Should I cancel my apt purchase - Page 2

We are in the same position we bought a townhouse in los balcones 2 weeks ago and suppose to be coming out in January to complete sale. We are still going ahead with is as love area and life to short. Nobody knows what's around the corner so we decided carry on with purchase

Penny

‘Hi Penny73

So have we as you say life’s to short so there you go

At least we will have our    …..place in the sun…… Excuse the pun….

And we will be able to spend at least 6months there then and just get on a plane and go when all this covid is sorted

Regards

Janice

Hi ok Peter 

Will do

Thanks

Janice the annual running cost of a 2 bed apartment averages out at between €1100-€1500. If you do your annual Non Resident tax yourself or get one of the companies recommended on here you will make savings and also ditch the Spanish Bank Account.

Annual Non Resident tax €150 approx for 2 people plus €30 for company to fill in the tax return.

Local rates/IBI/SUMA- depending on area and your Cadastral Value - Torrevieja works out approx €150. Provision of water and rubbish by Town Hall €40

Community Charges €500-€600

Insurance. €150

Water about €30 a quarter when you are not there. Maybe €60/70 for the quarter you are there

Electricity similar to water - we pay €8 month when not there and when you are there add on an extra €100 for the year

Add on whatever extras then like keyholding.

We gave up on the keyholding 20yrs ago so now we just l turn off everything  and lock up and go.

If you can don't have a Spanish bank account. It's a needlesd and expensive item. Use a company like Wise to pay your Direct Debits.

If I have left out anything someone will advise.

Sorry Peter I quoted the wrong post!

Bee

No problem. Another bank account to consider is Revolut.

Keyholding depends if you want the insurance of someone looking after your property when you are not here?

Hi Thanks both

A bit confused as to which one of you sent that information

This is great information give me an idea of annual costs

Actually going to use the wise account as my son already has one with them

So fingers crossed we can come over in the New Year

Regards Janice

Hi Bee2

Have to ask which electric company are you with.  £8 per month for electric would be great.  Even if I switch my electric off it still costs me nearly £30 a month when I am not there.

Denise

Yes I was thinking the same, we have had our place 18 months or so now  - ours has been 30-40 euros per month standing charge I think when we are not there . Highest bill we had was for the month July/ august this year - 3 bedrooms when we had friends over , running air con at night with living room now and then during the day and it was 140 euros which I didn’t think was too bad .  Tends to be about 50 odd euros approx when it’s just the wife and I there. 

We are with Iberdrola/Curenergia. I was going from memory but it varies up and down €12, €20. Etc.  Unfortunately electricity is becoming very expensive.

Bee