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Looking advice on Holiday homes/ Permanent move

Posted: Wed Feb 24, 2021 5:47pm
6 replies397 views5 members subscribed
Ant73

Posts: 3

Location: Villamartin

Joined: 24 Feb 2021

Good afternoon all

I am hoping to get some advice on buying in the area.

We are an Irish family looking to buy a holiday home in the Villamartin area where we can permanently move or retire to.

So far have only looked at properties online, but now are ready to take to the next stage.

Can someone recommend a good mortgage advisor in the area? Preferably one who deals with self employed people. My job is remote so I can work anywhere.

Areas to recommend/ avoid?

Taxes/ charges we need to take into consideration etc.

Really appreciate any feedback guys

Thanks in advance. 

Ant

Kimmy11

Posted: Thu Feb 25, 2021 8:28pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Thu Feb 25, 2021 8:28pm

Hi Ant and welcome to the forum,

First thing's first - congratulations!  You're Irish, so you're not subject to all the post-Brexit impact affecting UK citizens.

I'll leave advice about different areas of Villamartin to those who live there and while I can't recommend a mortgage advisor, I can give you some general advice.

Regarding being self-employed, this is called "autonomo" in Spain and it's expensive.  You have to make the equivalent of National Insurance contributions each month, whether you earn any income or not.  The amount is discounted for the first year of trading, but increases steeply from then on.  On the upside, it does give you access to the State healthcare system for yourself and your dependants.  Depending on your specific circumstances, you may need a tax advisor - we use Abaco Advisers in Torrevieja, as they know both Spanish and UK tax law.

If you initially buy your property as a holiday home and remain resident in Ireland, there are a number of outgoings involved:

Utilities - Electricity in Spain is on a par with the UK, Water is cheaper, but in both cases the standing charges are high.  Holiday home owners are often surprised at the amount of their bills when they haven't visited their property.

Council Tax - called "IBI" (Impuesto sobre Bienes Inmuebles) in Spain and collected by the SUMA agency on behalf of Town Halls in the Alicante region, is much cheaper in Spain, e.g. in 2016, my Council Tax in England was almost £3,000 per year, in Spain, it's Eu 365.

Refuse collection - called "Basura" and, depending on where you live, will be billed either by your Town Hall or Water company.  I think this is incredible value for money - we have our bins emptied every day for only Eu 70 per year.

Non-resident tax - this tax is based on the catastral (land registry) value of your property.  Typically, you're talking low hundreds, rather than thousands, of Euros per year.  It's paid a year in arrears, so if you were to buy this year, the deadline for payment would be end December 2022 (the Spanish tax year runs from 1 January to 31 December).

Banking - Spanish bank accounts are not free and Non-residents, in particular, have to pay fees of around Eu 40 per quarter just for having an account.  Typically, it's cheaper for Residents, e.g. we pay Eu 15 per quarter with Banco Sabadell.

Internet services - can be combined with a landline, mobile and TV packages.  Non-residents can contract for an "on/off" service, so that they only pay for it when they're at their property.

You'll also need Home insurance, which is a combined buildings and contents insurance cover.

All of the above costs will be applicable if you decide to move permanently to Spain, although you'll then have to pay Residents' income tax in Spain, rather than Non-residents. 

There could be other charges.  For example, if you buy on a "community" with communal facilities, such as a pool, gym, gardens, etc. there will be maintenance fees to pay.

I hope this has given you a good idea to start.

My top tip for when you're ready to purchase - use an independent lawyer, not one tied to the selling agent.

Good luck!

Kind regards,

Kim

Ant73

Posted: Thu Feb 25, 2021 9:05pm

Ant73

Original Poster

Posts: 3

Location: Villamartin

Joined: 24 Feb 2021

Posted: Thu Feb 25, 2021 9:05pm

Kimmy11 wrote on Thu Feb 25, 2021 8:28pm:

Hi Ant and welcome to the forum,

First thing's first - congratulations!  You're Irish, so you're not subject to all the post-Brexit impact affecting UK citizens.

I'll leave advice about different areas of Villamartin to those who live there and while I can't recommend a mortgage advisor, I can give you some general advice.

Regarding being self-employed, this is called "autonomo" in Spain and it's expensive.  You have to make the equivalent of National Insurance contributions each month, whether you earn any income or not.  The amount is discounted for the first year of trading, but increases steeply from then on.  On the upside, it does give you access to the State healthcare system for yourself and your dependants.  Depending on your specific circumstances, you may need a tax advisor - we use Abaco Advisers in Torrevieja, as they know both Spanish and UK tax law.

If you initially buy your property as a holiday home and remain resident in Ireland, there are a number of outgoings involved:

Utilities - Electricity in Spain is on a par with the UK, Water is cheaper, but in both cases the standing charges are high.  Holiday home owners are often surprised at the amount of their bills when they haven't visited their property.

Council Tax - called "IBI" (Impuesto sobre Bienes Inmuebles) in Spain and collected by the SUMA agency on behalf of Town Halls in the Alicante region, is much cheaper in Spain, e.g. in 2016, my Council Tax in England was almost £3,000 per year, in Spain, it's Eu 365.

Refuse collection - called "Basura" and, depending on where you live, will be billed either by your Town Hall or Water company.  I think this is incredible value for money - we have our bins emptied every day for only Eu 70 per year.

Non-resident tax - this tax is based on the catastral (land registry) value of your property.  Typically, you're talking low hundreds, rather than thousands, of Euros per year.  It's paid a year in arrears, so if you were to buy this year, the deadline for payment would be end December 2022 (the Spanish tax year runs from 1 January to 31 December).

Banking - Spanish bank accounts are not free and Non-residents, in particular, have to pay fees of around Eu 40 per quarter just for having an account.  Typically, it's cheaper for Residents, e.g. we pay Eu 15 per quarter with Banco Sabadell.

Internet services - can be combined with a landline, mobile and TV packages.  Non-residents can contract for an "on/off" service, so that they only pay for it when they're at their property.

You'll also need Home insurance, which is a combined buildings and contents insurance cover.

All of the above costs will be applicable if you decide to move permanently to Spain, although you'll then have to pay Residents' income tax in Spain, rather than Non-residents. 

There could be other charges.  For example, if you buy on a "community" with communal facilities, such as a pool, gym, gardens, etc. there will be maintenance fees to pay.

I hope this has given you a good idea to start.

My top tip for when you're ready to purchase - use an independent lawyer, not one tied to the selling agent.

Good luck!

Kind regards,

Kim

Hi Kim.  This is all great advice.

We have a lot to think about.

Thanks for your help.

Ant

Grannyrose

Posted: Fri Feb 26, 2021 11:40am

Grannyrose

Super helpful member

Posts: 1256

1568 helpful points

Location: Torrevieja

Joined: 5 Dec 2017

Posted: Fri Feb 26, 2021 11:40am

Good morning Ant,

We live in NI so almost neighbours!  We bought a great house in Torrevieja/ la Mata area almost 20 years ago. We don’t plan to move permanently but enjoy regular visits and love being over there.

Do you have children? If so, it’s very important that you find an area with good schools. You may choose an English school but I don’t think there are any in our area but we do have a multitude of schools close by. There’s a beautiful nursery school / primary and the police close the top and bottom of the toad off when school ends. They treat their children a lot better than we do at home. A lollipop man is a luxury! There are secondary schools are within walking distance and a college near them. You see the teenagers arriving on their scooters. All very civilised indeed.

Villa Martin is on the south side of Torrevieja and as far as I’m aware has a lot of expats who live and holiday there. Good golf course close by.

We are on the north side of Torrevieja so closer to the coast and airport.  Our area isn’t very English/ Irish but there is an urbanisation near us with shamrock on the walls so could have lots of Irish in it but not living there, I don’t know. Lots of Scandinavians have begun buying which is a good thing as they will pay unlike the people on A PLACE IN THE SUN who expect to buy a 3 bed, 2 bathroom house for  €75,000. Dreamers.  Of course it is possible but not in the best location.  On the north side, we have miles of natural Sandy beaches within walking distance. It’s not a massive holiday styled place, it’s where people live and enjoy noiseless nights without drunks making their way home in the early hours singing and shouting. Thank goodness that rarely happens. We naturally have lots of amenities. Being Torrevieja , there’s a huge municipal swimming pool, football pitches, tennis courts, magnificent theatre, private hospital and everything you’d expect to find in a large, busy town. Great bus services too. The Spanish teenagers are polite and well behaved. 

I presume you plan to buy and enjoy while your family are educated at home. Check out our side of town as it’s perfect for future retirement. We can walk into Torrevieja if we don’t want to drive( half an hour). Walk to fab shopping centre HABANERAS too. Walk to beach, restaurants, bank, supermarket, coastal cliff walks, and much more. We’ve become lazier as we’ve got older and tend to drive to the beach with all our clobber but we used to walk years ago and loved it. 

Look for a property that will be easily heated in the winter ie preferably no stairs leading into sitting room ( it’s cold at night in autumn, winter) a place to store bikes, deck chairs, luggage. Solarium to put sun loungers on.and Clothes line too. 
Make a sensible list..sunny outside patio , neighbours not looking into your home, privacy on your solarium, room for an extra fridge/ freezer for summer use ( water, beer, wine) washing machine, all the things you will want in the future. look at neighbours homes, see if oeople live in them, are they tidy, noisy , do your homework and you won’t regret buying the wrong home in the wrong place. Be prepared to spend more if necessary but remember, it’s difficult to make a profit on your resale. Make sure you won’t want to sell it. Good hunting. 

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Jimmy Mack

Posted: Mon Mar 1, 2021 7:32pm

Jimmy Mack

Helpful member

Posts: 196

141 helpful points

Location: Villamartin

Joined: 30 Dec 2019

Posted: Mon Mar 1, 2021 7:32pm

Kimmy11 wrote on Thu Feb 25, 2021 8:28pm:

Hi Ant and welcome to the forum,

First thing's first - congratulations!  You're Irish, so you're not subject to all the post-Brexit impact affecting UK citizens.

I'll leave advice about different areas of Villamartin to those who live there and while I can't recommend a mortgage advisor, I can give you some general advice.

Regarding being self-employed, this is called "autonomo" in Spain and it's expensive.  You have to make the equivalent of National Insurance contributions each month, whether you earn any income or not.  The amount is discounted for the first year of trading, but increases steeply from then on.  On the upside, it does give you access to the State healthcare system for yourself and your dependants.  Depending on your specific circumstances, you may need a tax advisor - we use Abaco Advisers in Torrevieja, as they know both Spanish and UK tax law.

If you initially buy your property as a holiday home and remain resident in Ireland, there are a number of outgoings involved:

Utilities - Electricity in Spain is on a par with the UK, Water is cheaper, but in both cases the standing charges are high.  Holiday home owners are often surprised at the amount of their bills when they haven't visited their property.

Council Tax - called "IBI" (Impuesto sobre Bienes Inmuebles) in Spain and collected by the SUMA agency on behalf of Town Halls in the Alicante region, is much cheaper in Spain, e.g. in 2016, my Council Tax in England was almost £3,000 per year, in Spain, it's Eu 365.

Refuse collection - called "Basura" and, depending on where you live, will be billed either by your Town Hall or Water company.  I think this is incredible value for money - we have our bins emptied every day for only Eu 70 per year.

Non-resident tax - this tax is based on the catastral (land registry) value of your property.  Typically, you're talking low hundreds, rather than thousands, of Euros per year.  It's paid a year in arrears, so if you were to buy this year, the deadline for payment would be end December 2022 (the Spanish tax year runs from 1 January to 31 December).

Banking - Spanish bank accounts are not free and Non-residents, in particular, have to pay fees of around Eu 40 per quarter just for having an account.  Typically, it's cheaper for Residents, e.g. we pay Eu 15 per quarter with Banco Sabadell.

Internet services - can be combined with a landline, mobile and TV packages.  Non-residents can contract for an "on/off" service, so that they only pay for it when they're at their property.

You'll also need Home insurance, which is a combined buildings and contents insurance cover.

All of the above costs will be applicable if you decide to move permanently to Spain, although you'll then have to pay Residents' income tax in Spain, rather than Non-residents. 

There could be other charges.  For example, if you buy on a "community" with communal facilities, such as a pool, gym, gardens, etc. there will be maintenance fees to pay.

I hope this has given you a good idea to start.

My top tip for when you're ready to purchase - use an independent lawyer, not one tied to the selling agent.

Good luck!

Kind regards,

Kim

Fantastic reply from Kim, really full of helpful knowledge. 

Kind Regards 

  Jim

Kimmy11

Posted: Mon Mar 1, 2021 7:41pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Mon Mar 1, 2021 7:41pm

Jimmy Mack wrote on Mon Mar 1, 2021 7:32pm:

Fantastic reply from Kim, really full of helpful knowledge. 

Kind Regards 

  Jim

De nada Jim 😘

Ant73

Posted: Mon Mar 1, 2021 7:52pm

Ant73

Original Poster

Posts: 3

Location: Villamartin

Joined: 24 Feb 2021

Posted: Mon Mar 1, 2021 7:52pm

Grannyrose wrote on Fri Feb 26, 2021 11:40am:

Good morning Ant,

We live in NI so almost neighbours!  We bought a great house in Torrevieja/ la Mata area almost 20 years ago. We don’t plan to move permanently but enjoy regular visits and love being over there.

Do you have children? If so, it’s very important that you find an area with good schools. You may choose an English school but I don’t think there are any in our area but we do have a multitude of schools close by. There’s a beautiful nursery school / primary and the police close the top and bottom of the toad off when school ends. They treat their children a lot better than we do at home. A lollipop man is a luxury! There are secondary schools are within walking distance and a college near them. You see the teenagers arriving on their scooters. All very civilised indeed.

Villa Martin is on the south side of Torrevieja and as far as I’m aware has a lot of expats who live and holiday there. Good golf course close by.

We are on the north side of Torrevieja so closer to the coast and airport.  Our area isn’t very English/ Irish but there is an urbanisation near us with shamrock on the walls so could have lots of Irish in it but not living there, I don’t know. Lots of Scandinavians have begun buying which is a good thing as they will pay unlike the people on A PLACE IN THE SUN who expect to buy a 3 bed, 2 bathroom house for  €75,000. Dreamers.  Of course it is possible but not in the best location.  On the north side, we have miles of natural Sandy beaches within walking distance. It’s not a massive holiday styled place, it’s where people live and enjoy noiseless nights without drunks making their way home in the early hours singing and shouting. Thank goodness that rarely happens. We naturally have lots of amenities. Being Torrevieja , there’s a huge municipal swimming pool, football pitches, tennis courts, magnificent theatre, private hospital and everything you’d expect to find in a large, busy town. Great bus services too. The Spanish teenagers are polite and well behaved. 

I presume you plan to buy and enjoy while your family are educated at home. Check out our side of town as it’s perfect for future retirement. We can walk into Torrevieja if we don’t want to drive( half an hour). Walk to fab shopping centre HABANERAS too. Walk to beach, restaurants, bank, supermarket, coastal cliff walks, and much more. We’ve become lazier as we’ve got older and tend to drive to the beach with all our clobber but we used to walk years ago and loved it. 

Look for a property that will be easily heated in the winter ie preferably no stairs leading into sitting room ( it’s cold at night in autumn, winter) a place to store bikes, deck chairs, luggage. Solarium to put sun loungers on.and Clothes line too. 
Make a sensible list..sunny outside patio , neighbours not looking into your home, privacy on your solarium, room for an extra fridge/ freezer for summer use ( water, beer, wine) washing machine, all the things you will want in the future. look at neighbours homes, see if oeople live in them, are they tidy, noisy , do your homework and you won’t regret buying the wrong home in the wrong place. Be prepared to spend more if necessary but remember, it’s difficult to make a profit on your resale. Make sure you won’t want to sell it. Good hunting. 

Hi yes Im originally from NI and my wife is from Dublin!

We have 3 small kids (9,8,6) so are looking somewhere quiet but enough to keep them busy.

We have been looking at Villamartin, Playa Flamenca areas but are always looking.

Thanks for the feedback. We have a lot to work on

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