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Looking to purchase property in costa blanca

Posted: Thu Mar 19, 2020 5:10pm
18 replies621 views10 members subscribed
allan26554

Posts: 10

2 helpful points

Location: Torrevieja

Joined: 19 Mar 2020

Hi my name is Allan and I have just retired.  Myself and my wife Jo have talked about owning a property in Spain and the Costa Blanca looks very inviting. Can anyone help with advice on areas in and around Torrevieja?  We prefer a quiet place but within walking distance of shops, restaurants, beach etc.  Thank you in advance.

VivienneAnn

Posted: Fri Mar 20, 2020 8:12am

VivienneAnn

Helpful member

Posts: 155

178 helpful points

Joined: 7 Mar 2017

Posted: Fri Mar 20, 2020 8:12am

allan26554 wrote on Thu Mar 19, 2020 5:10pm:

Hi my name is Allan and I have just retired.  Myself and my wife Jo have talked about owning a property in Spain and the Costa Blanca looks very inviting. Can anyone help with advice on areas in and around Torrevieja?  We prefer a quiet place but within walking distance of shops, restau...

...rants, beach etc.  Thank you in advance.

I suggest you put this on hold until you are able to visit for yourself. 

Hope that won't be too long but in the mean time the internet is a good place to start and later followed up with visits when travel is allowed.

Good luck with your search

allan26554

Posted: Fri Mar 20, 2020 10:25am

allan26554

Original Poster

Posts: 10

2 helpful points

Location: Torrevieja

Joined: 19 Mar 2020

Posted: Fri Mar 20, 2020 10:25am

VivienneAnn wrote on Fri Mar 20, 2020 8:12am:

I suggest you put this on hold until you are able to visit for yourself. 

Hope that won't be too long but in the mean time the internet is a good place to start and later followed up with visits when travel is allowed.

Good luck with your search

Hi Vivienne.  Many thanks for your reply.  I think you are correct and I am already doing a lot of research online but it is not easy to get a feel for a place when you haven't been there.  Hope to visit later in the year.  Thanks again.     

MeathMaria

Posted: Fri Mar 20, 2020 11:02am

MeathMaria

Helpful member

Posts: 467

390 helpful points

Location: Alicante City

Joined: 9 Jun 2019

Posted: Fri Mar 20, 2020 11:02am

Hello Allan

I agree with all Vivienne said.    In meantime search this site for lots of answers already given to questions you may have.  

Read  Jim's Guides

And hereMoving to Torrevieja

Stay safe and well.

Regards

Maria

allan26554

Posted: Fri Mar 20, 2020 1:48pm

allan26554

Original Poster

Posts: 10

2 helpful points

Location: Torrevieja

Joined: 19 Mar 2020

Posted: Fri Mar 20, 2020 1:48pm

MeathMaria wrote on Fri Mar 20, 2020 11:02am:

Hello Allan

I agree with all Vivienne said.    In meantime search this site for lots of answers already given to questions you may have.  

Read  Jim's Guides

And hereMoving to Torrevieja

Stay safe and well.

Regards

Maria

Thanks for reply Maria.  Yes I am doing just that. The site is very helpful and I am so pleased that people like yourself and others seem very willing to help.  Thank you.  

Fee

Posted: Sun Mar 22, 2020 12:54pm

Fee

Posts: 3

1 helpful points

Location: Torrevieja

Joined: 10 Aug 2019

Posted: Sun Mar 22, 2020 12:54pm

I bought our dream home in September.  I'm in Paraje-natural which is next to el limonar.   My house has the most amazing view over the pink salt lake.  It is ideal for shops restaurants and Habaneras shopping centre is within walking distance.  I'm also only 10 minutes drive to the beach. Certainly recommend you look around this area.  Good luck and stay safe xx

allan26554

Posted: Sun Mar 22, 2020 10:02pm

allan26554

Original Poster

Posts: 10

2 helpful points

Location: Torrevieja

Joined: 19 Mar 2020

Posted: Sun Mar 22, 2020 10:02pm

Fee wrote on Sun Mar 22, 2020 12:54pm:

I bought our dream home in September.  I'm in Paraje-natural which is next to el limonar.   My house has the most amazing view over the pink salt lake.  It is ideal for shops restaurants and Habaneras shopping centre is within walking distance.  I'm also only 10 minutes d...

...rive to the beach. Certainly recommend you look around this area.  Good luck and stay safe xx

Hi Fee

Thank you so much for your helpful reply.  I had hoped to visit later this year but this is beginning to look unlikely due to the current situation.  I will note your suggestion to look at the locality where you purchased your home.  It certainly sounds idyllic.  Again many thanks for your reply. I am amazed how helpful people on this forum can be.  Take care of yourself and stay safe.  Allan   

Te Dog Artist

Posted: Wed Mar 25, 2020 10:55pm

Posts: 36

26 helpful points

Location: Torrevieja

Joined: 14 Sep 2019

Posted: Wed Mar 25, 2020 10:55pm

Are you wanting to buy with. a Spanish mortgage, or cash?

If you establish your BEST maximum price to pay, and then take off 20%, then that will be the maximum price for a property you will be able to afford. In other words, if you can comfortably afford 100,000 euros, you must look for properties of the value of 80,000 euros. 20% is a 'protection' safety belt allowing for the fees and taxes you will have to pay on top of the asking price. Very often, sellers will take a reasonable reduced offer, depending upon how desperate they are to sell.

At the other end of the fees and taxes subject...you must consider if you are prepared to take a big loss on the value due to taxes and impuestos should you decide you want to re-sell.. you will have to pay those fees again, but slightly less than the purchase costs and taxes. Combine the two, accepting that the re-sale value (100,000 euros) will be at least the same as the price you paid initially, you will take a combined hit on your original funds of buying and selling fees etc, of approximately 30,000 euros. For 30,000 euros, you could rent a reasonable property for 5 years. Add in the impuestos and taxes you will pay as an owner, you stand to lose a LOT of money, if you decide to buy.

Next: properties available to buy. These generally fall into 2 categories: privately owned, or Bank repossessions. The latter might have more attractive prices on first glance, but can take months to complete the purchase. There are many unregistered ' Estate Agents' here, whom are not affiliated to API. BEWARE. THEY ARE NOT PROFESSIONALS in the accepted terminology, and quite possibly don't have legal rights to conduct a sale, although they can secure properties on behalf of customers.

Plenty more to say,but hope this might offer some sound advice about purchasing a property over here. We just sold our house in Tarragona Catal┼źna, and bought one down here. It truly is a minefield for people whom are not aware of all the problems involved.

allan26554

Posted: Thu Mar 26, 2020 3:31am

allan26554

Original Poster

Posts: 10

2 helpful points

Location: Torrevieja

Joined: 19 Mar 2020

Posted: Thu Mar 26, 2020 3:31am

Te Dog Artist wrote on Wed Mar 25, 2020 10:55pm:

Are you wanting to buy with. a Spanish mortgage, or cash?

If you establish your BEST maximum price to pay, and then take off 20%, then that will be the maximum price for a property you will be able to afford. In other words, if you can comfortably afford 100,000 euros, you must look for properties of the value of 80,000 euros. 20% is a 'protection' safe...

...ty belt allowing for the fees and taxes you will have to pay on top of the asking price. Very often, sellers will take a reasonable reduced offer, depending upon how desperate they are to sell.

At the other end of the fees and taxes subject...you must consider if you are prepared to take a big loss on the value due to taxes and impuestos should you decide you want to re-sell.. you will have to pay those fees again, but slightly less than the purchase costs and taxes. Combine the two, accepting that the re-sale value (100,000 euros) will be at least the same as the price you paid initially, you will take a combined hit on your original funds of buying and selling fees etc, of approximately 30,000 euros. For 30,000 euros, you could rent a reasonable property for 5 years. Add in the impuestos and taxes you will pay as an owner, you stand to lose a LOT of money, if you decide to buy.

Next: properties available to buy. These generally fall into 2 categories: privately owned, or Bank repossessions. The latter might have more attractive prices on first glance, but can take months to complete the purchase. There are many unregistered ' Estate Agents' here, whom are not affiliated to API. BEWARE. THEY ARE NOT PROFESSIONALS in the accepted terminology, and quite possibly don't have legal rights to conduct a sale, although they can secure properties on behalf of customers.

Plenty more to say,but hope this might offer some sound advice about purchasing a property over here. We just sold our house in Tarragona Catal┼źna, and bought one down here. It truly is a minefield for people whom are not aware of all the problems involved.

Hi

Very many thanks for your helpful advice. 

anna66

Posted: Fri Mar 27, 2020 8:18am

anna66

Helpful member

Posts: 130

51 helpful points

Joined: 2 Nov 2016

Posted: Fri Mar 27, 2020 8:18am

Hi Allan, bit of a sticky situation just now but it will no doubt pass in time. We have an apartment in the La Mata area which is 10 mins from Torrejvieja, it's 2 double bedrooms 1 bathroom bath and shower, an independant kitchen, lounge and decent sized balcony. It's on the ground floor but has 6 steps or a ramp up to it, ample parking, 1 kl outside of La Mata, bus stop 100mtrs bus to Torrevieja or Guardamar del segura. It's a 3 story building and very quiet, all the apartments are Spanish owned, La Piscina restaurant is 50 mtres away, run by Jackie (a Welsh lady) and David (Spanish) nice to sit and have a beer or two. The beach is 8 mins walk on a boardwalk over the sand dunes, We have had a satalite dish installed and have 100 chanals + wifi, it can be turned on and off as needed. If you're interested I'll send you some photos, only reason we're considering selling is my hubby's health but we're certainly not in any rush.

Should have been going now in April but our flights have been cancelled so looking at going over at a later date.

Best regards

Anna

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