I’ve just registered on this site – pity no-one has replied to your queries but I’m afraid its a BIG subject. If you have any questions, please don’t hesitate to ask.
We bought our holiday home on A Place in the Sun in 2004 in a small town 5kms from Gandia. Despite the fact I had 6 months to research before filming and already knew the area from holidays past, Estate Agents (after filming) led us up the garden path a fair few times and wasted precious house-hunting time. If you have somewhere in mind I may know a little about the place As I have got older, I am wondering whether I want to be in a small town, would I be better in the city where I can walk to everything. Do you want to live on an urbanisation? A block of flats? Security if you want to use the property for holidays and are likely to leave the property empty. These points are just to give you ideas.
I know a lot of people rent before they buy. Its difficult I know to choose where to live because until you live in the area you don’t get to know whats good and bad about a place. You have to go and see a place and then set your budget (remembering that you can set up DDs through a bank) and set up an emergency fund in GDP. You also have to pay annual taxes but utilities are cheap. We found it easy to go with a bank whose staff all speak English and our Solicitor and his sister speak excellent English and tell you how it is, not what you want to hear!! DO NOT GET A MORTGAGE and expect your rental income (taxable) to repay your mortgage. Don’t sell up in the UK until you are sure. Our small town has lots of people selling up for one reason or another and they have no property to go back to in the UK
You have to ask yourself do you want to be near English people or do you want to try and integrate into the Spanish way of life!
We chose the Gandia area because we like history, walking, beach life and fishing and we thought it pretty central to Valencia, Alicante and inland to Xativa etc. Our first choice was Oliva but for one reason or another we went off the idea – too my English people.
Freeform productions showed us our property and we saw lots of property after filming privately, none of which came up to scratch in our price range, bearing in mind the emergency money etc. However…… that said we now have ours up for sale because we want to retire and find it too small (2 beds) for our growing family to visit. We are in the unfortunate position that we will have to pay Capital Gains Tax on any profit, less costs incurred.
Some estate agents also charge commission for buying and selling, so ask at the beginning. If you trawl the internet you will find the same property on lots of Estate Agents web sites, all at different prices.
I heard people say, “employ Spanish builders” unfortunately we did and then we had to employ an English company to remedy the errors. Expensive errors of judgement.
I could go on and on – best if you ask me a question/questions and then I will answer truthfully or email me from the web site http://www.valenciaholiday.co.uk