A good time to buy?
Together with friends, I’ve been visiting Moraira for the past 3 years, and the climate certainly agrees with me...I live in the Y Dales and beautiful as it is, the winters can be grim. I normally spend 8 weeks February >April, then a further 4/6 weeks renting during May & October and am now seriously considering putting in an offer for a villa with rental potential for periods when I’m not there. Basically June until end September when it’s too busy, and hot, for my liking.
Is there a website where I can get a précis on future tax liabilities and other considerations for a U.K. resident, soon to be a non EU resident, or is it all an unknown at this time ? I’m single, no children, plan to downsize in the U.K. to release some equity, then spend that on improving the property I’m looking at purchasing, and which I’ve previously rented for several weeks over the past years so know what needs doing. I know about the 10% purchase tax, Notary and Registry fees circa €2k, rates, rubbish etc and will elect to pay tax on any rental income to HMRC.
Many thanks for any advice...the property I’m considering is not on the open market but the letting agent tells me that the current overseas owner would consider a serious offer. It’s currently rented out all winter plus a further few months until mid summer 2019, which doesn’t bother me.