Running a property in Spain. (Non Resident)

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21 Dec 2011 00:00 by El alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

 

Purchased off plan 10 years ago
8 years ownership
Value still above the purchase price
With my last bill in for 2011. All my tax paid. I have just closed my end of year expense account. This is for running my 3 bedroom property in Murcia..
This includes.
Pool Cleaning contract.
Monitored Alarm System.
House and contents insurance.
Bank Charges (Banco Santander)
Tax. Non-Residents Income Tax (IRNR – Impuesto sobre la Renta de No Residentes).
IBI.
Solicitors fees
Electric. (Iberdrola)
Water.
 
My outgoings for 2011 were up by €72.87 on the previous year 2010.
& €107.06 on 2009.
 
Noticeable increase expenditure was Electric.
 
My outgoings do not include my flights and the running of my car. Big saving on not having to use Car Hire
Car running costs
Airport Parking
Insurance
Road Tax.
Petrol & Servicing.
 
I visit my property approx 10 times a year. Most years, Family and Friends Holiday there.
 
So in all Very happy. Looking forward to 2012.
Always remember to keep the sun in Ya heart!!!!

Feliz Navidad.



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JB



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21 Dec 2011 23:06 by EOS Team Star rating in In Spain of course!. 4353 posts Send private message

EOS Team´s avatar

Thanks for the info.

Interesting to read about having your own car here instead of hiring.  I often wonder why more people don't do this.

What sort of saving are you getting by doing this?

Justin



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22 Dec 2011 07:53 by mariadecastro Star rating in Algeciras (Cadiz). 7925 posts Send private message

mariadecastro´s avatar

 Great comment El Alamillo!

Happy Christmas!

Maria



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Director www.costaluzlawyers.es

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22 Dec 2011 09:11 by rod Star rating in Uk and Spain. 460 posts Send private message

El alamillo
You have not given a Total was this deliberate and I am perhaps missing the point I,m sure many potential buyers/ex pats  would like this information THEN they could subtract costs which they would feel they wouldnt need THEMSELVES

You must have been one of the first to buy in MURCIA as it I think became more popular about SEVEN years ago I remember AGENTS in the COSTA DEL SOL making a fuss over the place then.

You are CORRECT on your estimation of the value INDEX and rumour seems to place prices at 2003/4

Nice to HEAR a positive story just prior to XMAS and Ihope you enjoy it for many YEARS to come

Well done

Rod


 



This message was last edited by rod on 22/12/2011.

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22 Dec 2011 10:04 by El alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

I hope this helps.

With regards to property value estimations back in late 2001 to the present day. My property  purchased when the Euro was 1.60 to the pound is a 3 double bedroom house. (Garage and pool added later) on a hill with fantastic Med views, only a short walk to the beach.

Yes! I know the hardest part is getting back up cardiac hill. (for those in the know)
 
I saw identical properties sell at an inflated price of €217.000 above my purchase price and yes they did re-sell. Properties that did sell and some years later have come back on the market and still not selling are being advertised at €90.000 below their purchase price.
What I don't understand are the agents selling fees. Talking with some of my neighbours who are selling. The Agents selling fee is approx €20.000 that’s a lot of wonga!!!!!. I am sure that if the fees were not so high and the purchase price adjusted to a more realistic level. Properties may sell.
I have noticed that there is evidence of Spanish purchasing from expats in the more residential areas.
But at knock down prices.
Please note. This man is not for U turn. I love it.
Euro 1.20 today

Car running costs

 
Airport Parking €375 per year this gives me access to parking at both St Javia (Murcia Airport) & Alicante Airport. Plus transfer of car between Airports. This will soon include Corvera.
 
Insurance. €394.10 per year Fully Comprehensive with Linnea Directa
 
Road Tax..€46.00
 
Petrol & Servicing. As required. The fuel in my tank is mine and not the hire companies. Filling the tank and Flying into Murcia. I can  sometimes do 3 trips without a replen.
 
Average Car Hire for a similar vehicle €200 per trip this takes into account fuel and additional insurance also the summer months when the hire charges go up.
 
€200 x 10 = €2000 @ 1.15 = £1739.13 per year.
Average running cost for running my car € 815.10 @ 1.15 = £ 708.78.
 
So in all I save on average £1000 per year.
 
Please note that this projection does not include fuel and the cost of the vehicle.
 
I run a Ford Focus Zetec 1.6 Estate Automatic Petrol. LHD Spanish plates.
The IKEA Mobil. It carries anything with the seats down.
Purchase from an expat returning to UK. 5 New tyres and cambelt change.
The sellers paid all the transfer fees
Now Showing 88.000km = 54.680 miles.
Owned approx 3 years. I have put approx 6000 km on the car.
So Purchased at only 51.000.
 
All these figures are approximate
 
Always Remember to keep the sun in YA heart
 


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JB



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22 Dec 2011 11:22 by El alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

Sorry I forgot to mention that the Total cost of running my place this year 2011 was €3157.14

I have no morgage



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