Would You Buy Now?
#1
Would You Buy Now?
Many of us own in Spain and there must be many potential ex pats wanting to buy in Spain but Brexit has no doubt changed your plans ? owners , if you could turn back the clock would you still go for it ? rent and wait? forget it all together ?
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
#2
Forum Regular
Joined: Feb 2011
Location: Sheffield, UK and La Safor, EspaƱa
Posts: 207
Re: Would You Buy Now?
We bought in 2012. The plan was to move into the house full time when we retired last October. We also planned to do extensive renovations to the house before we moved. Since Brexit, we have shelved all plans until there is some definite resolution to the whole mess. We're reluctant to give up everything in the UK and spend a lot of money on a house we may never be allowed to live in as non-EU citizens. Probably an unlikely outcome but we're not prepared to risk it. For now, the house in Spain remains a holiday home. Had we not yet bought a property, in light of Brexit we would be waiting to find out what happens before making that sort of commitment.
#3
Re: Would You Buy Now?
We bought in 2012. The plan was to move into the house full time when we retired last October. We also planned to do extensive renovations to the house before we moved. Since Brexit, we have shelved all plans until there is some definite resolution to the whole mess. We're reluctant to give up everything in the UK and spend a lot of money on a house we may never be allowed to live in as non-EU citizens. Probably an unlikely outcome but we're not prepared to risk it. For now, the house in Spain remains a holiday home. Had we not yet bought a property, in light of Brexit we would be waiting to find out what happens before making that sort of commitment.
#4
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,621
Re: Would You Buy Now?
We bought in 2012. The plan was to move into the house full time when we retired last October. We also planned to do extensive renovations to the house before we moved. Since Brexit, we have shelved all plans until there is some definite resolution to the whole mess. We're reluctant to give up everything in the UK and spend a lot of money on a house we may never be allowed to live in as non-EU citizens. Probably an unlikely outcome but we're not prepared to risk it. For now, the house in Spain remains a holiday home. Had we not yet bought a property, in light of Brexit we would be waiting to find out what happens before making that sort of commitment.
#5
Forum Regular
Joined: Feb 2011
Location: Sheffield, UK and La Safor, EspaƱa
Posts: 207
Re: Would You Buy Now?
Same for us. If Brexit ends the reciprocal health care agreement, there's no way we can afford private cover.
#7
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,621
Re: Would You Buy Now?
I think for many property costs/rental would be prohibitive and you still need to use an S1 would that still stand? Who knows it's a mess and worrying. Many of us that have made plans to retire are 60+ obviously health care for quite a few will become necessity in the not far distant future. Even if Spain continued with the scheme for 65 euros each, that is 130 euros less per month in the pocket for a couple, plus you must pay full cost of any prescription. That could soon mount up one serious illness say cancer or serious heart condition and one could be well and truly up the smelly creek without a paddle. Very uncertain times. Ok 5 years legal residency becomes permanent but without free health care for many that is useless. It may well help those from EU living in the EU as health care is residency based ?
#8
Forum Regular
Joined: Jan 2017
Location: Kent
Posts: 101
Re: Would You Buy Now?
Many of us own in Spain and there must be many potential ex pats wanting to buy in Spain but Brexit has no doubt changed your plans ? owners , if you could turn back the clock would you still go for it ? rent and wait? forget it all together ?
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
Renting is the best option.in UK and Spain
Last edited by Rosemary; Feb 24th 2017 at 8:52 pm. Reason: corrected quote
#9
Re: Would You Buy Now?
Many of us own in Spain and there must be many potential ex pats wanting to buy in Spain but Brexit has no doubt changed your plans ? owners , if you could turn back the clock would you still go for it ? rent and wait? forget it all together ?
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.
If so, would it still be worth 'cutting your losses' & be done with it, guessing the future prices will not go back to where they were when you bought?
On the basis that you reside domicile in the UK, then by keeping hold of the asset in Spain would keep on costing you money for taxes, maintenance, upkeep etc year over year?
#10
Re: Would You Buy Now?
If you sold today would you be in a 'loss position'?
If so, would it still be worth 'cutting your losses' & be done with it, guessing the future prices will not go back to where they were when you bought?
On the basis that you reside domicile in the UK, then by keeping hold of the asset in Spain would keep on costing you money for taxes, maintenance, upkeep etc year over year?
If so, would it still be worth 'cutting your losses' & be done with it, guessing the future prices will not go back to where they were when you bought?
On the basis that you reside domicile in the UK, then by keeping hold of the asset in Spain would keep on costing you money for taxes, maintenance, upkeep etc year over year?
#11
Re: Would You Buy Now?
on that point, why is that - surely every British person from early childhood is made to believe 'home is their castle to own'
Outside of being a social tenant/ council house tenant, why rent in the UK when one could be at the mercy of scrupulous landlords?
Maybe, just maybe it's an age thing or time of life change being a factor?
As for having a second home/holiday home for retirement in the 'sun & sand', I agree renting is the way to go because of flexibility, if you own 'what if's' that can come about from the death of a spouse, economic downturn, the change of government or policy, political issues, cancelled reciprocal agreements (Brexit & healthcare) freedom of movement etc
Outside of being a social tenant/ council house tenant, why rent in the UK when one could be at the mercy of scrupulous landlords?
Maybe, just maybe it's an age thing or time of life change being a factor?
As for having a second home/holiday home for retirement in the 'sun & sand', I agree renting is the way to go because of flexibility, if you own 'what if's' that can come about from the death of a spouse, economic downturn, the change of government or policy, political issues, cancelled reciprocal agreements (Brexit & healthcare) freedom of movement etc
#12
Re: Would You Buy Now?
Many of us own in Spain and there must be many potential ex pats wanting to buy in Spain but Brexit has no doubt changed your plans ? owners , if you could turn back the clock would you still go for it ? rent and wait? forget it all together ?
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.[/QUOTE
Renting is the best option.in UK and Spain
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.[/QUOTE
Renting is the best option.in UK and Spain
Last edited by Rosemary; Feb 24th 2017 at 8:59 pm.
#13
Re: Would You Buy Now?
I bought around 15 years ago so I`m lucky , wouldn't sell today if it was only for current market value , I`ll just use the place for long holidays when I retire , it`s not as if none EU citizens aren't allowed into Spain , an American friend of mine has no issues, visits when he wants and stays as long as he wants ,guess I`ll have to ask him how he goes about that.
On non-EU citizens from visa free countries spending time in Spain or any other EU country with or without Brexit, the only difference post Brexit is will Spain impose rules for Brits same as they do for other non-EU citizens that want to long stay visits or reside.
One rule for anyone not in an EU country is my guess. Brits may lose their 'freedom of movement' - it's a wait & see what Teresa May can 'deal the deal' acceptable to the remaining EU controlling powers (of Germany & France)
It may just take a couple more years before it's all flushed out so that the common folk will know 'what's-what'
#14
Re: Would You Buy Now?
Fair enough, good point.
On non-EU citizens from visa free countries spending time in Spain or any other EU country with or without Brexit, the only difference post Brexit is will Spain impose rules for Brits same as they do for other non-EU citizens that want to long stay visits or reside.
One rule for anyone not in an EU country is my guess. Brits may lose their 'freedom of movement' - it's a wait & see what Teresa May can 'deal the deal' acceptable to the remaining EU controlling powers (of Germany & France)
It may just take a couple more years before it's all flushed out so that the common folk will know 'what's-what'
On non-EU citizens from visa free countries spending time in Spain or any other EU country with or without Brexit, the only difference post Brexit is will Spain impose rules for Brits same as they do for other non-EU citizens that want to long stay visits or reside.
One rule for anyone not in an EU country is my guess. Brits may lose their 'freedom of movement' - it's a wait & see what Teresa May can 'deal the deal' acceptable to the remaining EU controlling powers (of Germany & France)
It may just take a couple more years before it's all flushed out so that the common folk will know 'what's-what'
#15
Re: Would You Buy Now?
Rosemary
Last edited by Rosemary; Feb 24th 2017 at 9:01 pm.