Buying in Spain - What to Consider?

brisan · 18-08-2020 11:47am

Diceicle wrote: »

Its not for everyone.
However, to push back on the 'stuck over there every year' argument - in my scenario of taking out a mortgage of ~€100k (lets say over 15 years at 3%) - that gives a monthly repayment of around €690 (€8280 per annum) . If you've bought in a place that can achieve an average rent of €100 a night and rent it for 90 nights over the whole year thats €9000 there. Even if I only rent for 50 or 60 nights - I still only have to cover a small mortgage.

With those numbers its still very possible for us to holiday wherever we like and still pop over to Spain when we feel like it and or when flight prices are positive.

You do realise there will be a non resident tax on all income earned in Spain
The penalties for tax evasion are severe in Spain

Diceicle · 18-08-2020 12:00pm

IAmTheReign wrote: »

You really need to consider the fact that the times you'll want to use the house are the same times people will want to rent it. The bulk of those 90 days would have to be between May and August, particularly weekends.

I would seriously suggest visiting anywhere you're thinking of buying in the off season. Apparently the population of Denia doubles during peak season. If you've only ever visited during the summer you'll have a very distorted view of the place.

Yes, thanks. I would be aware that peak-times will coincide with peak-demand. I don't think that would necessarily impact anything - theoretically anyway. I would not intend to spend multiple months there in the near term.

Your second point is something I was mulling over last night - towns like Denia etc - I've never been to them in November or February etc. I can obviously appreciate they're in their glory during the Summer months so wouldn't expect the same experience year-round. How are things in those towns in the depths of low season? Many places close I would assume.

HeidiHeidi · 18-08-2020 12:07pm

Diceicle wrote: »

Yes, thanks. I would be aware that peak-times will coincide with peak-demand. I don't think that would necessarily impact anything - theoretically anyway. I would not intend to spend multiple months there in the near term.

Your second point is something I was mulling over last night - towns like Denia etc - I've never been to them in November or February etc. I can obviously appreciate they're in their glory during the Summer months so wouldn't expect the same experience year-round. How are things in those towns in the depths of low season? Many places close I would assume.

I've been to Denia and Ibiza about four or five times just before Easter (traditionally the start of the tourism season) and they're like ghost towns!

Interesting, and lovely to see in contrast to the bustling full-on packed tourist season - but seeing that once would be more than enough. (We go for a particular event that happens over the Easter weekend, hence the repeated visits)

Regarding taxes, is there an agreement with Spain regarding double payment of taxes, or would you have to declare the income here as well? (I know you can arrange to pay tax on UK income here, no idea if that's available elsewhere)

Diceicle · 18-08-2020 12:15pm

HeidiHeidi wrote: »

I've been to Denia and Ibiza about four or five times just before Easter (traditionally the start of the tourism season) and they're like ghost towns!

Interesting, and lovely to see in contrast to the bustling full-on packed tourist season - but seeing that once would be more than enough. (We go for a particular event that happens over the Easter weekend, hence the repeated visits)

Regarding taxes, is there an agreement with Spain regarding double payment of taxes, or would you have to declare the income here as well? (I know you can arrange to pay tax on UK income here, no idea if that's available elsewhere)

Care to take a stab at the % of bars and restaurants that are open in the lower part of the season?
Once I'm further along on this journey taking a trip out in the low-season is something to make a point of doing. Though, again theoretically, I can appreciate that the atmosphere in July will be vastly different to the trip in November.

Eric Cartman · 18-08-2020 12:18pm

Phishnet wrote: »

Maybe you should also consider if there is an airport near your proposed purchase, and if this is the case, will Irish carriers continue to fly into that particular airport due to reduction in flights because of covid.

this, never ever buy near one of those dinky airports that needs just Ryanair or one other airline to keep it afloat. If there isn't a few operators going to the UK or here from it don't bother.

HeidiHeidi · 18-08-2020 12:20pm

Diceicle wrote: »

Care to take a stab at the % of bars and restaurants that are open in the lower part of the season?
Once I'm further along on this journey taking a trip out in the low-season is something to make a point of doing. Though, again theoretically, I can appreciate that the atmosphere in July will be vastly different to the trip in November.

I was in Ibiza a few years ago about three weeks before Easter, and from memory it was about 10% or less. The whole place, including Ibiza Old Town, was basically completely shuttered.

The other times we've arrived on the Tuesday or Wednesday of Easter week, so places are beginning to open up, but it's still eerily quiet.

You'd really need to go and take a look see yourself though (we've been busy with preparations for the event so not really concentrating on touristy stuff).

IAmTheReign · 18-08-2020 12:29pm

Diceicle wrote: »

Yes, thanks. I would be aware that peak-times will coincide with peak-demand. I don't think that would necessarily impact anything - theoretically anyway. I would not intend to spend multiple months there in the near term.

Your second point is something I was mulling over last night - towns like Denia etc - I've never been to them in November or February etc. I can obviously appreciate they're in their glory during the Summer months so wouldn't expect the same experience year-round. How are things in those towns in the depths of low season? Many places close I would assume.

I don't know this town in particular but I've been in a few holiday towns before outside of the regular season and they can be pretty grim. Lots of places close up, and the ones that don't could be half empty most nights

Ush1 · 18-08-2020 1:02pm

Del Boy wrote: »

Spain isn't a winter destination. If you want to rent for part of the year then it's the Canaries. Fuerteventura is cheaper and less developed. But no way would I buy in mainland Spain.....only 6 or 7 months sun. The busiest time of year in the Canaries is Christmas because it's the only spot in EU you'll get heat at that time of year. Easier to rent for a few months in winter too as loads of retired people go out for a few weeks in winter.

I've been in Benalmadena lots of times in November and January and it's lovely, 20 degrees often.

HeidiHeidi · 18-08-2020 1:07pm

Ush1 wrote: »

I've been in Benalmadena lots of times in November and January and it's lovely, 20 degrees often.

I'd agree with that poster that the only place practically guaranteed sun and warmth all winter is the Canaries (and obv that's not completely guaranteed either!)

As I said before, I go every year to Ibiza and Denia before/at Easter, and we've had some absolutely horrendous weather (ironically, the worst was the year Easter was the latest it could be) and the place is SO not set up for inclement weather, it was just miserable!

Ush1 · 18-08-2020 1:14pm

HeidiHeidi wrote: »

I'd agree with that poster that the only place practically guaranteed sun and warmth all winter is the Canaries (and obv that's not completely guaranteed either!)

As I said before, I go every year to Ibiza and Denia before/at Easter, and we've had some absolutely horrendous weather (ironically, the worst was the year Easter was the latest it could be) and the place is SO not set up for inclement weather, it was just miserable!

I don't mind too much as it's usually warm, at least warmer than Ireland.

My rough plan is to move there for 3 to 4 months every winter and just rent when my kids are older. You'd get a place for very cheap in off season and cost of living is tiny. I could still potentially work remotely as well.

18-08-2020 3:42pm

Spanish Eyes wrote: »

Hola, Yes I know all this. But it is not that accessible anymore really.

A family member has a place in Casares above Estepona. None of us have been able to visit this year. And hence my username. They are very generous to offer it to us, but they are quite despondent going forward.

But that's life.

As per the other threads, you can visit if you want. You are choosing not to. There's a difference. That's your choice but it needn't be the choice of the op.

18-08-2020 3:45pm

I wouldn't rent a house in Spain to anyone. The profits aren't that much for an Irish person to suffer the headaches.

Then there's also the Spanish tenency laws and squatting. It doesn't take much to put you in the red. The legal system is slow. I'll repeat it, slow. Even the supposed fast track systems are slow.

By all means pick up a spot and let trusted people use it but get good, very good security because they will target summer homes.

I have witnessed both tenants becoming squatters and holiday homes broken into and squatting. Nightmare even if you are local, nevermind sitting in Ireland with basic Spanish.

endacl · 18-08-2020 4:14pm

Spanish Eyes wrote: »

Yes, where are you thinking of buying?

And if you are not trolling why would you consider this now of all times on the planet.

Do you not tire yourself out?

pinksoir · 18-08-2020 4:40pm

mikep wrote: »

Hi there
Would these be timber frame houses?

What is the planning process like??

I'd be interested in looking at something like that..

There's a number of companies that provide everything from timber to concrete and steel. All different styles from rustic to super modern. They have off the shelf solutions that you can customise (floor layout) or you can give them your own design and they'll work from that. We're looking at a timber build because we prefer it, the difference is not too much cost wise.

As regards planning, it generally depends on the site. Some sites have restrictions on the size of the dwelling, number of buildings etc because they are, e.g., on or near a protected area. But generally a site that you'll buy will have planning permission already granted, for e.g., single family home, the sqm, whether it can be two stories and so on.

There are different types of sites: just land, buildable land, and then urban land. Usually you want urban land as it's hooked up to all the utilities and will generally have planning applied for and/or approved.

pinksoir · 18-08-2020 4:44pm

Diceicle wrote: »

Thats something I'd not considered before. In relation to getting connected to utilties (water etc) whats the situation there? Is there any major cost involved?

Sorry just saw this after I answered mikep. You would generally buy an 'urban' plot that is connected up to the utilities/sewerage etc. Then when the house is build it's just plumbed in.

There'd be connection costs of course, but you have to pay those whenever you start a new utility contract. It wouldn't be much of an expense.

dazberry · 19-08-2020 9:30pm

Diceicle wrote: »

The intention is to eventually buy a place in Spain where we can holiday and eventually retire to.

Pelezico wrote: »

and Healty care system is good too.

The health care system is great for procedures, but community care and step down care really isn't good. Even in hospital there's an expectation that family help in looking after you while an inpatient. So you really need a good family support network as you get older. My father is over there nearly 20 years, and his wife passed away last year after a long illness and a number of procedures. For all the positives I'd be reluctant to retire there.

Pelezico · 20-08-2020 5:54pm

HeidiHeidi wrote: »

I'd agree with that poster that the only place practically guaranteed sun and warmth all winter is the Canaries (and obv that's not completely guaranteed either!)

As I said before, I go every year to Ibiza and Denia before/at Easter, and we've had some absolutely horrendous weather (ironically, the worst was the year Easter was the latest it could be) and the place is SO not set up for inclement weather, it was just miserable!

Denia is quite simply, beautiful. My friend lives in Oliva where the beach is spectacular and property is cheap.....10k from Denia.

jayjay2010 · 20-08-2020 6:15pm

I don’t agree with those saying mainland Spain is not hot all year. Some parts of the costa del sol is hot all year, with temperatures in the 20s in the winter months.

Also, mainland Spain gives you access (train/car) to the rest of Spain and Europe. The canaries are further to travel to and once you’ve seen the islands a couple of times you’ve seen it all. Great for a holiday, not so great for a place to live in the future.

If you are looking for authentic Spain with access to thousands of towns and cities, definitely mainland is the way to go.

My mother’s friend bought a place in Gran Canaria and after a couple of years he was so bored because you see the same thing over and over again and it’s tiny in comparison to mainland Spain.

Just a thought!

Pelezico · 20-08-2020 6:26pm

You have to learn the language if you intend retiring in Spain. My friend spent several years working in South America.

My friend reckons you do not want to be there July and August. Too hot for locals.

21-08-2020 6:08pm

Pelezico wrote: »

You have to learn the language if you intend retiring in Spain. My friend spent several years working in South America.

My friend reckons you do not want to be there July and August. Too hot for locals.

You certainly SHOULD learn the language and embrace the local culture but its optional. The majority of ex pats in the costa barely know the basics. little Britain means they dont need to learn the lingo

Can you expand on the relevance of your friends experience in South America to this subject?

Pelezico · 21-08-2020 6:33pm

Niner leprauchan wrote: »

You certainly SHOULD learn the language and embrace the local culture but its optional. The majority of ex pats in the costa barely know the basics. little Britain means they dont need to learn the lingo

Can you expand on the relevance of your friends experience in South America to this subject?

He learned Spanish. When retirees get older, they become vulnerable if they do not have language skills.

Buying in Spain - What to Consider?

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