Thinking of buying a static caravan in Tenerife
Discussion
I'm 64 and one year away from retirement, I'm thinking of buying a static caravan in Tenerife because I'm so fed up with the English weather and the general bad driving on the roads and motorways here. I know the Spanish/Canarians are no angels when driving but at least they do have good weather.
Should I take the plunge and is there anyone on here that has done the same and could give me any advice?
Should I take the plunge and is there anyone on here that has done the same and could give me any advice?
To live in for six months of the year and hopefully rent out the other six months. The site it's on is extremely family friendly with kids playing areas, swimming pool, tennis and small restaurant. It's also a very secure site with fencing all round and barriers at reception. I thought it would be great for my own grandkids for a cheap holiday and also for families to have a cheap holiday when we're not there.
Unless things have changed a lot since I lived there (80/90's) canaries are seriously corrupt and toxic to foreigners coming in to do anything. You can make things work but usually have to be very very careful with your money and often unofficial channels are the way to go.
Legal setups and anyone likely to advise you are designed to separate you and your money asap.
eyes wide open + healthy cynicism..
Legal setups and anyone likely to advise you are designed to separate you and your money asap.
eyes wide open + healthy cynicism..
How long will it last in the harsh Canaries climate and what is it really worth? What are the site fees and legal costs? Are you allowed to rent it out when you're not there and if you are how does that work and whose gonna insist on taking a percentage? Whose going to clean and check it and make sure it's not been trashed after each rental? The site owners themselves perhaps and what's that going to cost?
As a Spanish resident you're gonna have to wade through a whole rainforest of paperwork. Look at that before you do anything.
Find out what's occurring with your pension too. It's not index linked if you leave the UK so what's it gonna be worth in ten years time with inflation and if Sterling/Euro rates tank even further?
If it's not for you and you find you want to sell up are there restrictions on who with and where you can advertise all carefully managed so the site owners can take a cut. Realistically what'll you come out with if you walk? Try to find out what the actual going price in the trade is for a possibly distressed sale and that's gonna be nothing like what the broker will sell it on for
Are there caravan age restrictions on site - what'll happen when it reaches that age? Do you have to get it off site? Who'll do that and what will that cost? Where will you live then? Buy another one? Can you afford to virtually scrap your possibly still sound but now manipulated into worthlessness by site age policy static that cost you twenty five grand and buy another?
Mate of mine works for a broker as a buyer and accountant for a huge static homes brokerage and transport firm in the Essex Badlands. He tell me the UK static home market is an outrageous rip off whose primary function is to part the gullible and financially innocent with as much of their cash as possible.
I can't for one moment imagine the Spanish taking any other position than that.
As a Spanish resident you're gonna have to wade through a whole rainforest of paperwork. Look at that before you do anything.
Find out what's occurring with your pension too. It's not index linked if you leave the UK so what's it gonna be worth in ten years time with inflation and if Sterling/Euro rates tank even further?
If it's not for you and you find you want to sell up are there restrictions on who with and where you can advertise all carefully managed so the site owners can take a cut. Realistically what'll you come out with if you walk? Try to find out what the actual going price in the trade is for a possibly distressed sale and that's gonna be nothing like what the broker will sell it on for
Are there caravan age restrictions on site - what'll happen when it reaches that age? Do you have to get it off site? Who'll do that and what will that cost? Where will you live then? Buy another one? Can you afford to virtually scrap your possibly still sound but now manipulated into worthlessness by site age policy static that cost you twenty five grand and buy another?
Mate of mine works for a broker as a buyer and accountant for a huge static homes brokerage and transport firm in the Essex Badlands. He tell me the UK static home market is an outrageous rip off whose primary function is to part the gullible and financially innocent with as much of their cash as possible.
I can't for one moment imagine the Spanish taking any other position than that.
Edited by Jaguar steve on Friday 4th August 06:40
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