What do you wish you had known/ done/are glad you knew?
#61
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Re: What do you wish you had known/ done/are glad you knew?
Sensible stuff Horlics.
We are too wet behind the ears re kowledge of Spain to make such a definitive commitment by buying there at this stage.
However after a season or two renting that may change. For now though renting seems for us the way to go
We are too wet behind the ears re kowledge of Spain to make such a definitive commitment by buying there at this stage.
However after a season or two renting that may change. For now though renting seems for us the way to go
#63
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Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
#64
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Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
We are retirees who are seriously thinking about moving to Spain and have made arrangements to go over and have a look around the areas from Torrevieca to Mar Menor. It is interesting but disturbing to see some of you would like to leave and some give their reasons like 'Sir John' which is understandable. We owned a small apartment 30+ years ago on the La Manga strip and then we bought in Florida. We have recently sold our last property in Florida and can't live out there in any case as it's not allowed. We have been doing lots of research and listening to peoples view….some for….some against..living in Spain. We are very concerned and 'scared' in an exciting sort of way. Although we are coming over with a view to buying, I think we will eventually try renting for a few months before spending our funds on our own property.
Would anyone advise us to rent to start or would you take the plunge with the Euro being as it is and we can get more value for our money. Any other suggestions more than welcome please.
Would anyone advise us to rent to start or would you take the plunge with the Euro being as it is and we can get more value for our money. Any other suggestions more than welcome please.
As for the EURO you will get an good rate exchange from sterling to euros,it can be variable moment within cents when i came out here it was 1.5 euros pound very good then crisis hit spain 2008 and it dropped down down it did drop down scarely to 1 euro-1 pound briefly then picked up 1.1/2/3/4.
My advice keep your money safe very safe in your own country!,by all means rent here and give it a try nothing ventured and please do your very very thorough homework,bring enough with you to cover your trip expedition!
Beurocracy is absolutely ridiculous here spain, i believe the same in france too just youtube "036" video thats how it is!,paperwork gone crazy.
Remember that spain is in financial CRISIS here no jobs,no building work,companies shutting down and shops right left centre,people begging ouside shops children,red cross inaudated for help from people no money no home no food children sad,yes you can buy a real bargain for peanuts villa pool 110.000 euros+- its a buyers market and a sellers nightmare that is if you can sell what you have,i known people taken 6+ years to sell here and lost sheds loads of money between 40-60% of what they paid for it,heart breaking soul destroying,people crying.
So if its for an investment no one know if/when spain economy will improve?,talking to many people in the know estate agents,gestors,solicitors,real estate speciailsts could be 5-10 years a big maybe,as house prices here are continuing to drop(please don't believe the hype or what spanish government likes you to think 100% untrue),yes properties are selling moment ......at ridiculous low prices!!.,and where are lots going to?,back to their own country uk,germany,france mainly where the economy more stable better,just look newpapers uk expats flood back uk.
Some people see only whats in front of them with rose tinted glasses and never really see the truth even if it slaps them in the face,i think you are wise and sensible people from your post so,poco poco as the spanish say slowly slowly..
Finally so as to give a balanced view with good points:-
I have enjoyed mostly everything about spain,yes its been a big challenge and a change of lifestyle and thinking,YOU MUST LEARN SPANISH!,so important it opens so many doors for you,so not just the climate everyone talks about obviously great proud people integretity good healthy food,culture,lifestyle,healthcare excellent,politeness,helpfulness,cheaper to live mostly,when you have spanish friends they are true genuine people,spend many good evenings with them eating and in their homes ,fiestas here great fireworks street parties eating out cheap and if you enjoy wine cheap,a healthier lifestyle if you want it.....more laid back also everything.
Cheaper properties much!,cheaper rates,few months only heating 2-3 months year depends where you live.....many many pluses.
Hope of some help you get it for real from me and
i wish you good luck in whatever you decide future,remember if it does not feel right it isn't..go with your gut feeling.
#65
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Joined: May 2006
Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
As an Investment buy in 5 years NO,in 5-10 YEARS i doubt you'll get what you think you might gain from it going on what experienced advisers and estate agents think i talked to in spain,if you do the hacienda will hit you for as many taxes and other non-tax charges it can bleed you from which includes capital gains tax for sure they love expats here money for nothing!.,ooops forgot the assett declaration
RENT!....try it out,,do your homework...if you live here how are you going to support yourself with no work here,here is just financial crisis?...unless you are retired good pension!...
#66
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Joined: May 2006
Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
Well, People who want to leave have lost money because the prices are low. So if the reasons you want to buy are because you really want to live here, or that you want a long term investment, yes, it's a good time to buy. But since you'll probably be stuck with your property with no short term gains or only low gains then you should rent for a while to make sure you get the place you'll be happy with for a few years.(In my opinion). And always do your research. I think everyone would agree with that!
#67
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Re: What do you wish you had known/ done/are glad you knew?
For those considering moving out to Spain, if the exchange rate is going to continue to be a major factor, there are financial products that allow you to effectively fix the rate at the current one for years to come.
As for whether now is the time to buy. I would be guided by future intentions. If you are intending to hold onto the property for the long-term, then once you have chosen a place that you are sure is right for you, I think it's a good time to buy.
But:
- only if you're doing it because you want to live in it
- are sure you could dispose of it in a reasonable amount of time if you wanted to sell it
If you're into property purely for investment purposes, the UK market is better than Spain.
As for whether now is the time to buy. I would be guided by future intentions. If you are intending to hold onto the property for the long-term, then once you have chosen a place that you are sure is right for you, I think it's a good time to buy.
But:
- only if you're doing it because you want to live in it
- are sure you could dispose of it in a reasonable amount of time if you wanted to sell it
If you're into property purely for investment purposes, the UK market is better than Spain.
#68
Re: What do you wish you had known/ done/are glad you knew?
Sir John, personally I wouldnt advise anyone to buy a property in Spain as an investment. Back in the day it may have paid off, but these days ....... the chances of making any money are slim, to say the least and the chances of selling easily when you want to are also much reduced.
In the UK I made a lot of money over the years out of properties we bought .... it's a cost effective way of living now in the UK as opposed to renting, but it's no longer the cash cow it used to be.
In the UK I made a lot of money over the years out of properties we bought .... it's a cost effective way of living now in the UK as opposed to renting, but it's no longer the cash cow it used to be.
#69
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Re: What do you wish you had known/ done/are glad you knew?
Sir John, personally I wouldnt advise anyone to buy a property in Spain as an investment. Back in the day it may have paid off, but these days ....... the chances of making any money are slim, to say the least and the chances of selling easily when you want to are also much reduced.
In the UK I made a lot of money over the years out of properties we bought .... it's a cost effective way of living now in the UK as opposed to renting, but it's no longer the cash cow it used to be.
In the UK I made a lot of money over the years out of properties we bought .... it's a cost effective way of living now in the UK as opposed to renting, but it's no longer the cash cow it used to be.
#70
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Joined: Dec 2014
Posts: 145
Re: What do you wish you had known/ done/are glad you knew?
I've just read this thread with great interest, as we are looking to retire to Spain in a couple of years.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
#71
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Joined: May 2006
Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
I've just read this thread with great interest, as we are looking to retire to Spain in a couple of years.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
Has the sun set on the expat dream in Spain? - Telegraph
Expats flee Spain thousands poorer - AOL Money UK
'Our €250,000 Spanish villa sold for just €87,000' - Telegraph
'Any expats who could move back to the UK already have. The rest of us are trapped' - Europe - World - The Independent
you said "genuinely believe that when one of us 'departs', the other would prefer to stay in Spain",that's a very big supposition to make,and until it happens god forbid and you are in that situation you will be in the vast minoroty NO never heard of it here sorry,most expats return uk if they can sell unless you have ties and family expat neighbours to help you living here to give support ect and lots of friends.
#72
Re: What do you wish you had known/ done/are glad you knew?
I've just read this thread with great interest, as we are looking to retire to Spain in a couple of years.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
I understand that it is not a good idea to buy for investment purposes, but we won't be doing that anyway.
The question I would like to ask is why are Brits selling up and leaving? I can't find a definitive answer online to this.
Also, as we are retiring there, we have no intention of returning to the UK, are there any retired folk who are determined to stay, even if they have lost a partner, or decline in health? I know that sounds a bit morbid, but we genuinely believe that when one of us 'departs', the other would prefer to stay in Spain.
There are many reasons that people sell up and leave amongst them are lack of work opportunities, unable to maintain their house or family, ill health, age, missing family in UK, grandchildren in the UK, income changed due to exchange rate, bored with sun/heat, generally wanting a change or many, many other reasons.
We bought our house as a home not an investment so whether the value lessens or increases is of no interest. When we made the decision to move it was primarily my husbands idea and I agreed to give it a try so we thought that we might only be here a shortish length of time.
However, we had lived here three years and my husband became ill and 31 months later he died. I am still living here because although I was reluctant in the beginning I settled quickly and like my life here living an ordinary life in an ordinary Spanish town.
To be fair it depends totally on what you want and expect from your life in Spain so making the right choice in the beginning can colour how you view and experience it.
Rosemary
#73
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Joined: May 2006
Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
There are many reasons that people sell up and leave amongst them are lack of work opportunities, unable to maintain their house or family, ill health, age, missing family in UK, grandchildren in the UK, income changed due to exchange rate, bored with sun/heat, generally wanting a change or many, many other reasons.
We bought our house as a home not an investment so whether the value lessens or increases is of no interest. When we made the decision to move it was primarily my husbands idea and I agreed to give it a try so we thought that we might only be here a shortish length of time.
However, we had lived here three years and my husband became ill and 31 months later he died. I am still living here because although I was reluctant in the beginning I settled quickly and like my life here living an ordinary life in an ordinary Spanish town.
To be fair it depends totally on what you want and expect from your life in Spain so making the right choice in the beginning can colour how you view and experience it.
Rosemary
We bought our house as a home not an investment so whether the value lessens or increases is of no interest. When we made the decision to move it was primarily my husbands idea and I agreed to give it a try so we thought that we might only be here a shortish length of time.
However, we had lived here three years and my husband became ill and 31 months later he died. I am still living here because although I was reluctant in the beginning I settled quickly and like my life here living an ordinary life in an ordinary Spanish town.
To be fair it depends totally on what you want and expect from your life in Spain so making the right choice in the beginning can colour how you view and experience it.
Rosemary
#74
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Joined: May 2006
Location: denia
Posts: 192
Re: What do you wish you had known/ done/are glad you knew?
Sorry to hear of your loss husband forgot to mention.
#75
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Joined: Jun 2013
Posts: 990
Re: What do you wish you had known/ done/are glad you knew?
In my experience, its unusual for people to continue to live in Spain when they are bereaved, unless they have other family members close by.
It is much harder to come to terms with the death on your own, and as Rosemary said, coping with the maintenance of a property and pool becomes harder with age and no suppport.
Even if you have the money to pay someone to do it, its not the same and your heart isnt in it.
Rosemary summed it up well
Until it happens to you, you cannot forecast how you will feel.
It is much harder to come to terms with the death on your own, and as Rosemary said, coping with the maintenance of a property and pool becomes harder with age and no suppport.
Even if you have the money to pay someone to do it, its not the same and your heart isnt in it.
Rosemary summed it up well
Until it happens to you, you cannot forecast how you will feel.