Buying on resort - Page 2

Its what you’re asking about...Hacienda del Riquelme...HdR

Lol i said it was dull

I see your a golfer where is the best option for a holiday purchase 

Im looking all over the region and got a budget of 125 k 

Looking to maximise access to coast and golf 

We live on Mar Menor Golf so I’m biased look at Murcia Golf Properties or The Resorts for an idea of prices. About 7 mins drive to Los Alcazares etc but you do need a car ...lots of bars and restaurants  inside and just outside the resort.

Roda golf  is a bit nearer to the town but still quite a walk 

Hi Criss

Mar Menor looks really attractive ive been in touch with a lady called Hilary from M G P who searches for properties 

I will have a closer look ty

Have a look at Premier homes in Spain it’s Mark and Victoria Edgely they’re very helpful and they live here

Remember that as soon as you think about renting out your property you have to a. have it inspected and assessed to rental standards and you must then obtain a property rental licence.

If you rent without these and the new band of inspectors catch you it is off to court and fines this year average 120,000€ plus a fine to anyone people staying in yourvproperty illegally usually 20,000€ fine.

Contact regional tourist board to get details and avoid fines or worse prison.

Renting without a licence in Spain is now classified as full tax evasion and dealt with severely if caught!

tourist licence only needed for holiday let not if its a long rent as he says

Check out long term renting as well falling into recent Spanish national and regional laws for setious tax evasion and massive fines/prison. Initially holiday rentals but much debate and discussion regarding including long term rents and income.

Hope this is helpful?

We did the rounds of all the golf courses earlier in the year. La torre is the best for quality and facilities. Hacienda del alhama is the cheapest for property and Riquelme is in the middle.

We stayed on riquelme for a week whilst we looked around. Only one bar and that gets busy quickly. Useful supermarket. Food in the bar is ok but gets boring quickly.

Sucina has lots going for it and is a short drive away - 2-3 miles but not easy roads to walk on. We didn’t see or find taxis easy to get. 

Community fees on resorts are €90-120 per month but cover security, grounds, exterior maintenance, WiFi and TV channels.

All the golf resorts have the same issue regarding access to a local town unless driving. 

La torre has lots of restaurants, a hotel and much more going on than the other resorts but comes at a price.

You pay council tax - maybe €150 a year (it’s that a month in the UK). If you want to rent out, you have to register and meet the criteria. You then can’t get out of paying Spanish income tax on income and very little allowance for costs is permitted. You need to think about a local key holder, handover, cleaning etc and all that costs money.

2 beds rent out for €4-500 a month long term or €300 a week on average during the year - you need to take your monthly resort fees out of that of course.

There’s a lot of competition for rentals but good properties on good reports have high occupancy rates if you go through Airbnb, booking. On or similar etc - but you pay fees.

At the moment, everything is dead because of covid restrictions and who knows how the market will pick up afterwards. You won’t make much of a profit even in a good year and property prices on most roots are now 1/3 of what they were when they were knew. You could argue they can’t go any lower but I wouldn’t bet on it. No one knows what prices will look like in 6 months time when the dust has settled.

Spanish banks don’t tend to do free banking. If you buy a property through an agent, they will introduce you to legal who can organise your NIE (Spanish Nat ins number) and your bank account etc.

We came to the conclusion it would be an expensive indulgence and on balance we wouldn’t be able to visit much. A weekend away is really fri-mon, so 2 days out of school/work, get to airport, flight, get form airport.... even if you live close to an airport it’s 7 hours there and 7 hours back door to door.

If you do buy factor in 13-15% of purchase price for costs. When euro was 1.13 to the £ it was simple. €80,000 = £80,000

If you expect to make a profit on resale - selling a property in Spain cost money and can take a while.

If you expect to earn a fortune form renting, you may cover your costs.

If you expect to get away regularly for the odd weekend, you may bu5 it will get boring quickly and cost you £500 an episode.

If you want a bolt hole in Spain where you can go for extended periods then go for it.

Hi Stevie,

Been following your post.

I am in the same situation, looking to buy in Costa Calida, so much to take in. Would you be so kind as to forward me your perspective document when you went through the purchase process?

Regards

Graham.