorca, there are properties in all price ranges, meaning there's always a suitable option for you. In other words, Tellus Homes is happy to help you choose the right home.
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Buying a property as a foreign citizen: To buy a property in Mallorca, you essentially need a NIE-number and financing. A NIE-number is a personal tax identification number that foreigners can apply for, for instance to buy a property or to open a bank account. The process to obtain your own NIE-number is relatively simple, but of course, Tellus Homes can help you obtain one. When you're choosing a property, we also help you find the right option for you. When you're confident in the property that you want to buy, a lawyer is often engaged to review and prepare the necessary documents to complete the transaction. The most common documents that may be relevant are property deeds, "cataster reference", energy certificate, and cedula. It's also good to know whether the previous property owner has unpaid debts or loans related to the property. At this stage, it's quite common for the potential buyer to place a down payment of 10% of the purchase price.
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Once all the documents are in order, the transaction is conducted at a notary, where the buyer and seller, along with their lawyers, usually sign the contract for the property transaction. It's quite common for payment to be made by checks. An important thing to consider is that there are always taxes and fees associated with a property sale. Common extra costs include attorney fees, notary fees, costs for preparing documents and registration, and various taxes (all extra costs amount to approximately 10-15% of the purchase price). We understand that the process may seem unnecessarily complex, and it might be, but we have the solution to the problem. Let Tellus Homes handle all the bureaucracy while you focus on choosing the right property for you as a buyer.
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Additional Information about Mallorca
Healthcare: Mallorca has excellent healthcare facilities, both public and private, to ensure your well-being during your stay on the island. If you’re a citizen of EU, don’t forget to bring your European health insurance card to get full advantage. Based on our experience, most have had very positive experiences with the healthcare they received on the island.
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Embracing the island life: Mallorca's slower pace encourages a focus on well-being and relaxation. Experience the pleasure of fresh and healthy meals, as the island offers a variety of local and affordable groceries. There are also various opportunities to engage in sports and recreational activities such as yoga, cycling, and golf being among the top choices. At Tellus Homes, we understand the importance of a balanced lifestyle. While you embrace the Mallorcan way of life, let us efficiently and professionally handle your property needs.
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Transportation: Mallorca offers efficient public transportation, and parking is generally free on the island. Fuel prices are also in general more economical than in northern parts of Europe.
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Education: Mallorca has a selection of respected international schools with high educational standards. These schools cater to different programmes and ensure a quality learning experience for expat families. Prices can vary from school to school.
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Climate: Mallorca enjoys about 300 days of sunshine a year, even during the winter months, with temperatures often reaching comfortable levels. This makes Mallorca an ideal second home for those seeking relief from colder and darker climates, especially in northern regions.