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Buying a property a few questions

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Posted: Wed Jul 3, 2019 10:00pm
30 replies1618 views16 members subscribed
CarlD

Posts: 10

Location: Torrevieja

1 helpful posts

Hello,

When you appoint a solicitor and give him power of attorney , do you not need to be there at all until you collect your keys?

Also what’s the average cost for a good solicitor to carry this out?

This will be a holiday home for us so what bills should we expect?

Suma, communal charge, electricity, water , home insurance ,have I missed any ?

Anybody on here use there’s as a holiday home and could give us a average annual spenditure on the bills please?

Thanks

Kimmy11

Kimmy11

Super helpful member

Thu Jul 4, 2019 12:37am

Posts: 1351

1527 helpful posts

Posted: Thu Jul 4, 2019 12:37am

Hi Carl,

By Suma, I assume you mean "IBI" (Council Tax)?  You also need to pay Non-resident tax, based on the Land Registry (Cadastral) value of your property.

The cost of your solicitor and average bill's will depend on the property you are buying - if you can provide more detail of the property, other members will be able to advise.

Kind regards, 

Kim

Wendy99

Thu Jul 4, 2019 7:43am

Posts: 56

Location: Benijofar

27 helpful posts

Posted: Thu Jul 4, 2019 7:43am

Hi

For 2 bedroomed apartment used 12 weeks of the year costs us 2000 euros a year

Wendy 

CarlD

CarlD

Original Poster

Thu Jul 4, 2019 8:02am

Posts: 10

Location: Torrevieja

1 helpful posts

Posted: Thu Jul 4, 2019 8:02am

Thanks for your replies .

It’s a 2 bedroom property, price of 65000 Euros, 

When you say non resident tax is that an annual charge aswell as the council tax ?

Wendy99

Thu Jul 4, 2019 8:21am

Posts: 56

Location: Benijofar

27 helpful posts

Posted: Thu Jul 4, 2019 8:21am

Yes, council tax is about 359E a yearand non resident tax 70E ayear and we pay someone 70E to complete forms  and pay. You can get latter cheaper or do it yourself. Council tax will vary from town hall to town hall.

Wendy

Kimmy11

Kimmy11

Super helpful member

Thu Jul 4, 2019 9:12am

Posts: 1351

1527 helpful posts

Posted: Thu Jul 4, 2019 9:12am

For completing and submitting your annual Non-resident tax return, I'd recommend:

www.spanishtaxforms.co.uk 

£34.95 to complete the return (this is per property, not per person) and an additional £12 if you need them to make the tax payment on your behalf.

The Spanish tax year runs from 1st January to 31st December, so if you buy a property this year, the deadline for filing your first tax return would be December 2020.  (If you're hoping to rent the property out when you're not using it, you would need to submit quarterly tax returns, but there have been some changes to the law around Tourism Licences, making them extremely difficult to obtain - despite what an estate agent may tell you to the contrary).

Kind regards, 

Kim

mack

mack

Helpful member

Thu Jul 4, 2019 2:12pm

Posts: 99

Location: Playa Flamenca

78 helpful posts

Posted: Thu Jul 4, 2019 2:12pm

U will pay around 13% in fees for buying property on top of the price this includes lawyers 

Mack 

Willy

Willy

Helpful member

Thu Jul 4, 2019 3:23pm

Posts: 308

Location: Benijofar

170 helpful posts

Posted: Thu Jul 4, 2019 3:23pm

It all depends on community fees when we bought originally our fees were very low and just to keep the property cost around £500 per year yes I know unbelievably cheap,  On the other hand we had friends that had an apartment and the community fees alone were 1400 euros per year so watch out for the community fees.  Lawyer fees vary a lot also so shop around with recommended lawyers one wanted double what others wanted.  Ask them for a total breakdown of fees involved.

CarlD

CarlD

Original Poster

Thu Jul 4, 2019 3:40pm

Posts: 10

Location: Torrevieja

1 helpful posts

Posted: Thu Jul 4, 2019 3:40pm

Thanks for your replies once again.

So what I see for running cost is

Suma tax ( quoted 240 euro quoted off agent) per year

Communal charge ( 220 euro quoted off agent)

Electricity standing charge of approx 15 euros per month ( excluding usage)

Water standing charge 20 euro per month ( excluding usage)

Non resident tax which has been mentioned  140 euro per year

Home insurance quoted £ 350 off agent.

Have I missed anything ?

Thanks

Kimmy11

Kimmy11

Super helpful member

Thu Jul 4, 2019 4:07pm

Posts: 1351

1527 helpful posts

Posted: Thu Jul 4, 2019 4:07pm

Hi Carl,

The charge for "Basura" (rubbish collection) - depending on the region where you're buying, this will either be included in your water bill or charged separately by SUMA; the agent should be able to provide this information.

I'd advise obtaining alternative quotes for your home insurance - €350 sounds high for a 2 bed apartment.  We have a 3 bed detached house with private pool and €60k contents cover, and we only pay €358 with Liberty Seguros.

Kind regards,

Kim

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