Originally Posted by chopera

Renting is relatively common in large cities anywhere because you have lots of temporary and migrant workers who only plan to be in the city for a few years. However the Spanish are culturally a nation of home owners - they traditionally dislike renting and see it as wasted money, and tend to buy at the first opportunity (which might not be until they are 35 or so). Also property has traditionally been the most attractive investment to them (of course that's changing a bit now). Buying your first home is almost a "coming of age" ritual, and I know a few Spaniards who didn't move in until the place was completely decorated and furnished, down to the last teaspoon. They wanted it to be perfect for the big day they moved in.

Originally Posted by cricketman

What? Who cares what they do in Switzerland?

This thread is about Spain. You said rental is normal and more frequent than in the UK. You are wrong, it isnt. Do some googling if you don't believe me

Originally Posted by casa del sol

Is it me but £250,000 seems an awful lot for a villa, especcially when only £80,000 is put down. How old are you? Nearing retirement? it will take more than a few years to repay a hefty £170,000 mortgage, I doubt if the rent you will receive will cover the mortgage repayments each year.The ware and tear, plus the maintenance costs and other bills and taxes are not to be ignored.

Originally Posted by crookesey

It's not much when you say it quickly, however there are plenty of decent 2 bed villas on the Costa Blanca for circa €200.000.

Originally Posted by casa del sol

£200,000 is also overpriced imo all depending......you can get something very nice for around £100,000 to £150,000....go inland a bit and there is a great choice of nice comfortable relaxing homes for under £100,000......that leaves you with plenty left over to enjoy living with. No good living in an expensive house you can't enjoy, with no money left to have a relaxing time without having to worry about every euro you spend.

Originally Posted by crookesey

I said € not £, so I don't think that circa £170,000 for something that was possibly £300,000 pre crash is a bad deal.

Originally Posted by casa del sol

If you do your homework and research you will find something very nice for less than that not far from the beach, from costa blanca to costa del sol and other warm places. There are many distressed sellers out there, and there are a few who are not desperate to sell but will for their right price, some have been on the market for years, that must be telling something.

Originally Posted by agoreira

The advice is generally to rent first, and even though you have been visiting for many years and have decided it's for you, I think I'd still be inclined to rent for 6-12 months first (taking in the winter and renting out your UK home), living there full time can be very different to holidaying. As many have found out to their cost. We have all met and read here of people similar to yourself, convinced it was for them, but for a variety of reasons have ended up returning to UK, poorer but wiser. Missing the grandchildren is often high on the list. I'm not a huge fan of Costa Blanca, especially the southern half, but we visited Jávea for several years and really enjoyed it. Like everywhere else up there, it started to get very built up, so we haven't been back. (remember when the bit between the town and Arenal was mainly scubland? ) Lynnxa says your 80k would get you a decent place, I've no idea of current prices but that surprises me, I thought even in these times you'd have to pay a lot more than that.

Originally Posted by lynnxa

80k deposit.... you'd barely get a garage here for 80k

they'll get something nice for the 250 they say they have though

Originally Posted by crookesey

I've done my homework, I just pointed out your currency error. I use the very same strategy in Spain as I use in the UK, that is to locate the area before the property. Yes there are many distressed properties out there, many of them because someone paid an 'A' price in a 'C' area, when banks were lending freely and buyers left their brains back home.

Originally Posted by casa del sol

Good point, the banks are no longer lending freely that one of the reasons why property has fallen so readily. Who are people who need to borrow going to borrow the money from to buy. I understand the banks are also holding many properties on their books, some of them will be sold below the said 'market value'.

Originally Posted by casa del sol

£200,000 is also overpriced imo all depending......you can get something very nice for around £100,000 to £150,000....go inland a bit and there is a great choice of nice comfortable relaxing homes for under £100,000......that leaves you with plenty left over to enjoy living with. No good living in an expensive house you can't enjoy, with no money left to have a relaxing time without having to worry about every euro you spend.

Originally Posted by lynnxa

80k deposit.... you'd barely get a garage here for 80k

they'll get something nice for the 250 they say they have though