Buying in Torrevieja

Posted: Sat Apr 3, 2021 8:12pm

5 replies294 views3 members subscribed

Nicksunlover

Posts: 78

27 helpful points

Location: Cabo Roig

Joined: 6 May 2020

Hi good and nice people,

My wife and I will be buying a property in Torrevieja in June 2021 (covid allowing). We have been researching for some years now, so we know what we want, but just need some advice on the finer detail. We will buy a 2/3 bed quad in the region of 140,000 euros, as a holiday home. We have a lawyer and financial advisor onboard.

1. Can anyone advise me on the SUMA tax, how much, when and where to pay it?

2. Are there any internet companies that offer flexible internet? for example, I phone them up when i arrive, they switch the internet on and turn it off when i leave, and bill me for the period of use?

3. What is an approximate monthly water, electricity, internet bill and TV package bill(s) (I know this is a pretty daft question, but im trying to just get an average from people who live in Spain)

4. Can anyone recommend good building and contents insurance providers, and how much are they monthly?

5. Will we need private health insurance policy with full coverage provided by a Spanish Insurance company?

Thanks in advance

Nick

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Posted: Sat Apr 3, 2021 8:25pm

tebo53

Legendary helpful member

Posts: 4845

5039 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Sat Apr 3, 2021 8:25pm

Nicksunlover wrote on Sat Apr 3, 2021 8:12pm:
Hi good and nice people,
My wife and I will be buying a property in Torrevieja in June 2021 (covid allowing). We have been researching for some years now, so we know what we want, but just need some advice on the finer detail. We will buy a 2/3 bed quad in the region of 140,000 euros, as a holiday home. We have a lawyer ...

Read more...

...and financial advisor onboard.
1. Can anyone advise me on the SUMA tax, how much, when and where to pay it?
2. Are there any internet companies that offer flexible internet? for example, I phone them up when i arrive, they switch the internet on and turn it off when i leave, and bill me for the period of use?
3. What is an approximate monthly water, electricity, internet bill and TV package bill(s) (I know this is a pretty daft question, but im trying to just get an average from people who live in Spain)
4. Can anyone recommend good building and contents insurance providers, and how much are they monthly?
5. Will we need private health insurance policy with full coverage provided by a Spanish Insurance company?
Thanks in advance
Nick

To get a good answer to your questions......Do you live in Spain now or the UK? Do you have a UK passport or Irish?

Steve

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Posted: Sat Apr 3, 2021 8:38pm

Nicksunlover

Original Poster

Posts: 78

27 helpful points

Location: Cabo Roig

Joined: 6 May 2020

Posted: Sat Apr 3, 2021 8:38pm

tebo53 wrote on Sat Apr 3, 2021 8:25pm:
To get a good answer to your questions......Do you live in Spain now or the UK? Do you have a UK passport or Irish?
Steve

Hi Steve

We both live in the UK and have UK passports

thanks

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Posted: Sun Apr 4, 2021 11:09am

tebo53

Legendary helpful member

Posts: 4845

5039 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Sun Apr 4, 2021 11:09am

I can't answer any of your questions but I'm sure someone will enlighten you shortly...

The only problem with owning a property as a holiday home is that you will be limited to the 90 in 180 day rule.

Get plenty of advice on home security. Even though its expensive to have alarms etc it will give you peace of mind. There have been several horror stories recently about squatters which have taken months to remove. Just something to consider.....

Steve

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Posted: Sun Apr 4, 2021 5:01pm

Kimmy11

Legendary helpful member

Posts: 6872

12569 helpful points

Location: Formentera Del Segura

Joined: 8 Aug 2017

Posted: Sun Apr 4, 2021 5:01pm

Nicksunlover wrote on Sat Apr 3, 2021 8:12pm:
Hi good and nice people,
My wife and I will be buying a property in Torrevieja in June 2021 (covid allowing). We have been researching for some years now, so we know what we want, but just need some advice on the finer detail. We will buy a 2/3 bed quad in the region of 140,000 euros, as a holiday home. We have a lawyer ...

Read more...

...and financial advisor onboard.
1. Can anyone advise me on the SUMA tax, how much, when and where to pay it?
2. Are there any internet companies that offer flexible internet? for example, I phone them up when i arrive, they switch the internet on and turn it off when i leave, and bill me for the period of use?
3. What is an approximate monthly water, electricity, internet bill and TV package bill(s) (I know this is a pretty daft question, but im trying to just get an average from people who live in Spain)
4. Can anyone recommend good building and contents insurance providers, and how much are they monthly?
5. Will we need private health insurance policy with full coverage provided by a Spanish Insurance company?
Thanks in advance
Nick

Hi Nick,

1. When you say the "SUMA tax", I assume you mean "IBI" (Council Tax). Whoever owned the property on 1 January will be liable for this year's IBI payment, which will be payable around September/October (it varies by area), but I believe that's the correct timeframe for Torrevieja. You should be able to find out the cost of the IBI from your estate agent, or the vendor. As this is going to be a holiday home, I would recommend setting up a direct debit for this bill and your other utilities - your lawyer should do this as part of their conveyancing service, but it would be wise to confirm that this is included.

2. There are companies that offer "switch on/off" internet services - check with local providers once you know where you're buying.

3. I can give you annual costs for our property, but so as not to scare the living daylights out of you, I need to caveat the info by saying we live here permanently and have a 3-bed, 3-bath house with private pool, so your costs shouldn't be as much. It is worth noting that standing order charges are quite high and will be charged whether you visit the property or not. Our annual costs for 2020 were:

IBI Eu 360

Electricity Eu 1,268

Water Eu 506

Internet/phone/TV package Eu 486

4. I would recommend Liberty Seguros for your home insurance (typically, buildings and contents are combined into one policy). Impossible for me to say how much this would cost, as there are many variables beyond the values covered, but I would have thought you could get good annual cover for less than Eu 250. The reason I recommend Liberty is because they have been very responsive to the claims we've made and we've never had a claim declined.

5. As non-residents, you do not need private health insurance. It will be more cost effective to buy comprehensive travel insurance, with a good level of medical cover. For emergency treatment while you're in Spain, you can use the UK's new GHIC (Global Health Insurance Card), which has replaced the previous EHIC/E111.

I hope that helps. Hopefully, other non-residents with similar properties to what you plan to buy will be able to give you more precise advice about the cost of monthly outgoings.

Kind regards,

Kim

Posted: Tue Apr 6, 2021 3:16pm

Nicksunlover

Original Poster

Posts: 78

27 helpful points

Location: Cabo Roig

Joined: 6 May 2020

Posted: Tue Apr 6, 2021 3:16pm

Kimmy11 wrote on Sun Apr 4, 2021 5:01pm:
Hi Nick,
1. When you say the "SUMA tax", I assume you mean "IBI" (Council Tax). Whoever owned the property on 1 January will be liable for this year's IBI payment, which will be payable around September/October (it varies by area), but I believe that's the correct timeframe for Torrevieja.&nbs...

Read more...

...p; You should be able to find out the cost of the IBI from your estate agent, or the vendor. As this is going to be a holiday home, I would recommend setting up a direct debit for this bill and your other utilities - your lawyer should do this as part of their conveyancing service, but it would be wise to confirm that this is included.
2. There are companies that offer "switch on/off" internet services - check with local providers once you know where you're buying.
3. I can give you annual costs for our property, but so as not to scare the living daylights out of you, I need to caveat the info by saying we live here permanently and have a 3-bed, 3-bath house with private pool, so your costs shouldn't be as much. It is worth noting that standing order charges are quite high and will be charged whether you visit the property or not. Our annual costs for 2020 were:
IBI Eu 360
Electricity Eu 1,268
Water Eu 506
Internet/phone/TV package Eu 486
4. I would recommend Liberty Seguros for your home insurance (typically, buildings and contents are combined into one policy). Impossible for me to say how much this would cost, as there are many variables beyond the values covered, but I would have thought you could get good annual cover for less than Eu 250. The reason I recommend Liberty is because they have been very responsive to the claims we've made and we've never had a claim declined.
5. As non-residents, you do not need private health insurance. It will be more cost effective to buy comprehensive travel insurance, with a good level of medical cover. For emergency treatment while you're in Spain, you can use the UK's new GHIC (Global Health Insurance Card), which has replaced the previous EHIC/E111.
I hope that helps. Hopefully, other non-residents with similar properties to what you plan to buy will be able to give you more precise advice about the cost of monthly outgoings.
Kind regards,
Kim