Buying in a polaris resort

Hi,

We are considering investing in a proerty in a Polaris resort and wonder if anyone could give us any pointers?

For example, are the developments being fully realised as per plans and are you ecstatic or unhappy? Which devlopments appear to be the most up market and attractive  and for what reasons ( I don't like the designs of La Loma - just a personal view)

Is this a good place to invest and come for holidays during school vacation time and try to rent out the remaining time OR are we best to steer clear??

I s it best to do an inspection visit directly through polaris or might we get better deals elsewhere?

I know that's a lot of questions but I really don't want to make a big financial mistake as we don't have money to chuck away!!

Many, many thanks, Scarlett

Hi Scarlett. Polaris are certainly the biggest developer in Costa Calida. There are two airports close by and currenly a third is being built. I would say it's a safe place to invest although you may not see dramatic price rises untill most of the golf resorts are completed in a few years. Fabulous place for kids as the beaches are excellent and approx 10km away. Also the city of Murcia is a hidden gem and a lovely gothic city that is untouched by the marauding english. Full of  small streets that open out into open areas full of cafes etc. Very under rated place.

A re-sale unit, that is not yet built ,is probably the best value because you can deal with independant people directly. If you buy directly off Polaris they pay 7% commission to the estate agents. Once they introduce you to Polaris they have done their job and you deal with Polaris direct.  Be very careful who you use as there are some sharks out there who don't want to know after they have got your money. I used KAYDEN ESTATES who travell round the UK and based in Marbella,  I found  them tobe very unreliable and never return calls etc, so stay well clear.

Go on an inspection trip if you want but I would advise to go independantly as they never leave your side and only show things they want you to see. It may cost a little more but stay on La Torre golf  resort to get a feel of what it's all about. There are many web sites with the accomodation on from the private owners

** EDITED ** No commercial posts please

Good luck Gary

Hi

Try the Polaris World forum. Loads and loads of Polaris information from people living and buying on the resorts. There are some excellent resale bargains (never been lived in) that I think are better buys than the off plan stuff but depends how quickly you want your property.

Hi Scarlett

Just for info, there will be approx 30 golf courses along the strip from San Javier to Murcia city.  In this market you'll have lots of choice. Some very up market - others offering better value for money.  It's a fabulous location in Spain.  Good luck.

Best wishes, Jane.

Yes Smiley we have found that out too late! We are still waiting for our off plan in Almoradi to be finished. We put deposit down in 2003. We are now so fed up of waiting we are coming over on 20th Feb to view resales. We want to buy on the Costa Blanca still so that we can keep an eye on both when we are over. We will prob live in one and rent the other out so are going to look for golf and beach apartments this time! Hopefully we should be renting the resale one out soon, with a bit of luck!

We would NEVER buy off plan again, but that is only cos we have had such a bad experience. I do know of others who sailed through and were totally satisfied.

Just our bad luck I suppose

Cheers John and Trish

Just a note on people saying resale can be cheaper than buying off plan. I'm buying on the new Polaris site in Murcia and think the prices for the two beds appartments at Condado de Alhamba are well priced at 85K (ish). Since putting down my deposit I have yet to find similar property for these prices although I am assuming when people say resale can be cheaper they mean for stuff 130K upwards, Would be grateful if any of you could clarify as if there is similar priced property out there, I'd like to know!!!!

Phil

Hi Phil

We've just found a buyer (through this web site) for a 2 bed semi-detached bungalow with large garden, on a non-polaris world golf course in the same area .  Yes, we offered at below the developers current asking price because we wanted a quick sale.  So will others, people like us have been waiting over 3 years with prolonged delays to the building schedule and we're not alone.  We have sold (subject to contract) for almost 40,000 euros below the developers current off-plan price for the same property style and location.   It sold for less than the price you're quoting for a 2 bed apartment - if your talking in sterling not euros.

Hope that helps !!

Best wishes, Jane

Hi Phil we think that resale are better value only because you get more for your money as in fixtures and fitting etc. Our off plan 2 bed 2 bath penthouse was 68K when we put deposit down in 2003. As I say we are still waiting!!!!! We have to buy all furniture, fittings, kitchen wardrobes etc etc etc. We have found resale on the coast  now fully furnished with sat tv ,alarmed , security grills,air con and garage space plus lots of extras also with 2 bed and solarium, for 80K.

We will have made money by buying off plan because its taking so long, but we really want to holiday in our own place NOW!

There are good and bad points for both ways it really depends on everyones own needs ,taste and bank balance!

Polaris world will be gated anyway wont it? So you shouldn't have to worry so much about security which is another good point.

Regards

John and Trish

Oops oh dear, just realised. its cos I wrote it so I can edit it I suppose! Best clear off to pub, then I will have an excuse for any silly thing I say!