Checklist for Buying an Existing Property on Fuerteventura

checklist buying existing property:

Purchasing an existing property on Fuerteventura combines Mediterranean lifestyle with solid investment potential. Unlike new‑build projects, the value and risk profile of an existing property depend on its structural condition, legal history and location. This checklist (checklist buying existing property) guides you systematically through the ten most important inspection areas to help you make a well‑informed and secure purchase decision.

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1. Legal Status and Land Registry Extract

Request a current Nota Simple and review ownership details, encumbrances and mortgages. Ensure that all previous transfers are correctly registered and that no legal disputes are pending. Without a clean land registry extract, you should not sign any purchase agreement.

2. Building Permits and Compliance of Use

Verify that the property has a valid building permit and a Licencia de Primera Ocupación (LPO). Check the approved uses and look for any illegal extensions or changes of use. Unauthorised structures can lead to costly corrections or mandatory demolition.

3. Coastal Regulations and PGO Planning

Coastal areas are subject to specific regulations such as the Ley de Costas. Review the municipality’s Plan General de Ordenación (PGO) to identify future developments near the property. Legal restrictions can significantly affect usability and resale value.

4. Technical Condition and Moisture Assessment

Arrange a comprehensive technical inspection, including moisture measurement, crack analysis and assessment of roof, foundations and waterproofing. Saltwater exposure and humidity are common in coastal locations and can lead to high long‑term maintenance costs. An independent surveyor provides a solid basis for price negotiations.

5. Electrical, Plumbing and Heating/Cooling Systems

Check whether the electrical installation meets current standards and supports modern consumption. Inspect plumbing, hot‑water systems and any heating or air‑conditioning units. Outdated installations often require significant investment and should be factored into your budget.

6. Energy Efficiency and Modernisation Potential

Determine the current energy efficiency rating and identify potential improvements (insulation, windows, solar technology). On Fuerteventura, investments in thermal insulation and photovoltaic systems pay off in the long term. Include modernisation measures in your financial and return calculations.

7. Community Fees and Ongoing Costs

Request recent statements from the owners’ association (comunidad) and review reserves, special assessments and regular operating costs. Also consider pool, garden and security expenses as well as property tax (IBI). These OPEX items influence net returns and ongoing financial obligations.

8. Utilities, Infrastructure and Connectivity

Ensure that water, electricity and sewage connections are legally and technically compliant. Check the availability of fibre‑optic or other high‑speed internet options, especially if remote work or rental use is planned. Infrastructure deficits can lead to future costs and usage limitations.

9. Market Value, Location Analysis and Exit Strategy

Analyse local market trends, supply and demand in the micro‑location. Evaluate resale potential and target groups (long‑term tenants, holiday guests, international buyers). A clear exit strategy helps align your investment decision with expected returns and risk tolerance.

10. Contract Terms, Deposits and Safeguards

Negotiate clear contractual clauses regarding payment schedules, handover dates and liability for defects. For deposits on existing properties, a trust‑based or bank‑secured arrangement is recommended. Have all contracts reviewed by an independent, locally licensed lawyer before signing.

Conclusion and Recommended Next Steps

Buying an existing property on Fuerteventura offers attractive opportunities but requires careful assessment of technical, legal and market‑related aspects. Use this checklist as a working tool: obtain independent surveys, verify all documents and seek legal guidance. This minimises risks and protects the long‑term value of your investment.