A travel journalist has bought a beachfront flat in a popular holiday destination, arguing it’s more cost-effective than renting. Karolina Wachowicz grew tired of soaring rental prices in her adopted city, Barcelona, Spain. However, when the Polish writer informed her family and friends of her intention to purchase a property, they scoffed, thinking the Spanish buying process would overwhelm her.
“If you’ve ever tried to rent a flat in Barcelona, you know the struggle,” Karolina, who originally comes from Kraków, told What’s The Jam. “After a year of paying sky-high rent and handling endless paperwork for agencies, I decided to buy my own place with a terrace.
“It turned out to be far simpler and more transparent than the chaos of renting.” In Spain, tenants typically need to provide numerous documents to legally rent a property, including their passport, employment contract, and several months’ proof of income.
Renters also need to secure a Spanish identification number for foreigners (NIE), and many agencies require interviews where potential tenants vie for the property. Karolina said: “The whole process can stretch for months, and fees are hefty.
“Agency commissions often start at between €700 and €800, plus additional deposits, typically two months’ rent, and your first rent upfront. At the moment, average rental prices are higher than ever.
“A one-bedroom apartment in central Barcelona can easily cost around €1,500 a month or more, depending on the location and standard. This was what I paid for rent before buying my place.
“But now it’s not unusual to see even higher prices.” Disenchanted with the endless renting loop, Karolina embarked on a journey to buy her own flat.
She continued: “Despite all the warnings from friends, the process turned out to be quite straightforward. I found the right property and negotiated with the agency.
“I then signed a preliminary agreement and paid a small deposit. I secured a bank mortgage – they typically ask for a 20% down payment, although some banks offer mortgages for just 10% or even 0%, depending on certain conditions.
“I also had to provide my NIE number and a work contract before finalising the purchase at the notary.” Ultimately, Karolina revealed that her flat’s price tag was just over €180,000 (£156,886).
The travel writer said that her initial outlays included a 20% down payment saved in advance and a 10% property transfer tax. She continued: “The paperwork was manageable compared to the endless files demanded for renting, and the entire process was much more efficient.
“I moved in quickly, but the apartment needed a major refresh. I invested most of my remaining savings into a complete bathroom renovation, handled painting and cleaning by myself, and found furniture at flea markets and through local second-hand groups.
“Budgeting was crucial, so I got creative, refurbishing the old terrace benches and installing affordable artificial grass on the terrace. From start to finish, purchasing was less stressful and actually faster than many rental applications.
“Even waiting for mortgage approval took less time than waiting for some agencies to respond. The renovation cost about the same as an expensive holiday, but now I have a place I can proudly call home.
“Not only because I feel good here, but also because of the work I put into it. And my monthly costs are less than half of what I would pay to rent a similar place in today’s market.”