Homeowners can spend around € 2,188 annually because of all of the basic fees
Saturday, March 31, 2012 @ 2:10 AM
Even though prices for real estate in Spain are dropping because of the recession and stock market problems, buying an apartment in Spain continues to come along with a group of expenses that might lead people into thinking that it is better to rent than to buy.
Homeowners can spend around 2,188 euros annually because of all of the basic fees: Council Tax, small repairs, home insurance…
Small repairs that are not covered by a normal insurance policy must also be considered after figuring in taxes and fees. These can include clogged drains and electrical or hot water heater repairs, as well as many others. Reparalia, a company that specializes in home repairs, completed a study which determined a renter should plan on 350 euros a year for repairs. They also concluded that since 2006, this rate has gone up 5.8%. Read the full article about Spanish property costs