A place in the sun (1 Viewer)

[Covstu]

Me and the good lady were thinking about buying a place in the sun down the line, thinking Mallorca but just wondering whether anyone else has anything or know anyone who does? Any considerations around movement in the eu etc, taxes etc that need some thought?

 

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[Sick Boy]

Would there be a restriction on the number of days out of 365 you could enter the EU moving forwards? If you’re entitled to EU citizenship you should try and claim it.

My only suggestions are learn as much of the local language as possible and get air conditioning - it’s currently 32c in our apartment and we have no air conditioning.

 

[Alkhen]

Might not be what you are looking for but if you consider lakeside rather than coastal in Spain you get so much more for your money. my mum just brought a massive property which has 2 houses a pool an old olive mill, loads of land and a pool that needs a bit of renovating. It's around an hour from Granada airport. She sold up her ex council house brought this and still has money in the bank, crazy what we have to pay in the UK really.

Makes me wonder if this covid situation has got the ball rolling with people happily working from home. Could be a good time to buy myself..

 

[skybluetony176]

If you’re thinking about using it all year flights are not always consistent off peak to the Balearics. Parts of Costa Blanca are nice in the southern areas (ie not near Benidorm) and you’ll get more bang for your bucks. Serviced well by airports with Alicante and the new Mercia airport too and flights to both all year round. Also drivable either through France with an overnight stay or get the night ferry to the North coast then it’s about 13 hours. Somewhere near La Zenia would be my recommendation as La Zenia area has everything, really good shopping centre, couple of good beaches (although you’re spoilt for choice for nice beaches in Costa Blanca south), loads of golf courses if that’s your thing, beautiful walks around the salt lakes that are nearby and if you go inland the country side is also nice.

 

[Kneeza]

Something that me and her are seriously considering.
We're both retired (but live on one pension as she's been robbed of hers by the bastards that 'run' this country). So things are quite tight financially, especially as we still have a mortgage on our modest home as we accepted bad advice some years back - but I won't elaborate on that as it bites.
I, and her as she married me, have citizenship and passports of an EU country as well as the UK, so that's some of the problem out of the way.
I quite fancy inland Spain (but not too far inland) or mainland Greece.
Heart says the latter; head the former, especially as my best mate (best man!) already lives in Valencia.
We have a bit of cash in the bank, although not quite enough to pay off the millstone, so it's hard to come to a decision.
Mum lives in a house that I own outright, so one day I might have enough cash not to have to think twice, but the way she's going I reckon she'll out-live me
It's all a bit of a finger in the air thing ATM.
But I'm keen to make it happen...
Best of luck in your endeavours. Go for it!

 

[skybluetony176]

Something that me and her are seriously considering.
We're both retired (but live on one pension as she's been robbed of hers by the bastards that 'run' this country). So things are quite tight financially, especially as we still have a mortgage on our modest home as we accepted bad advice some years back - but I won't elaborate on that as it bites.
I, and her as she married me, have citizenship and passports of an EU country as well as the UK, so that's some of the problem out of the way.
I quite fancy inland Spain (but not too far inland) or mainland Greece.
Heart says the latter; head the former, especially as my best mate (best man!) already lives in Valencia.
We have a bit of cash in the bank, although not quite enough to pay off the millstone, so it's hard to come to a decision.
Mum lives in a house that I own outright, so one day I might have enough cash not to have to think twice, but the way she's going I reckon she'll out-live me
It's all a bit of a finger in the air thing ATM.
But I'm keen to make it happen...
Best of luck in your endeavours. Go for it!

I’d start by getting your house valued to see what money you have to play with. In Costa Blanca you don’t have to go very far inland to start saving money on a similar property by the coast. There’s loads of urbanisations full of ex pats about a 15 minute drive from the coast and you’ll save a small fortune by buying inland.

 

[Covkid1968#]

Had a Villa in Spain for years. It’s the not so obvious stuff if you are planning to live out there for periods of months. I know so many people who have done it only to move back to the UK. Personally wouldn’t do it if I had my time again.
1. Medical centre nearby
2. Hospital not too far
3. Good public transport
4. Taxi service
5. Place for emergency small shop nearby
6. Supermarket nearby
7. Utilities companies operating in area
8. Where are the council offices ( the Spanish love forms and having to physically go into see them
9. Local bank with cash machine
10. Weird local rules and taxes. E.g if I paint the villa I need a licence and pay a fee)
11. mains sewerage or septic tank. Absolute pain getting it emptied every few years
12. Stairs/steps to the property. So many people struggle in later life that it amazes me why they didn’t consider it at the time of purchase.

 

[Mild-Mannered Janitor]

Personally, it’s a lovely dream that many aim for but why tie up the capital unless you want the legacy to be left to others.

if you buy £100k place (and that’s low), how many months can you rent in different locations and be back in the UK for periods to see family and use medical if needed.

I hope when my wife and I retire to be able to spend the winters out in Spain/Turkey or somewhere warm and just rent a place for 2/3 months,
Even if you rented somewhere lavish at £1K a month then for 3 months a year the pot size will outlive us and still go to the children and if you rented long term for a year, you wouldn’t pay anywhere near that and would still have years of money and not paying interest of having capital locked up.

Of course, it’s all personal choice so go for it if that’s the dream but don’t leave yourself skint whilst doing it.

 

[Earlsdon_Skyblue1]

Me and the good lady were thinking about buying a place in the sun down the line, thinking Mallorca but just wondering whether anyone else has anything or know anyone who does? Any considerations around movement in the eu etc, taxes etc that need some thought?

I have a house in Mallorca.

Most of what people have written above is overcomplicating it to be honest.

Where abouts are you looking?

 

[Marty]

Me and the good lady were thinking about buying a place in the sun down the line, thinking Mallorca but just wondering whether anyone else has anything or know anyone who does? Any considerations around movement in the eu etc, taxes etc that need some thought?

The 'place in the sun' show at the NEC is good, talk you through the process, what you exactly need to do etc. May be worth having a look, got to meet Jasmine Harman, who's absolutely stunning in person.

 

[wingy]

I have a house in Mallorca.

Most of what people have written above is overcomplicating it to be honest.

Where abouts are you looking?

Is that because you're young?

 

[wingy]

The 'place in the sun' show at the NEC is good, talk you through the process, what you exactly need to do etc. May be worth having a look, got to meet Jasmine Harman, who's absolutely stunning in person.

I was going to ask if he was going to employ her or the delectable Scarlet Douglas ?

 

[Earlsdon_Skyblue1]

Is that because you're young?

What do you mean?

 

[Covstu]

I have a house in Mallorca.

Most of what people have written above is overcomplicating it to be honest.

Where abouts are you looking?

Personally fancied Pollença area, just a lovely part of the island. Where abouts are you?

 

[Sky_Blue_Daz]

My sister in law and her husband have a house in Quesada which is about 30 miles from Alicante stayed at their place a few times Very reasonable prices for meals out , bars and shopping . They are selling at the moment and looking at 2 houses one with a pool one near a communal pool roughly €100k hope they go for the private pool one personally

Although Mrs Sbd has said she would like to buy there too but rent it out in the Peak season

 

[fernandopartridge]

Might not be what you are looking for but if you consider lakeside rather than coastal in Spain you get so much more for your money. my mum just brought a massive property which has 2 houses a pool an old olive mill, loads of land and a pool that needs a bit of renovating. It's around an hour from Granada airport. She sold up her ex council house brought this and still has money in the bank, crazy what we have to pay in the UK really.

Makes me wonder if this covid situation has got the ball rolling with people happily working from home. Could be a good time to buy myself..

Just been on a call with a bloke who works from home permanently, he lives in Austria.

 

[Alkhen]

Just been on a call with a bloke who works from home permanently, he lives in Austria.

Yep before lockdown my company (a large US multinational) was dead set against WFH but this situation has shown them people generally don't take the piss, in fact people have been happily working longer with shorter breaks. I seriously don't miss my 45 min daily drive. I can see a lot of large companies taking the opportunity to shut the bigger offices and making smaller hubs around the country for meetings etc.

 

[Sky_Blue_Dreamer]

Yep before lockdown my company (a large US multinational) was dead set against WFH but this situation has shown them people generally don't take the piss, in fact people have been happily working longer with shorter breaks. I seriously don't miss my 45 min daily drive. I can see a lot of large companies taking the opportunity to shut the bigger offices and making smaller hubs around the country for meetings etc.

It's things like this that I advocate and get told "it won't work - it's a stupid idea" and not even willing to test it. Then we get a situation where it's forced upon them and all of a sudden they realise it does work. Could've been doing it years ago if they listened a bit more.

 

[chiefdave]

Yep before lockdown my company (a large US multinational) was dead set against WFH but this situation has shown them people generally don't take the piss, in fact people have been happily working longer with shorter breaks. I seriously don't miss my 45 min daily drive. I can see a lot of large companies taking the opportunity to shut the bigger offices and making smaller hubs around the country for meetings etc.

We switched the whole company to WFH and its been fine. Had a meeting a couple of weeks ago and everyone had to say if they wanted to go back into the office or not (even those of us who are furloughed). Literally every person said the same thing, they preferred working from home and were equally, if not more, productive. We then got a memo saying the office was reopening and everyone was expected to go in!

Added bonus you now have to arrive earlier as they are going to lock the doors because of covid (didn't make much sense to me either) and communal areas will be out of bonds so you can no longer make drinks and have to eat lunch at your desk.

 

[NorthernWisdom]

as they are going to lock the doors because of covid

So you get to burn alive instead, if a fire breaks out...?

 

[Flying Fokker]

Personally, it’s a lovely dream that many aim for but why tie up the capital unless you want the legacy to be left to others.

if you buy £100k place (and that’s low), how many months can you rent in different locations and be back in the UK for periods to see family and use medical if needed.

I hope when my wife and I retire to be able to spend the winters out in Spain/Turkey or somewhere warm and just rent a place for 2/3 months,
Even if you rented somewhere lavish at £1K a month then for 3 months a year the pot size will outlive us and still go to the children and if you rented long term for a year, you wouldn’t pay anywhere near that and would still have years of money and not paying interest of having capital locked up.

Of course, it’s all personal choice so go for it if that’s the dream but don’t leave yourself skint whilst doing it.

Agreed, although the same logic can be applied to Motorhomes, Caravans etc. It’s the dream.

 

[shmmeee]

So you get to burn alive instead, if a fire breaks out...?

Stops them coming back as Zombies, smart move.

 

[Mild-Mannered Janitor]

Agreed, although the same logic can be applied to Motorhomes, Caravans etc. It’s the dream.

Don’t disagree but they are a little more liquid as an asset and can be disposed of easier and quicker if people needed access to their capital although could depreciate more than real estate.
Not knocking the dream, just would never want to see people financially exposed on such a purchase

 

[Covstu]

My sister in law and her husband have a house in Quesada which is about 30 miles from Alicante stayed at their place a few times Very reasonable prices for meals out , bars and shopping . They are selling at the moment and looking at 2 houses one with a pool one near a communal pool roughly €100k hope they go for the private pool one personally

Although Mrs Sbd has said she would like to buy there too but rent it out in the Peak season

This is our thought pattern, look to rent out when we aren’t using to make it work for us. Cash in bank doing nothing so look8ng at alternatives for the long term.

 

[Covstu]

We switched the whole company to WFH and its been fine. Had a meeting a couple of weeks ago and everyone had to say if they wanted to go back into the office or not (even those of us who are furloughed). Literally every person said the same thing, they preferred working from home and were equally, if not more, productive. We then got a memo saying the office was reopening and everyone was expected to go in!

Added bonus you now have to arrive earlier as they are going to lock the doors because of covid (didn't make much sense to me either) and communal areas will be out of bonds so you can no longer make drinks and have to eat lunch at your desk.

We are finding that people are working longer at home than at work! Positive from a business perspective but shite from a wellbeing angle. I am only going to the office over the last few weeks and feel so much better for it where I can isolate home and work rather than be one in the same

 

[Sky_Blue_Daz]

My parents were in the pub trade for almost 25 years my Dad has a difficult time adjusting to retirement. They worked 18/19 hours a day 7 days a week for those 25 years I suggested they look at buying a holiday home and rent it as business in the peak times . That way they use it a lot in the autum winter. I left them details of houses In Spain, Portugal and

Also selfishly I thought it would be great for personal use as a family home aboard
Anyway one afternoon I popped in and they said they were booking flights as they had seen a house they were interested in

I asked them were and they said it was in Bundoran in County Donegal , I’ve been to Bundoran a couple of times and its very picturesque when you get the weather but not a patch on somewhere in Spain