Post Brexit - Page 3

Thank you for this information.
My intention would be to remain a UK resident at the time of the sale and I would then move to Spain to live in the villa I have just purchased.  Unfortunately I need to sell my house  in order to buy in Spain and so letting out my UK property isn’t an option for me.   Many thanks, Ann 

Thank you!  I so want to move to Spain but I probably should have done it sooner.  Ann

Hi Ann,

I read a post recently where a man said that if he had known what he knows now, he wouldn’t have bought in Spain, he would gave rented instead! As I recall, if the fridge or washing machine breaks down, the owner replaces it. No suma , no urbanisation charged and many more. Would you consider renting out in the U.K. for a while and the income would more than likely cover your Spanish rental. You might have money over which could go towards your annual income.  Should anything happen, you will be able to back to your home. Or, sell your house and buy a smaller place to use as a bolt hole. Stay in Spain for the number of days permitted and if ill, get treatment at home.   Give this some serious consideration.  It becomes extremely hot during the high season and you would be happier at home where the temperatures should be lower.

Do you have family in the U.K. ? Better still, do you have friends in Oliva?  Please give some very serious thought to your proposed dream move. Think before you leap. Remember, properties at home keep going up but regretfully, not the same in Spain should you decide to return home in a few years time, you might not be able to afford to live in the type of home you are now in. Your house in the U.K. will always be a valuable commodity, please don’t sell it and leave yourself in a difficult situation.  Seek advice please. 

Is it possible for you to sell your home+ buy a small cheaper one in the U K and then rent here for the required time to remain a British resident. Rentals,especially long term, are so much cheaper than the UK and of course you would be able to move if you don't like the area..you can still have the best of both worlds..good luck. Keep us all in the loop!

Hi Ray. Many thanks for your message.

I definitely won’t be renting as I intend, if possible, to sell my property in the UK and buy in Spain simultaneously.  Is that possible do you know?  I don’t want to be homeless and I don’t want to rent if I don’t need to.

I realise I will be missing out on residency before the end of the year but there’s nothing I can do about that.  I should have done it months ago but the housing market here has only just kicked off thanks to Covid and the stamp duty holiday  

all advice gratefully received - thank you   Ann

Hi Sue

You are the second person today who is recommending that I rent in Spain rather than buy and I can see it would be sensible financially!   I will give it careful thought. 

Sadly I can’t afford to own two properties or I would buy a holiday home in Spain rather than a proper home, if that makes sense.

I am confused but once we are allowed to travel to Spain (at the moment travel insurance is null and void) I plan to come and view a particular villa and look around Oliva which I don’t know but feel in my bones that I will love it judging by all the research I’ve done.   
many thanks for your advice.  Ann

Hi Ray

I realise I will have “missed the boat” but there’s nothing I can do about that. 

I am being encouraged by very kind people not to buy in Spain but to rent.  It would be financially prudent to do that but I’m wanting to have a proper home where I can have a stream of friends and family to stay and I have a particular villa in mind which I’m wanting to view as soon as we are allowed to travel to Spain. I have a 5-year plan but I realise that selling isn’t as easy as buying!  

Hi Ray

I enjoyed your story and it has inspired me. To be honest the area I was looking at originally was Costa Tropical which I have been visiting for years - but property there is very expensive, twice the price of Oliva!

Then, by chance, I came upon a villa with my name on it. Sounds corny but it’s the villa (well set back from the coast) that’s driving me - it’s a real home with scope to have family and friends to stay.  When I eventually get to view it I may get it out of my system or it’s possible I might not like the area - but most unlikely as I’ve done lots of research.  I’d love to know where you ended up.  

First thing is get your NIE number,  you need this for bank account and buying a house , when you buy in spain add another 13% for tax's on top of purchase price , sell house in england and trickle money into Spanish account,  then buy place , what about long term rental?

Hi Ben

is it not possible to sell in the UK and buy in Spain simultaneously? I don’t really want to rent. 

I was thinking 10 percent purchase tax. Is the other 3 percent for solicitor, actuary etc.

Thanks for your help. Ann