sunnydee

Do all expats own their property in Spain or has anyone just lived continously in long term rentals?
Unless anything goes drastically wrong we will be moving to Spain (most likely Costa Blanca) in August, permanently. We have 2 children and will definitely be renting to start with. However, it is probable that we will never be able to afford to buy a property although we will have a lump sum from the sale of our house in the UK.
Any advice from people already living in Spain would be appreciated.
Oh, and I'm new to the forum so hello to you all.

vox populia

How do you intend financially supporting your goodseleves?

sunnydee

Hi,
I'm a qualified British primary school teacher. I am waiting to hear about an interview at a private school offering a UK curriculum and have an interview at another on Monday. We will have enough money to pay up front for rental and schooling in the first 2 years. Plus I will have my salary (from which we will save as we won't be paying rent) and I still get my wage from my current UK school in August.
My partner wants to buy a bar (he has management experience in this area of work) but this is something we will look into once we are out there because we don't want to jump into something via the internet.
I've done a lot of research into moving, I can speak quite a bit of the language (everyday stuff) but unless the bar did extremely well we probably wouldn't earn enough for a mortgage on a 3 bed property.
Hope that makes my request for information easier to answer.

Lionda

Hello Sunnydee, welcome to the forum I don't know much about long term renting, we have a friend in Finestrat (beach area) and he is renting a 2 bed apartment in a block with a communal pool. He is paying 500 euros a month. We also met some people on the urbanisation where we are buying and while they are waiting for their place to be ready they are renting a 4 bed detached villa for 500 euros a month, that is inland though. So rental is definitely dearer the nearer you are to the beach and tourist area.

chrisw

Hi all,
Don't know how true this is, but heard ( can't remember where) that landlords reluctant to rent for too long (again, sorry but can't remember the length of time), because tenants then legally aquire the right to stay. I suppose our equivelant to a sitting tenant.
I expect someone else will have the SP on that though.

spain

because of changes in the law (last year I think) most owners only now rent on a 11 month basis at most - know a few people who live in rented places here and they have had no problems re-newing at the end of that period

jdr

People love long term renters, its real money all the year round.
They dont have to fight and struggle to get a few weeks at the end of term times etc.
No weekly apartment cleaning, laundry, dodgy tenents etc.
We have rented two different places for full one year contracts and still do, and we know plenty of other people that do, and never have a problem to renew.

brisca

Hi there,

We initially took out a 6 month contract on the house we rent, thinking that would give us a reasonable amount of time to find a property to buy (we already knew which village we wanted to live in)

After the initial 6 months we just asked if we could stay on, on a month to month basis, and the owner was perfectly happy with this arrangement.
This could be something to do with the fact that the house had been empty for 5 years before we arrived, and now he knows he's getting a regular income!

Unfortunately, as it's a very small village, we haven't been able to find our "dream house", so are just about to have one built

We've now asked if we can stay on for an undefined period while the house is being built, and that has been no problem either.
We haven't got another contract - just an agreement to give a month's notice from either side.
We're into our 13th month here now, and the rent hasn't increased from the 240 Euros a month we originally agreed on (for a 3 bedroomed house)

However, bear in mind that we live in a very rural area, and nowhere near the Costas, so rental prices are bound to be cheaper here!

All the best with your move - you do realise it will be pretty HOT here in August, don't you!!?

Rixxy

Hi there good luck with it! I moved out 12 years ago and rented. Things didnt go to plan and hubby and i split up! I stayed with the kids, he went back to UK.

I kept on renting as could not afford to buy and finally bought last october (yes very proud of myself)

The main issue with renting is its easy to get stuck in a rut and live on a cheap rent. Your money goes as its dead money and prices creep upwards - although in my case they shot up!

I wish I had taken the plunge when first moving out and would at least have had something.

I also know people who after many many years, never find quite the right thing and so stay in the rental trap!

You wont have any problems finding a long term rental, 11 months renewable and then you should look to buy as soon as you can.

sunnydee

Thank you for all your replies. Rent for 3 beds in the areas we have looked at are about 600/700 euros but this is on the internet. We will come out in May half term to find a somewhere. We will look into mortgages once we are settled and know how much deposit we've got.
Lionda we have seen an urbanisation between Finestrat and La Nucia (above Benidorm) which seems a nice area - could this be where your friend is renting?
We don't want to be too far inland because if we buy a bar we would be looking at a coastal area.

Lionda

The urbanisation where our friends are renting is Castalla Internacional Urbanisation (where we are buying). Our friend who is renting in Finestrat is renting in an apartment block in Calle de Finestrat, 2 mins walk from the beach. He has taken a partnership in a bar near the Bali Hotel in Finestrat so is close to there. Where are you looking to buy a bar?

sunnydee

Anywhere close to where I get a job which we are hoping will be the North Costa Blanca area. We will only be able to lease not buy freehold. My partner is hoping to find work in a bar first to find his feet (learn a bit of the language and suss out the Spanish way of doing things) tho' we are aware it could be the wrong end of the season for jobs.

Lionda

Good Luck, hope you find something. It's quite busy in Benidorm but still quiet at the Finestrat end. My daughter is still looking for work, been there 6 weeks but although she's left her number with a few bars they aren't busy enough to take staff on yet.