buying an apartment in spain
Discussion
A few words of caution, if you are sharing a pool then be aware the heating may be turned off for most of the year as many dwellings are only used for a month during the Spanish summer break.
Spaniards can be reluctant to pay their dues until the last possible moment meaning the management will economise by neglecting the pool and vegetation etc. until the place fills up in July and August.
Break-ins are common in many areas even if there are neighbours present, thieves can empty a property silently in short order so proper security is a must.
There are mega bargains to be had though, it is a buyers market.
It can get very cold at night even when days are bright and sunny so a property with decent heating is a bonus.
Spaniards can be reluctant to pay their dues until the last possible moment meaning the management will economise by neglecting the pool and vegetation etc. until the place fills up in July and August.
Break-ins are common in many areas even if there are neighbours present, thieves can empty a property silently in short order so proper security is a must.
There are mega bargains to be had though, it is a buyers market.
It can get very cold at night even when days are bright and sunny so a property with decent heating is a bonus.
Thankyou4calling said:
What an excellent post from TK.
It reminds me of how PH used to be, a huge variety of quality opinions where you could gain some really useful info.
Now, largely populated by argumentative types or idiots.
Thank you! Very kind It reminds me of how PH used to be, a huge variety of quality opinions where you could gain some really useful info.
Now, largely populated by argumentative types or idiots.
My view is that if I see a thread where I can add something, and I’m going to the effort of responding, I’ll give it a proper go. I might not be always right but I’ll try to be reasoned. I too like reading threads and learning something new where people have put some energy into replying - unfortunately like you say, most of the forum these days is just full of people trying to be witty with one liners or dismissive retorts. I tend to stick to the areas where genuine enthusiasts are contributing like the Boats, Planes etc thread or ones like this where the OP is asking a good question and you know a response is worth your while! Life is short. If you’re going to do something, even something micro in the scheme of things like write on a forum, then contribute properly is my thought process.
OP - good luck in your hunt!
tigerkoi said:
Thank you! Very kind
My view is that if I see a thread where I can add something, and I’m going to the effort of responding, I’ll give it a proper go. I might not be always right but I’ll try to be reasoned. I too like reading threads and learning something new where people have put some energy into replying - unfortunately like you say, most of the forum these days is just full of people trying to be witty with one liners or dismissive retorts. I tend to stick to the areas where genuine enthusiasts are contributing like the Boats, Planes etc thread or ones like this where the OP is asking a good question and you know a response is worth your while! Life is short. If you’re going to do something, even something micro in the scheme of things like write on a forum, then contribute properly is my thought process.
OP - good luck in your hunt!
thanks TK. spot on contributions!My view is that if I see a thread where I can add something, and I’m going to the effort of responding, I’ll give it a proper go. I might not be always right but I’ll try to be reasoned. I too like reading threads and learning something new where people have put some energy into replying - unfortunately like you say, most of the forum these days is just full of people trying to be witty with one liners or dismissive retorts. I tend to stick to the areas where genuine enthusiasts are contributing like the Boats, Planes etc thread or ones like this where the OP is asking a good question and you know a response is worth your while! Life is short. If you’re going to do something, even something micro in the scheme of things like write on a forum, then contribute properly is my thought process.
OP - good luck in your hunt!
I'm just in the middle of this process too.
I made a few contacts with estate agents initially using Rightmove. Then went to the Place in the Sun show in september. I've never watched the TV show but the people you meet at these shows are very useful so I had a bag full of contacts to chase when I got home.
I initially used an intermediary called Salamanca Spanish Villas and they hooked me up directly with an english solicitor, decent estate agent and got me connected to a bank (sabadell). I then flew over to Mallorca with Mrs B and we spent 4 days in our chosen resort generally rummaging about. We saw 3 different estate agents and they were all great and the language wasn't a problem at all. I also popped into the bank and within 15 minutes my account was activated. Sabadell thus far have been very good at answering little queries via email so thats all going well. I've made my own currency transfer arrangements so thats all done and the estate agent has hooked me up with an english mortgage broker whose got me a 2.4% deal fixed for 20 years but with about €4000 fees up front (€900 broker, €1400 mortgage deed and then notary fees and something else).
Anyway, we made an offer, it was accepted but the vendors wouldn't sign the option contract terms I'd proposed (I wanted to be able to back out if the house survey had serious issues). Since then the solicitors have found out that the top floor loft conversion did n't get planning so it was never registered with the land registry and also the ground floor has all been knocked through and extended without permission or structural calcs so I was awaiting feedback from an architect to see what could be corrected. The other downer on the whole thing right now is that the estate agent arranged for an architect to do the survey (not a RICS surveyor as you'd use in the UK) and also, it turns out the estate agent is asking my solicitor to carry on prepping the contract. I've told them all to stop. I'm backing out and we're going back week tuesday to start over. New estate agent, more "original" property and I'll call the surveyor myself. There are decent english RICS surveyors out there.
Once thats sorted, hopefully the solicitor will have sorted my NIE for me (about £150).
In terms of costs - House price is negotiable (down by up to 10% of asking if you're lucky? area dependent), then you pay stamp duty at 8% in Mallorca (but varies with region), surveyor fees (€500-1000?), solicitor €2000+VAT, €700 for a notary and then another €1000? for land registry I think??? Roughly speaking 10-11% above sale price?
I made a few contacts with estate agents initially using Rightmove. Then went to the Place in the Sun show in september. I've never watched the TV show but the people you meet at these shows are very useful so I had a bag full of contacts to chase when I got home.
I initially used an intermediary called Salamanca Spanish Villas and they hooked me up directly with an english solicitor, decent estate agent and got me connected to a bank (sabadell). I then flew over to Mallorca with Mrs B and we spent 4 days in our chosen resort generally rummaging about. We saw 3 different estate agents and they were all great and the language wasn't a problem at all. I also popped into the bank and within 15 minutes my account was activated. Sabadell thus far have been very good at answering little queries via email so thats all going well. I've made my own currency transfer arrangements so thats all done and the estate agent has hooked me up with an english mortgage broker whose got me a 2.4% deal fixed for 20 years but with about €4000 fees up front (€900 broker, €1400 mortgage deed and then notary fees and something else).
Anyway, we made an offer, it was accepted but the vendors wouldn't sign the option contract terms I'd proposed (I wanted to be able to back out if the house survey had serious issues). Since then the solicitors have found out that the top floor loft conversion did n't get planning so it was never registered with the land registry and also the ground floor has all been knocked through and extended without permission or structural calcs so I was awaiting feedback from an architect to see what could be corrected. The other downer on the whole thing right now is that the estate agent arranged for an architect to do the survey (not a RICS surveyor as you'd use in the UK) and also, it turns out the estate agent is asking my solicitor to carry on prepping the contract. I've told them all to stop. I'm backing out and we're going back week tuesday to start over. New estate agent, more "original" property and I'll call the surveyor myself. There are decent english RICS surveyors out there.
Once thats sorted, hopefully the solicitor will have sorted my NIE for me (about £150).
In terms of costs - House price is negotiable (down by up to 10% of asking if you're lucky? area dependent), then you pay stamp duty at 8% in Mallorca (but varies with region), surveyor fees (€500-1000?), solicitor €2000+VAT, €700 for a notary and then another €1000? for land registry I think??? Roughly speaking 10-11% above sale price?
This website is the main one used for listing properties for sale - https://www.idealista.com - You can change the language to English.
Generally the banks have their own estate agency. Banco Sabadell has been mentioned - theirs is https://www.solvia.es/ but really you can find everything you need on Idealita.
We bought a bank repossession from Sabadell / Solvia a couple of years ago near Alicante City. The process was more or less simple but a little different than buying as a normal sale.
Allow 15% over the sale price for Stamp Duty and fees in this area. Don't forget to calculate monthly community fees / council tax / rubbish collect and also the cost to reconnect utilities if the house is empty.
As another posters mentioned, heating and aircon is a must - generally the houses are not insulated.
Our house was built in 2007 right at the peak of the boom when they were throwing houses up. I have since discovered epic bodges.
I would say local knowledge is invaluable - if you need any help in this area, let me know............my wife now works with Solvia!
Generally the banks have their own estate agency. Banco Sabadell has been mentioned - theirs is https://www.solvia.es/ but really you can find everything you need on Idealita.
We bought a bank repossession from Sabadell / Solvia a couple of years ago near Alicante City. The process was more or less simple but a little different than buying as a normal sale.
Allow 15% over the sale price for Stamp Duty and fees in this area. Don't forget to calculate monthly community fees / council tax / rubbish collect and also the cost to reconnect utilities if the house is empty.
As another posters mentioned, heating and aircon is a must - generally the houses are not insulated.
Our house was built in 2007 right at the peak of the boom when they were throwing houses up. I have since discovered epic bodges.
I would say local knowledge is invaluable - if you need any help in this area, let me know............my wife now works with Solvia!
Very useful stuff as we are going over to Tenerife in early March to have a look around with the view of buying an apartment.
We have friends who bought last year and will be looking in the same development so they should give up pointers.
I know there's 6.5% fee added to sale price in Tenerife plus solicitors fees and what ever surveys you have done.
We have friends who bought last year and will be looking in the same development so they should give up pointers.
I know there's 6.5% fee added to sale price in Tenerife plus solicitors fees and what ever surveys you have done.
On a side note - If any of you currently have or had a mortgage in Spain it is possible to sue the bank to recover some or all of the costs involved in setting up the loan.
The high court has ruled that the bank should foot the bill or part of it as it is in their interest. My Lawyer thinks I should have a refund of about 6,000....
The high court has ruled that the bank should foot the bill or part of it as it is in their interest. My Lawyer thinks I should have a refund of about 6,000....
kev b said:
A few words of caution, if you are sharing a pool then be aware the heating may be turned off for most of the year as many dwellings are only used for a month during the Spanish summer...
Hi kev,You raise some fair points, however I’d add that it’s really the quality and firm management of each estate that dictates some of this stuff. In the well run, often pricier, compounds, all year round facilities staff who mow the lawn and tend to the pool is a given. There’s no compromise on this. And of course everything tends to be set by the president or association managers who speak to all the residents and agree what is to be done, who pays what etc.
Initially we did think of fincas/villas set in their own space with their own plots of land. But the more we thought about it, the more we were attracted to a house within a well maintained compound. Security was high on our minds. But most of these places have high walls and you’d have to be the most tenacious burglar to get into the compound. Yes, a lot of neighbours are foreign but they don’t all come and leave at the same time. So there’s pretty much 50-60% occupancy all year round. The Spanish that do live in the nicer compounds tend to be well-to-do Madrilenos who have these as second or third homes. Local Spanish rarely live in the estate/compounds and are more likely to be firmly in the town centres.
On top of that, if individuals don’t pay their communal bills, then it has zero impact on the rest of us. Because they have entered into a contract, then they will be taken to court and that money recouped. Every month we receive a detailed breakdown of costs incurred, AGM requests, schedules for repainting of xy&z and most intriguingly people named and shamed who owe money to the association and their due date in court. There aren’t many thankfully and they’re obviously people who are struggling with wider financial issues, but in the well run estates, this stuff is taken seriously, everything runs like clockwork, the pool is on all year round because the residents voted as such (
) and transgressors are penalised for the sake of the community. Short story: every month all residents in our compound get the monthly update from the President. One month we were all notified that in one of the underground car parking bays (which are kept spick and span) someone had left a sofa and two chairs in one bay. The President reminded us all that the car park was for cars only and whoever had left the items there had one week to move the items to inside their property or utilise the individual locked storage facilities that we all had. One week later, on the dot, nothing had happened and the sofa and two chairs were thrown out and picked up by the rubbish men outside the main gates. Now, personally, I like that. Clean, tidy, secure and maintained community where we all live by agreed rules so that everything is as harmonious as you can hope for.
Bobley said:
I'm just in the middle of this process too.
...we're going back week tuesday to start over....
In terms of costs - House price is negotiable (down by up to 10% of asking if you're lucky? area dependent), then you pay stamp duty at 8% in Mallorca (but varies with region), surveyor fees (€500-1000?), solicitor €2000+VAT, €700 for a notary and then another €1000? for land registry I think??? Roughly speaking 10-11% above sale price?
Hi Bobley, I had forgotten about the breakdown in costs, and all these sound spot on. Sabadell like you say are dead easy to work with, too. ...we're going back week tuesday to start over....
In terms of costs - House price is negotiable (down by up to 10% of asking if you're lucky? area dependent), then you pay stamp duty at 8% in Mallorca (but varies with region), surveyor fees (€500-1000?), solicitor €2000+VAT, €700 for a notary and then another €1000? for land registry I think??? Roughly speaking 10-11% above sale price?
You also reminded me something about the notary and lawyer point. Everyone we used was in Spain, however to accord our lawyers in Malaga power of attorney we had to engage a notary in the U.K. to do the standard verification of who we were and then reaffirm that back to the lawyers in Spain. All normal but something I’d forgotten, and maybe relevant to the OP.
A villa in Mallorca? Very nice. Sorry to hear of your initial challenges but your option contract terms was a smart move. We ourselves bought something that was fairly uniform and nothing obviously amended as compared to our neighbours, but for many other properties you’ve got to cover yourself and check that things were done correctly.
Best of luck in getting what you want. Mallorca is stunning.
Jag_NE said:
Stephanie Plum said:
Where in Spain?
south, somewhere with cheap flight connections from the UK. Does region affect matters?Bang in the middle of Murcia and Alicante so flights all year round. Not sure on the prices for Malaga but I think further up the coast is a little cheaper. Alicante is a very nice place to visit and you can head further up (2hrs) to Valencia which is stunning.
Challo said:
If your open to area's the girlfriends parents moved out to Ciudad Quesada a few years ago. I wouldn't recommend there bit as its a bit inland and quite alot of people are ex-pats, but along the coast is very nice.
Bang in the middle of Murcia and Alicante so flights all year round. Not sure on the prices for Malaga but I think further up the coast is a little cheaper. Alicante is a very nice place to visit and you can head further up (2hrs) to Valencia which is stunning.
This is where I am looking - Ciudad Quesada has popped up, as has Pilar De La Horadada and San Javier itself.Bang in the middle of Murcia and Alicante so flights all year round. Not sure on the prices for Malaga but I think further up the coast is a little cheaper. Alicante is a very nice place to visit and you can head further up (2hrs) to Valencia which is stunning.
Murcia airport is nicely accessible and easy to commute back and forward to a plethora of UK regional airports as I shall be doing (although Murcia airport is due to 'relocate' to Corvera in the next few years in case that is a factor).
I do enjoy malaga and was in marbella 3 times in the last 3 or so months but property is 2/3 times the price and I simply cannot see any more value, other than perhaps being less difficult to dispose of when the time comes and perhaps more market-resistant than outside of that region.
As well as some value and decent sun (I was in Barcelona 2 weeks before xmas and Marbella the week after - there was 10 degrees difference or more between the two), I want to make the journey back and forward as seamless as possible. I have started to get used to what days and times work better than other but wanted ease of transport at both ends, hopefully no requirement for airport parking and a few local bars and culture.
tigerkoi said:
The knowledge I can bowl over at nearly anytime with little more than my iPad, passport, keys and wallet to a place in the sun in an evening and get away from the grey skies, toxic daily news, roads full of crazy kids in Audi S3s and everything else that weighs a good citizen down, is extremely refreshing. And before you plonk yourself down on the sofa and switch on the TV with a finger of Talisker, you pull the sliding doors open and either hear the sea, crickets chirping or the water sprinklers in the distance, and other pressures just melt away.
This is exactly my plan. Refreshing to read as well unlike the expat forums full of horror stories and attempts to put you off.I know what I want both in the UK and in Spain and I want to be able to swiftly and cheaply swing from one to the other depending on work and social commitments, seasons of the year and just because I can.
I would consider visiting where you plan to buy, out of season. This can fundamentally affect facilities. A year round destination like Ronda is attractive but equally, the higher you go in Spain, the colder it gets, it's not just a north-south thing and sun on the coast does not rule out snow in Granada.
Additionally, in winter, many resorts practically close and tumbleweed blows through the streets and some don't even have Sunday opening for supermarkets.
I would also price flights to find the cheapest average. For example, for me, the cheapest flights are to Barcelona (by Vueling) and Madrid is more variable and far more expensive in the summer. Obviously, you'll offset property prices dependent on location.
One other consideration is whether an apartment in the Canaries might be available for your budget because, although they are 4 hours away, flights are plentiful and often cheap (£100 return in December for an end of January Easyjet flight) and the overall weather is better. If you're [planning on renting, you'll also maximise your rentals.
Additionally, in winter, many resorts practically close and tumbleweed blows through the streets and some don't even have Sunday opening for supermarkets.
I would also price flights to find the cheapest average. For example, for me, the cheapest flights are to Barcelona (by Vueling) and Madrid is more variable and far more expensive in the summer. Obviously, you'll offset property prices dependent on location.
One other consideration is whether an apartment in the Canaries might be available for your budget because, although they are 4 hours away, flights are plentiful and often cheap (£100 return in December for an end of January Easyjet flight) and the overall weather is better. If you're [planning on renting, you'll also maximise your rentals.
Shnozz said:
tigerkoi said:
The knowledge I can bowl over at nearly anytime with little more than my iPad, passport, keys and wallet to a place in the sun in an evening and get away from the grey skies, toxic daily news, roads full of crazy kids in Audi S3s and everything else that weighs a good citizen down, is extremely refreshing. And before you plonk yourself down on the sofa and switch on the TV with a finger of Talisker, you pull the sliding doors open and either hear the sea, crickets chirping or the water sprinklers in the distance, and other pressures just melt away.
This is exactly my plan. Refreshing to read as well unlike the expat forums full of horror stories and attempts to put you off.I know what I want both in the UK and in Spain and I want to be able to swiftly and cheaply swing from one to the other depending on work and social commitments, seasons of the year and just because I can.
It’s part of a wider jigsaw for us, and for family reasons the next puzzle piece will likely be across the Atlantic. We think zipping between homes is manageable. London the family base, Andalusia the rapid transit getaway, and then the new place as something that we slowly migrate towards over the next 10+yrs. I’m sure we’ll always find time for a nice weeks break somewhere new and exotic too!
You only live once - make the most of it. Good luck.
Edited by tigerkoi on Monday 8th January 19:50
tigerkoi said:
Based on your criteria you’ve outlined in later posts....
Think of the Malaga region. Malaga airport is the second busiest in Spain and carries regular flights from many airports in the UK. If you’re SE-based, you’ve got the choice of flying from Gatwick, Stansted, Heathrow, Luton and City, through all seasons and with many operators.
You have Malaga the region, of which there is the city proper, and between it and Marbella, there are a number of ‘urbanizacions’ in between, all served wonderfully by the AP-7 or A-7 trunk roads. Malaga is a great city, slighter less population than Marbella, but culturally greater (imo). There’s Fuengirola, Torremolinos, etc etc. The slightly smaller towns like Mijas and Calahonda are generally quieter, with a wide range of housing stock, suiting most price ranges and sliding from the beach to the rising mountainsides. Golf courses everywhere, sun in late November even, served by a large airport, you can see why it’s a great pick.
In terms of the mechanics of a deal, I tend to see two sensible ways of going about it. One, get in touch with someone like Taylor Wimpey Spain. They, and companies like them are constantly developing new plots, and a phone call to an agent will quickly lend itself to them organising an itinerary around when you want to visit and what you want to see. Someone will pick you up from a hotel and drive you to the various sites and look after you. But this is new build.
I’d wanted us to acquire another property in the States to jolly off too whenever we felt like it, but was (happily, wisely) overruled by my wife. She wanted something that she could leave Docklands with a small bag, hit LCY Thursday evening and be in another home in around 3 hours (incl. picking up a car from the airport etc, door to door). She chose Malaga. I tagged along.
The second option revolved around us taking tentative looks on things like Zoopla, then booking a flight out after we got in touch with estate agents in the region from the contacts listed. They (an English lady who’d lived in the region for 15 years) picked us up from our hotel and over three days was driven around 15+ properties that she had sent details on prior. She then watered and fed us at coffee and restaurants along the way, teasing out more on our feelings on the various properties, red lines etc. We were going to have lunch at Nikki Beach one day but I had a headache and didn’t fancy all the loud music.
During the visit, she then helped us understand the rest of it: she gave us recommendations for lawyers based in Malaga who regularly handled foreign buyers. We chose one and they all mainly do the same thing. They, via power of attorney - to save you flying back and forth - get all the relevant documentation in place for you to buy. You need a police record (NIE), and other bits and bobs. Through email, painlessly as my wife found out, they handled everything. They spoke multiple languages so painless. They asked a few questions, required certain documents and just got on with it. They do all the land checks, ownership confirmation etc etc. You can’t buy a Jesus Gil dud if you let the pros do it properly.
Whether you need mortgage funding or not, as I understand you’ll need a Spanish bank account. Once again our agent gave us names of key contacts for whichever bank we preferred. Sabadell, Santander, the various caixas. We sat down for a brief interview with a senior manager (who also dropped us off in her car to meet our agent for more site visits) and handed over documents that we had been prepped in advance to bring over. Your bank account will be required to pay local taxes and utility bills etc. That’s how it works. Of course if you want a mortgage you’ll have the conversation there and then. For non-resident foreign buyers I hear it’s something like 30% that you need to find for deposit. Think with fees etc you’ll be looking at another 5-10%.
All in, we flew over once, saw stacks of properties in a short timeframe, got ferried around, had a network of contacts behind the scenes who knew each other, and worked together (but not linked formally to each other’s business) so kinks ironed out, hit the beach and restaurants to relax, and flew back. Everything was sorted for us and my wife flew over when the keys were at the lawyers and everything signed, done and dusted.
Honestly it was way easier than I expected, but we went with reputable and creditable names. My real participation was transferring cash as told to by my wife. She looked up the best and most cost effective money transfer sites that saved us a lot.
There’s a third way I suppose. Go there by yourself, look in some estate agent windows and piece together the whole process yourself and probably bugger the whole thing up introducing a lot of tedium into your life.
About Brexit. I ignore comments like that. If you have the funds and can afford it then go for it. Prices seem to be stable and actually moving up in some areas simply because British, especially in the classier areas aren’t the big buyers. From across Europe you are more likely to have Belgium, Dutch, German etc buyers contending.They aren’t bothered and they’re hoovering up. And if you’re looking for something in the €500k-1m range then Russians and middle eastern buyers are also starting to contend.
The area is chock full of eating, sports, shopping options. For instance just outside Fuengirola you’ve got enormous shopping malls like Miramar with Decathlon, Carrefour and the like, so you can buy your favourite jamon, Rioja, Patek Philippe or ride-on lawnmower - whatever you need. It’s like being at home. But if you want the monk-like solitary experience, then the region has lots of choice to take you away from the busier areas.
I still want to pick up something in the US. My wife is dead set against Florida as she thinks it’s coast to coast full of alligators. I quite like Arizona but flights from the UK tend to be harder. Tucson for instance is a real ball ache. I once flew to Houston from LHR, then had to go to Denver to connect back down to Tucson. I ended travelling for 24hrs all in. But it’s a beautiful place when you get there. Once again my wife thinks it’s all Sicario issues there, so California is the next project and least political between us. I just want a nice climate so owning a classic car won’t get rusty.
Buying abroad, buying in Spain, is relatively straightforward if a) your affairs are straightforward, b)funds either in hand or to be secured via mortgage is no issue due to your financial situation and c) you use people who can walk you through the process, join the dots and can trust because they work for credible outfits.
Go for it. The knowledge I can bowl over at nearly anytime with little more than my iPad, passport, keys and wallet to a place in the sun in an evening and get away from the grey skies, toxic daily news, roads full of crazy kids in Audi S3s and everything else that weighs a good citizen down, is extremely refreshing. And before you plonk yourself down on the sofa and switch on the TV with a finger of Talisker, you pull the sliding doors open and either hear the sea, crickets chirping or the water sprinklers in the distance, and other pressures just melt away.
Money well spent.
Happy to answer any other questions.
this this and this againThink of the Malaga region. Malaga airport is the second busiest in Spain and carries regular flights from many airports in the UK. If you’re SE-based, you’ve got the choice of flying from Gatwick, Stansted, Heathrow, Luton and City, through all seasons and with many operators.
You have Malaga the region, of which there is the city proper, and between it and Marbella, there are a number of ‘urbanizacions’ in between, all served wonderfully by the AP-7 or A-7 trunk roads. Malaga is a great city, slighter less population than Marbella, but culturally greater (imo). There’s Fuengirola, Torremolinos, etc etc. The slightly smaller towns like Mijas and Calahonda are generally quieter, with a wide range of housing stock, suiting most price ranges and sliding from the beach to the rising mountainsides. Golf courses everywhere, sun in late November even, served by a large airport, you can see why it’s a great pick.
In terms of the mechanics of a deal, I tend to see two sensible ways of going about it. One, get in touch with someone like Taylor Wimpey Spain. They, and companies like them are constantly developing new plots, and a phone call to an agent will quickly lend itself to them organising an itinerary around when you want to visit and what you want to see. Someone will pick you up from a hotel and drive you to the various sites and look after you. But this is new build.
I’d wanted us to acquire another property in the States to jolly off too whenever we felt like it, but was (happily, wisely) overruled by my wife. She wanted something that she could leave Docklands with a small bag, hit LCY Thursday evening and be in another home in around 3 hours (incl. picking up a car from the airport etc, door to door). She chose Malaga. I tagged along.
The second option revolved around us taking tentative looks on things like Zoopla, then booking a flight out after we got in touch with estate agents in the region from the contacts listed. They (an English lady who’d lived in the region for 15 years) picked us up from our hotel and over three days was driven around 15+ properties that she had sent details on prior. She then watered and fed us at coffee and restaurants along the way, teasing out more on our feelings on the various properties, red lines etc. We were going to have lunch at Nikki Beach one day but I had a headache and didn’t fancy all the loud music.
During the visit, she then helped us understand the rest of it: she gave us recommendations for lawyers based in Malaga who regularly handled foreign buyers. We chose one and they all mainly do the same thing. They, via power of attorney - to save you flying back and forth - get all the relevant documentation in place for you to buy. You need a police record (NIE), and other bits and bobs. Through email, painlessly as my wife found out, they handled everything. They spoke multiple languages so painless. They asked a few questions, required certain documents and just got on with it. They do all the land checks, ownership confirmation etc etc. You can’t buy a Jesus Gil dud if you let the pros do it properly.
Whether you need mortgage funding or not, as I understand you’ll need a Spanish bank account. Once again our agent gave us names of key contacts for whichever bank we preferred. Sabadell, Santander, the various caixas. We sat down for a brief interview with a senior manager (who also dropped us off in her car to meet our agent for more site visits) and handed over documents that we had been prepped in advance to bring over. Your bank account will be required to pay local taxes and utility bills etc. That’s how it works. Of course if you want a mortgage you’ll have the conversation there and then. For non-resident foreign buyers I hear it’s something like 30% that you need to find for deposit. Think with fees etc you’ll be looking at another 5-10%.
All in, we flew over once, saw stacks of properties in a short timeframe, got ferried around, had a network of contacts behind the scenes who knew each other, and worked together (but not linked formally to each other’s business) so kinks ironed out, hit the beach and restaurants to relax, and flew back. Everything was sorted for us and my wife flew over when the keys were at the lawyers and everything signed, done and dusted.
Honestly it was way easier than I expected, but we went with reputable and creditable names. My real participation was transferring cash as told to by my wife. She looked up the best and most cost effective money transfer sites that saved us a lot.
There’s a third way I suppose. Go there by yourself, look in some estate agent windows and piece together the whole process yourself and probably bugger the whole thing up introducing a lot of tedium into your life.
About Brexit. I ignore comments like that. If you have the funds and can afford it then go for it. Prices seem to be stable and actually moving up in some areas simply because British, especially in the classier areas aren’t the big buyers. From across Europe you are more likely to have Belgium, Dutch, German etc buyers contending.They aren’t bothered and they’re hoovering up. And if you’re looking for something in the €500k-1m range then Russians and middle eastern buyers are also starting to contend.
The area is chock full of eating, sports, shopping options. For instance just outside Fuengirola you’ve got enormous shopping malls like Miramar with Decathlon, Carrefour and the like, so you can buy your favourite jamon, Rioja, Patek Philippe or ride-on lawnmower - whatever you need. It’s like being at home. But if you want the monk-like solitary experience, then the region has lots of choice to take you away from the busier areas.
I still want to pick up something in the US. My wife is dead set against Florida as she thinks it’s coast to coast full of alligators. I quite like Arizona but flights from the UK tend to be harder. Tucson for instance is a real ball ache. I once flew to Houston from LHR, then had to go to Denver to connect back down to Tucson. I ended travelling for 24hrs all in. But it’s a beautiful place when you get there. Once again my wife thinks it’s all Sicario issues there, so California is the next project and least political between us. I just want a nice climate so owning a classic car won’t get rusty.
Buying abroad, buying in Spain, is relatively straightforward if a) your affairs are straightforward, b)funds either in hand or to be secured via mortgage is no issue due to your financial situation and c) you use people who can walk you through the process, join the dots and can trust because they work for credible outfits.
Go for it. The knowledge I can bowl over at nearly anytime with little more than my iPad, passport, keys and wallet to a place in the sun in an evening and get away from the grey skies, toxic daily news, roads full of crazy kids in Audi S3s and everything else that weighs a good citizen down, is extremely refreshing. And before you plonk yourself down on the sofa and switch on the TV with a finger of Talisker, you pull the sliding doors open and either hear the sea, crickets chirping or the water sprinklers in the distance, and other pressures just melt away.
Money well spent.
Happy to answer any other questions.
we doing exactly the same and in process of completion
buying in mazarron
happie33 said:
this this and this again
we doing exactly the same and in process of completion
buying in mazarron
Mazarrón, very nice! Are you inland or port side? Only briefly stopped there as we drove up to Torrevieja once, but in the short time we were there thought it had less hubbub than Malaga region. we doing exactly the same and in process of completion
buying in mazarron
Heard that a lot of the coastline and the coves are pretty unspoilt which must be great.
As an aside further up the coast I thought Mar Menor was one of the weirdest geographical things I’ve ever seen. This huge lagoon with that tiny strip fending off the sea. Bizarre! But along with Cartagena, a really great region. Lots to see and do.
We bought a Taylor Wimpey new build in the Costa Blanca just over two years ago and it's one of the best moves we ever made. Costwise, on a new build you are looking at property cost + 12-15% in taxes and fees. We go over throughout the year and it's essential to have decent heating for the winter and cooling for the summer. The houses are very cold, my daughter is out on the terrace at the moment, I'm inside with the heating on. Make sure you pay attention to your outside space, you will be spending a lot of time out there. Also, property orientation. We went for south facing and haven't regretted it. Yes, it's hotter in the summer but you can always provide shade but in the winter its a godsend. Sun on the terrace from ~09:30 - 16:30 most days. We also bought a car rather than the stress of dealing with hire car pickup and drop off. Once you are sorted you can travel back and forwards with nothing more than handbag, wife, and man bag, for my laptop. It basically becomes a second home.
tigerkoi said:
Shnozz said:
tigerkoi said:
The knowledge I can bowl over at nearly anytime with little more than my iPad, passport, keys and wallet to a place in the sun in an evening and get away from the grey skies, toxic daily news, roads full of crazy kids in Audi S3s and everything else that weighs a good citizen down, is extremely refreshing. And before you plonk yourself down on the sofa and switch on the TV with a finger of Talisker, you pull the sliding doors open and either hear the sea, crickets chirping or the water sprinklers in the distance, and other pressures just melt away.
This is exactly my plan. Refreshing to read as well unlike the expat forums full of horror stories and attempts to put you off.I know what I want both in the UK and in Spain and I want to be able to swiftly and cheaply swing from one to the other depending on work and social commitments, seasons of the year and just because I can.
It’s part of a wider jigsaw for us, and for family reasons the next puzzle piece will likely be across the Atlantic. We think zipping between homes is manageable. London the family base, Andalusia the rapid transit getaway, and then the new place as something that we slowly migrate towards over the next 10+yrs. I’m sure we’ll always find time for a nice weeks break somewhere new and exotic too!
You only live once - make the most of it. Good luck.
Edited by tigerkoi on Monday 8th January 19:50
I have business commitments in the North and South of the UK so the idea of having good regional accessibility is a key component. I am also <40 years old so don't want to be the ex-pat mobility scooter brigade and want to be able to split time between city life in the UK and a relaxed life in Spain yet somewhere with a few bars and restaurants within walking distance (and for security reasons as previously outlined in this thread).
Ideally a 3 - 4 bed townhouse (with PH suitable large underground garage) would be ideal. Mid-terrace I am happy with, again for security reasons and also more inkeeping with my budget. A multi-storey place with garage underbuild and a roof terrace with minimal outside ground and low maintenance is the aim. 3 bed would probably do it but that is a minimum as I shall need an office at the property.
Ideally I want public transport links or a cheap taxi to the airport to avoid having the hassle of having car parking each time. I have spent the last few years trialling the "commute" to various regions to iron out creases and determine whether the plan is pie in the sky. Certain times of the week certainly seem less intrusive to my work and are little change from what I might otherwise be doing (a Sunday evening sat in a taxi/premier lounge with a G&T, reading a book or doing a bit of work is no different to doing so at UK home on the sofa).
My concerns, some of which are personal to me I appreciate, are the following:-
1. Change of personal circumstances (mainly if I ever needed to go PAYE and have a normal job)
2. Ability to liquidate property (either due to the above or otherwise - Spanish property is not one for "investment" IMO but as well as not envisaging much or any appreciation, my concern is whether you can sell at all within a reasonable period of time).
3. Buying in the wrong area (and then point 2 applying...)
4. Unfamiliarity with purchase process (you have done much to quash this)
5. Changes to law in Spain (or the UK) to penalise ownership
6. Hassle-factor leading to lack of value in terms of use (minimisation of hassle hoping to erode that risk)
7. Hassle-factor "changing" after purchase - ie Murcia airport moving location/another Monarch collapse reducing flight patterns/airport being "dropped" from cheap/regular flight pattern
Thankfully I see hundreds of positives to outweigh these but realistically my aim is to diminish the risk or be cautious of it to try and make a safer decision.
Ideally hoping for an all-cash purchase (also possibly even dictated due to anticipated mortgage issues due to nature of my employment etc). With that in mind, I am hoping I can push for a very good deal. In that regard, would you think aiming for a bank owned repossession may see the greatest chance of a deal? Being a cash buyer I will likely not see such opportunity again to drive a bargain so am very keen to use it to my advantage especially after such a torrid period for Spanish property prices.
Edited by Shnozz on Tuesday 9th January 12:44
murray said:
We bought a Taylor Wimpey new build in the Costa Blanca just over two years ago and it's one of the best moves we ever made. Costwise, on a new build you are looking at property cost + 12-15% in taxes and fees. We go over throughout the year and it's essential to have decent heating for the winter and cooling for the summer. The houses are very cold, my daughter is out on the terrace at the moment, I'm inside with the heating on. Make sure you pay attention to your outside space, you will be spending a lot of time out there. Also, property orientation. We went for south facing and haven't regretted it. Yes, it's hotter in the summer but you can always provide shade but in the winter its a godsend. Sun on the terrace from ~09:30 - 16:30 most days. We also bought a car rather than the stress of dealing with hire car pickup and drop off. Once you are sorted you can travel back and forwards with nothing more than handbag, wife, and man bag, for my laptop. It basically becomes a second home.
Actually, this is another point that I have been conscious of - heating. Especially as I will spend more time in winter there than summer.Most places seem to just have hot/cold air con. My parents first place was the same and it was not great; their second house they bought had central heating and also a wood-burner and was more liveable all-year round.
Realistically, however, more properties on the market than not seem to only have air con - given I assume the cost to put in central heating would be 10%+ of the purchase cost, to what extent should I exclude totally the (huge %) properties without CH?
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