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Buying a property in Morocco should be fairly straightforward. However, as you may have seen the press there can be a lot that can go wrong when buying abroad, and if you're not careful you can accrue added costs, other people's debts, and maybe worst of all become a victim of organisations who can't be trusted.
However, this is not the norm. Hundreds of thousands of people every year buy properties in foreign countries, including Morocco, without one check-up, enjoy the process and live happily ever after in a dream homes. We've put together this report to help people and give a little bit of guide especially for the newcomer. This is only a guide and is not a substitute for good professional legal advice and the financial services from a qualified professional. Whenever you buy property especially in Morocco you should always use an independent lawyer.
Make sure of your requirements
Although there's a lot of fun to browse around websites searching through extensive property lists searching for your dream property don't allow pretty pictures and fanciful descriptions to cloud your judgement. To begin with you may want to use this option to get a good idea of what is available. Make some notes as you go along as to what floats your boat, turns you on and seems like a good idea.
Once you start to get a better idea of what it is you are looking for you should sit back and think hard about exactly what it is that you want from your property. If you move in with your spouse, or your family, you might want to include them in the discussion, after all everybody has to be happy at the end of the day for a successful move to a second home, or even holiday home.
At every point along the way question yourself and your thoughts and be sure to be clear about what it is that you are looking for. One of the benefits of working in this manner is that once you know exactly you are looking for you will be in a stronger position to work with, and negotiate, with an estate agent who might be buying the property on your behalf.
The kind of things you might want to ask yourself are
Is this holiday home or, a second home? Will you be staying there just for a few weeks of the year, or a few months? If this is a holiday home you are looking for you may want to consider that if the property is left empty most of the year it requires more maintenance than just a simple sparsely furnished holiday home.
If you're going to be living there for more than a few months, or even all of the time there's even more that you need to consider to be sure you buy the perfect property. Schools if you have children, security, accessibility to shops, accessibility to the airport, language problems, neighbours, and many other considerations, many of which are probably very personal to you.
Other family members
As mentioned before, you really want to take into consideration the rest of your family. Taking public transport may not be an option for many people in Morocco and therefore may want to take these kind of thoughts into consideration if you have teenagers who like to get out and about a lot and meet friends. Schools and nurseries for the younger children and nightlife if you are young adults.
Attracted by investment opportunities
Moroccan property has become a very popular investment over the last few years and well-informed investors are doing very well out of it. However, don't be seduced and taken in by salespeople offering amazing investment opportunities and the chance to become rich through buying property in Morocco. The most important thing, if you are looking for a second home, or holiday home in Morocco, is the home of your choice will be a pleasure to live in and comfortable for you and the whole family.
Stick to your guns and stay focused on what it is you are looking for rather than being tempted by lucrative investment opportunities. At the end of the day and as far as we have seen the property prices continue to rise therefore your investment in your property will be a good one at the end of the day anyway.
Upkeep
When buying property in Morocco be sure to take in consideration maintenance costs of the property. The community charge for the general upkeep and maintenance of most Moroccan properties especially apartment blocks. Gas, electricity, taxes, etc. All increase the costs on a monthly basis. On top of these costs there can also be a management cost incurred if you were to use a company located in Morocco to look after your property, security and maintenance.
Size and type of property
Be realistic when thinking about the size of property you are going to buy. Although your friends and other relatives may be saying that they'll be coming to visit you every chance they get, the reality is often very different and therefore be careful that you don't end up buying a house, or property that is far too big for just your own requirements.
The kind of property types available are villas, flats, houses and riads. Then there is the option of buying off plan, new builds, renovations, in a resort, residential, rural, and the list of varieties goes on. There is also “Touristique” which is a buy to let type of purchase that allows you only 2-4 months access to your property per annum and the rest of the year it is rented out in a hotel fashion.
Location
Obviously most popular areas of Morocco are the large cities and coastal towns. Marrakech is a popular buy to let destination and comes with lots of culture and tradition. Tetouan is very popular as the people are so friendly it is pretty and right next to miles and miles of beautiful beaches. The Mediterranean resort of Saidia provides British style luxuries under the beautiful Moroccan sun and wonderful scenic locations not to mention the beaches the sea and the people.
Accessibility can be one of the prime factors in deciding where to live in Morocco. If you plan on visiting frequently, or have friends who want to visit frequently then choosing a property located near a port, or airport, is obviously very important.
Research, research, research
Although you may be buying a property in Morocco as a holiday home, or maybe even a second home, it is still probably the second largest investment you will make after your family home in your own country. Therefore, like any investment it is very wise to do as much research as possible before committing to buying any property.
Look into the different areas that you may want to live and research them well to be sure that they fit with your requirements. Look into the background of the company you are making the investment deal with. Check the prices compared to other companies offering the same properties in the same area. Chat to other people who live, or have maybe lived, in Morocco, or in a particular region you are interested in living.
Information is power. The more you know about the Moroccan property market, the region you are wanting to live in, the company you are dealing with, etc, the better armed you will be to negotiate for a better price and be sure that you are not being taken advantage of.
Today, with the Internet available in most homes it is much easier for people to be up to research buying property in Morocco and gather information, valuable information.
This website for example www.justgomorocco.com and the people who work here, Eli and James, can provide sage guidance at every step of a property purchase. On top of this there are forums that you can visit and chat to people from all over the world who have visited, or live in Morocco, especially those who may be living there at the moment with up-to-date information on the questions you may have www.forum.justgomorocco.com. At the end of the day the Internet puts at your fingertips hundreds of thousands of resources to research the best property you to buy.
Other options of gaining more insights into the subject of Morocco and buying property are books on the subject and exhibitions that now take place all over the UK.
Budgets and finances
A wonderful phrase to live by in business and investment is the following, “ prior, planning and preparation prevents possibly poor performance”. If you feel sure you were going to buy a property in Morocco, it's best to get your financial arrangements organised as soon as possible. The sooner you begin to organise financial arrangements the better prepared you will be when it comes to buying a house. As they say buying a house is one of the most stressful tasks you will ever need to accomplish in your life. They say that public speaking is the number one biggest fear for most people, however, I think most of you out there would appreciate that maybe moving house would list above that.
When taken into consideration your mortgage you also need to take into account ongoing expenses and commitments such as discussed earlier. Travelling backwards and forwards to Morocco is always much more expensive than people imagine. There are also extra insurance costs for both travel and medical, and many other hidden expenses which are discussed in more detail in the in-depth guide to buying property in Morocco.
Finding a good English-speaking lawyer
As with everything the more time that you have prepared the less risks you take. Whilst you were searching around for property, chatting on forums, speaking to people that you know, and making new contacts with people who may be already live in Morocco, or at least have experience, you can begin to search for a good lawyer.
Don't rely on the British Embassy in Morocco to provide you with a good list of contacts of lawyers who speak English in Morocco. Don't rely on recommendations from websites and even if it is a friend who provides personal recommendation be sure to check the integrity of the lawyer who you are about to trust with a large investment such as buying a second home in Morocco.
You will obviously need to also find an independent lawyer and one that is not connected in any way with the agency that you will be using to buy your property. So the challenge comes when you begin to look for a lawyer in Morocco who speaks Moroccan and English and you can trust. You would be ill-advised to use any in-house lawyers working for the estate agents, or developer that you are buying a house from. It would be almost impossible for any in-house lawyer not to even unconsciously have the best interests of the company they work for in front of your interests.
Start the process now finding a good English-speaking lawyer.
Selecting the right agents
Estate agents have always had a bad press in the UK and are few and far between here in Morocco. Obviously as with in any industry there are always individuals, companies and organisations who may not have the right experience, the right values, and maybe not your interests in mind.
Be very careful of estate agents who offer you the most amazing, fabulous, perfect property that will only go up in price. Don't be pushed into a purchase by an agent saying they have other people waiting to buy the same property. Take time to decide before signing on the dotted line.
Ask for their credentials, go to online forums and ask if anybody else has dealt with those agencies. If it is a small local town the agency is based in, you may even be able to ask locally whether the agency is reputable and the house you are buying is as it seems.
House hunting and inspection trips
The best way that you can look to find a property is by visiting Morocco and the region that you're interested in and walking around, or driving around to get a good feel of where it is that you would like to live. Take time to visit the local restaurants and beaches and the local shops. If you are a little bit more extrovert then you may like to chat to some of the local people.
Like with any salespeople, estate agents virtually always work on commission sales, therefore it is only human nature that they will be eager for you to buy the property that they are showing. Don't be pressured by overenthusiastic salespeople looking to turn a good commission by selling you that property.
Inspection trips, especially if they are cheap or free, normally come at a price. You will probably be one of many other buyers visiting the properties and there will be some very, very clever salespeople trying to manipulate you into buying their properties.
Once again, with today's technology you can assist yourself in the process of buying selecting, eliminating, and choosing a good property. Digital cameras allow you to take many, many photographs and it doesn't cost anything to have them printed when you or just view them on your computer screen. Many digital cameras even come with the ability to include an audio extracts of the photograph that you would take, therefore you can even add verbal notes to each of the photographs when it comes to remembering each of the property details.
Stick to your guns, don't be manipulated by hard pressure sales techniques.
Checklist
Once you have found your dream property and are ready to sign on the dotted line, there are a few points you may want to check before committing to any contract or any non-refundable down payments. You need to make sure that the person who is selling the property owns the property completely. There are a number of checks you may want to perform relating to land classification, community obligations, maintenance costs, and urban development plans.
Obviously this is all work for that excellent lawyer that you have hopefully taken the time to find. The lawyer should check all these details for you.
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