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First Occupation Licence - me again

First Occupation Licence - me again

Old Jul 22nd 2010, 3:47 pm
  #31  
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Default Re: First Occupation Licence - me again

Originally Posted by Rotor
So who do you believe?, we all know prices are down but at the same time nothing is being given away nor likley to be, my personal view is that it will be around 3 to 4 years before we see another wave of foreigners with hands full of cash pushing up prices significantly and then they may be all Chinese businessmen
Maybe true I was in Canada when they got slung out of Hong Kong and bought half of BC.
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Old Jul 22nd 2010, 3:49 pm
  #32  
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Default Re: First Occupation Licence - me again

Originally Posted by Rotor
But prices will come back up...they always have ,you may have to wait a few years thats all .
You are right but you may have to wait a very long time

I believe housing in the 1880s in the UK was very expensive and at the top of a bubble, people had to wait until the 1970s to see housing at the same level in real terms. That's a long time to wait!

And we have just seen the biggest housing bubble in history, that hasnt entirely burst yet
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Old Jul 22nd 2010, 3:52 pm
  #33  
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Default Re: First Occupation Licence - me again

Originally Posted by jdr
Tell that to the people that bought and are stuffed now cos they can`t sell and are struggling to get a renter.

Thats because they over stretched themselves ,many in Spain got massive self certified morgages without a proper job!serves them right for not doing the most basic of calculations, if you dont have other incomes to cover such an event then its only a matter of time before it all collapses.
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Old Jul 22nd 2010, 3:56 pm
  #34  
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Default Re: First Occupation Licence - me again

Originally Posted by Rotor
Thats because they over stretched themselves ,many in Spain got massive self certified morgages without a proper job!serves them right for not doing the most basic of calculations, if you dont have other incomes to cover such an event then its only a matter of time before it all collapses.
I know people that bought cash, and haven`t had a sniff of a sale at a lot less than what they paid.
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Old Jul 22nd 2010, 4:05 pm
  #35  
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Default Re: First Occupation Licence - me again

Originally Posted by cricketman
If you are a cash buyer then you are free to buy what you like Really these things are about opinions and confidence. Your friend needs to find a place they think is worth the money.

Everything I see in my part of Spain is worth nearly half of its sale price - in my eyes.

Btw, renting isnt wasting money at all. I get to save 1200 euros a month because the rent is way cheaper than the mortgage would be. Over 30 years this is 430,000 euros I save, not including inflation/savings interest!

Then I save on the community fees, at 200 euros a month, that is 72,000 euros over 30 years. And of course I dont have to pay for maintainence. Oh and of course the sales tax on a 350k property comes to 35k. That is 4 years rent!

People should do what they want. But it is wrong to say renting is wasting money.
Yes, this is exactly what my friend has been stubbornly saying for a couple of years now (based on what she sees/hears in the media).

Trouble is she desperately wants to buy something so she can finally set up home with her boyfriend and start a family. She is a 32 year old first time buyer with a massive wad of cash in the bank - lucky her! They've been renting for about 6 years now (€750/month) and looking to buy for about 2. I just think that she needs to rethink her stance a bit because she'll never find a property with her current attitude.
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Old Jul 22nd 2010, 4:10 pm
  #36  
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Default Re: First Occupation Licence - me again

Originally Posted by Veleta
Yes, this is exactly what my friend has been stubbornly saying for a couple of years now (based on what she sees/hears in the media).

Trouble is she desperately wants to buy something so she can finally set up home with her boyfriend and start a family. She is a 32 year old first time buyer with a massive wad of cash in the bank - lucky her! They've been renting for about 6 years now (€750/month) and looking to buy for about 2. I just think that she needs to rethink her stance a bit because she'll never find a property with her current attitude.
Yes she has two options, pay a bit more or take a 5 year let.

There's no reason why you can't set up home and start a family when renting. As a tenant you can redecorate the whole place if you wish and paint doesnt cost very much
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Old Jul 22nd 2010, 4:40 pm
  #37  
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Default Re: First Occupation Licence - me again

I agree with Cricketman, the costas are different, many don't have to sell, they may wish to but only at a price they think it's worth. Many can afford to wait and are not mortgaged.

Rent or buy...good question. I am not a renting person but as things are now I would consider renting. It could take years to clear the backlog. if you are absolutely certain you want to remain in Spain ok. but who knows until they have lived here for a few years.
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