Reply To: Considering first Spanish property, advice please.



@luckstar wrote:

@flosmichael wrote:

@luckstar wrote:

but I’d love the rental income to cover the mortgage (after tax). .

This is impossible. It would be a great situation but it is impossible.

Is this because the rental potential of such a place in not likely to cover the mortgage? Please explain why?

1) Community fees are quite high. 100+ Euros per month.

2) REntals are low. In Torrevieja that you mentioned there are 1000s of properties for rent. Some of them give less than £1000/year i.e. less than community fees (let alone cost of utilities plus tear and wear).

Save more money and buy a better property without expecting it to yield any income.