How did you feel when you bought?

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This topic contains 11 replies, has 8 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 1 month ago.

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  • #55249
    Profile photo of Anonymous
    Anonymous
    Participant

    be interested to see how my mental state stacks up with others here…

    Going through the buying process, did you spend most time worrying whether you were doing the right thing or were you mainly focused on the excitement of owning in Spain?

    😯

  • #94654
    Profile photo of Melosine
    Melosine
    Participant

    I would say that if you are concerned whether or not you are doing the right thing then perhaps you are not ready yet to commit.

    Having said that IF I knew then what I know now about the problems people have had probably would never have ventured passed passed the dreaming stage.

  • #94655
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi,

    I purchased in 2005 for Lifestyle purpose for use as holiday home with kids, family package holidays are expensive. I did alot of research on area beforehand and location between two airports was ideal. We didn’t have any hassle with developers, house was already built. I Have spent last 4 years thoroughly enjoying it and love the location, haven’t rented it out yet as it really is a home from home for us. However with the downturn in the economy globally, job security, wage cuts am beginning to have second thoughts and will probably rent it out next year. Didn’t take out spanish mortgage, took out mortgage in own country instead. I knew beforehand what taxes you had to pay with owning a holiday home, you’d be surprised the amount of people that don’t, I do find that going on holidays when kids are off, flights are always at a premium which makes it expensive.

    Hope that answers your questions

  • #94659
    Profile photo of Anonymous
    Anonymous
    Participant

    I bought for life style/retirement & an hedge against future price rises. My first purchase was mortgage free when Peseta was 260 to a Pound.

    Due to subsequent over build, poor construction quality and having the doubled the price I sold my property & moved into a low density & better location. For this I needed a mortgage. This mortgage was out of choice to utilise cheap money.

    I, have absolutely no regret in buying. I had previously bought & sold in Costa Blanca, have many Spanish friends in all walks of life so was very much aware of the business practises, black money etc, etc. Did not buy from an Agent, did my own research & had an open mind about area, type of property.

    One thing I was adamant. To not to buy in an English/Spanish/German ghetto. Always bought in a area that was cosmopolitan. Future buyers should realise that Spain is more than the sunny climate.

    All things being equal would I buy again. Definitely yes.

  • #94660
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi,

    Have to agree with Shakeel about not buying in an english/spanish/german ghetto. We did buy in an urbanisation but thankfully I knew that there was going to be a good mix of nationalities, swedish, german, spanish, english, scottish, welsh, irish, russian, norwegian, belgian and that is only in our phase, they all make for good neighbours. We were mortgage free on our house here in ireland before we took out mortgage for spain.

    Angela

  • #94661
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @lonegroover wrote:

    be interested to see how my mental state stacks up with others here…

    Going through the buying process, did you spend most time worrying whether you were doing the right thing or were you mainly focused on the excitement of owning in Spain?

    😯

    I’m probably a bit different from the norm. I had been already lviing in Spain for about 5 years prior to buying my first home here.

    I was quite impulsive on my first purchase. I went to see the property, and I knew it was the one for me. Quickly went to get my partner to see it, she loved it aswell. Put down a deposit and went straight to completion with no second thoughts.
    I knew it was for me, and that was that. I even knew I was buying at a good price, so even if the market start turning bad (was flattening at the time) I would be able to sell a recoup my money, etc…

  • #94666
    Profile photo of Anonymous
    Anonymous
    Participant

    So, its true that women make up their minds in the first few seconds wheter its a life partner or a nest !!!!!!!!!!!!!!!!!!!!

  • #94668
    Profile photo of Anonymous
    Anonymous
    Participant

    I’m going through the process at the moment and swing between feeling excited to ‘What are you doing you nutter!’ 😯

    If I get a hint of any problems during the buying process, then I’m out!!!

  • #94669
    Profile photo of Anonymous
    Anonymous
    Participant

    Maximus: Does your process include partner swinging or the nest ?????.

  • #94671
    Profile photo of petej
    petej
    Participant

    Brought 3 months ago so all fresh in my mind, we bought for holidays and not to live, did a lot of research/visits on area over a period of 2 years to be as sure as you can be on getting it right, used a very good independent lawyer which helps no end, have friends that have a place not far from us so had a insight into the Spanish way of doing things or not doing things as it would seam most of the time.

    We had no need for a mortgage but I must admit if I was going to lend anything over say 30-35% of the value of the property I would not do it, far to risky at the moment to plough borrowed money into, if it’s the main home then not so bad but not for a holiday home

    We are very happy at the moment and have no regrets

    Peter

  • #94693
    Profile photo of Anonymous
    Anonymous
    Participant

    Interesting comment. I had been wondering whether it would be more risky putting more of my own capital in at the moment, rather than using the banks….

  • #94711
    Profile photo of Anonymous
    Anonymous
    Participant

    The feelings you have are called “buyers remorse” everyone gets it at some point.
    Did it myself 6 years ago after buying the first property i saw here….now as happy as Larry!!

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