Is property a good investment or a liability with all the new build going on
Posted: Mon Jun 10, 2019 12:24am
Well, I guess that only matters if one is trying to make money in the years to come with their investment.
Many buyers buy in Spain because they want a different way of life.
We bought this year in Moraira for that very reason... Being from the U.S.A. where life is stressful we are happy to know that we will be in a calmer and healthier life style.
So back to your question. We believe that if you are a smart investor then yes you will make money. We have found that real estate always is a good investment... again if you are smart...if that makes sense.
We are very excited about our new adventure in Spain. Looking forward to meeting new people!!
Lisa
Nobody with an ounce of grey matter between their ears buys property in Spain for investment, "smart people" buy a property to live in and enjoy as a home not as profit centre!
Note I'm not talking about getting your money back if you subsequently sell or even (if you're really lucky) catching an upswing and turning a profit, that is neither the meaning nor definition of an 'investment'.
Posted: Mon Jun 10, 2019 1:59am
Yes, that is basically what I was saying. We are buying for pleasure not as an investment.
However, we do know quite a few people who have made money from the properties they bought in Spain...
Anyway, we are definitely log forward to this new adventure.
Posted: Mon Jun 10, 2019 10:42am
Helpful member
I'd you want to invest to make profit then no Spain is not the place to do that.
If this is a holiday home then buy and forget about how much you paid for the place and enjoy your holiday's. 😎
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I agree to some what you say but circumstances change and if you need to sell bearing in mind buying costs 13pc and selling costs 4-5 pc and all the new building that look .like army camps .I know people who are taking up to 8 years to sell and have lost 200k plus .
Then I think they become a liability.
We bought in 2014 paying a fair price with the intention of being carried out. Other people sometimes come along and plans change. Thus we had to sell last year. We took the advice of the agent, who was the same one that we bought it from, for the asking price and accepted the first offer.
On paper, we made "a profit" but we weren't in business, we were moving home. So, money wise I suppose you could say it was a good investment, life wise it wasn't; such is the way of things.
A dwelling is a place to live. Gamble on the stock market, horses, price of fish whatever you want but people gambling on houses has seen a whole generation affected, I wouldn't want to be one of them.
Posted: Mon Jun 10, 2019 7:07pm
Helpful member
Well I bought when the euro was 1.43 and now at best 1.12 so am quids in AV that and of course you make an investment to make a profit when you decide to cash out !! 😀😀
I am like you but I see some people have been on the market for over 8 years
I also know people that bought new build and lost 250k
Properties near Algorfa
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