Buying a peoperty for investment - Page 2

Hi

I’m backing all the really good advice given. Do your calculations as advised, that’s vital and be prepared to cover outgoings, repairs etc yourself as rentals can’t guarantee this. I bought a bank repo apartment in good Nic very cheap 3 yrs ago for myself but no lift (hence more difficult to sell) but I would get back what I’ve spent as it’s in a good loca

All the beat

Hi Elayne

Thanks for your message. Yes many people kindly gave me different advice. I never thought about a lift in the appartment. That was good point to think about when it comes to buying a property. What about other things like Air con or a comm pool. Are they quite attractive to have them. I do not know how much i get charged for having a shareed pool per month.

Thanks

A lift is a good point to mention.  Even if you only use the apartment for yourself you are going to get older one day and might not be able to manage stairs.  

A communal pool is highly desirable for rentals.  If you are part of a community the charges will be included in your community fees.  

Thank you Josephine

Hi 

Thank you for your post. Do you mean in 4 years the landlords are only allowed to rent their property for maximum161 days?

Thanks

I know a couple who rented there house for 4 years

As soon as they went someone else moved in for a long term rental... I know that legally you can live in Spain for 161 days 

I think I will stand corrected 😎

There is new legislation for landlords you would have to check...

Thank you i will check the legislations for landlords in spain

The legislation varies depending on which area you come under - I’m in Playa Flamenca and applied for a tourist licence back in August - since then the requirements have changed, today I was informed that the authorities now want to see a copy of the deeds to our house! Not a problem, just delaying the application even more.....

It should always be remembered that if people bought over a decade ago that they were getting a much better conversion rate then. 125k€ cost you a lot more in sterling now compared to then.For example 125k€ only cost 90k£ then. 83k€ costs you 73k£....so the loss should be calculated as 17k £ not 42k