Join the Camposol forum
My name's Alex and this is my website all about Camposol in Spain. Register now for free to talk about General property discussion in Camposol and much more!
Hello all
We are in a one bed Fiesta which we love, but would like an extra room added.
Is it cheaper to build up or is it cheaper to go down?
We would prefer an under build done by a decent builder, as that way, we do not loose any land.
We would’ve sold and moved to a bigger place, but I never knew till after the valuation what a rip off GGT is!
Thank you
Colin
ColinandTina wrote on Wed Aug 30, 2023 5:40pm:
Hello all
We are in a one bed Fiesta which we love, but would like an extra room added.
Read more...
Is it cheaper to build up or is it cheaper to go down?
We would prefer an under build done by a decent builder, as that way, we do not loose any land.
We would’ve sold and moved to a bigger place, but I never knew till after the valuation what a rip off GGT is!
Thank you
Colin
Maybe look into the rules of Capitol Gaines Tax some more? I'm no tax expert but if you are a Spanish resident and you invest the value increase of your property into a new property in Spain you do not have to pay CGT, at least that's what I have been told. But once again, I'm no expert, maybe check this info with a tax expert.
Posted: Wed Aug 30, 2023 9:55pm
Bugsy wrote on Wed Aug 30, 2023 9:39pm:
Maybe look into the rules of Capitol Gaines Tax some more? I'm no tax expert but if you are a Spanish resident and you invest the value increase of your property into a new property in Spain you do not have to pay CGT, at least that's what I have been told. But once again, I'm no expert, maybe ch...
Read more...
...eck this info with a tax expert.
Hi Bugsy
Im non resident, so there is no way out of it.
We would rely on selling to get something bigger, but once the Capital Gains is put in the Spanish coffers, we can’t afford to sell.
Hense why thinking of extending, with planning of course, it may be the better option for us.
I did ask my solicitor- CGT has to be paid.
ColinandTina wrote on Wed Aug 30, 2023 9:55pm:
Hi Bugsy
Im non resident, so there is no way out of it.
Read more...
We would rely on selling to get something bigger, but once the Capital Gains is put in the Spanish coffers, we can’t afford to sell.
Hense why thinking of extending, with planning of course, it may be the better option for us.
I did ask my solicitor- CGT has to be paid.
That is correct. If you are a non resident there is no way around paying the CGT.
Advertisement - posts continue below
Not sure where your Fiesta is, but the ones that are built on D 27 +++. Are not suitable for an upper extension, the stantions will not carry the weight. ( My partner, a retired builder says this). However, quite a few people have dug out their under builds, and some are really fantastic. Not sure about the legality of the build, but they do look good.
Posted: Fri Sep 1, 2023 7:27pm
Ali52 wrote on Fri Sep 1, 2023 7:22pm:
Not sure where your Fiesta is, but the ones that are built on D 27 +++. Are not suitable for an upper extension, the stantions will not carry the weight. ( My partner, a retired builder says this). However, quite a few people have dug out their under builds, and some are really fantas...
Read more...
...tic. Not sure about the legality of the build, but they do look good.
Thank You!
We are on A.
We have a builder coming next Weds, so we will see…..
We probably won’t be able to afford it, but you never know….
Regards
Colin
ColinandTina wrote on Fri Sep 1, 2023 7:27pm:
Thank You!
We are on A.
Read more...
We have a builder coming next Weds, so we will see…..
We probably won’t be able to afford it, but you never know….
Regards
Colin
Well good luck! But be careful with the builders. Make sure you have references. Some will say anything to get a job then disappear. But good luck. But if you look at the plans they are not built for another storey. So take care.
Find more General property discussion topics from a particular area:
Or view all General property discussion topics in all of Costa Cálida.
