Looking at possible purchase - community fees etc?

Hi .

We are looking at possibly purchasing at Terrazas de la Torre.

Can anyone advise on current community fees, and is there any other thing that we need to consider when looking here?

Any advice greatly appreciated

Thanks in advance

Hi Andy,

Send me a PM and I will forward you a lot of info.

Duncan

I am also considering purchasing on either terrazza de la torre or one of the other golf resorts sch as la torre or hacienda riquelme. Any advice you could give re costs, fees, community charges/ pitfalls etc would be useful. Is there still a lot of building work going on in terrazza?

Younels, I have sent you a PM

Just had a pm about my posts above. Just to clarify, I sent the info via PM because it contains a lot of my personal financial information, not because there is anything bad about Las Terrazas de la Torre that I want to conceal.

I am happy to share this information with anyone who asks. I just don't want it on a public forum.

Oh and btw Andyrd and Younels, my community fee increase this year was 80€

Thank you very much, your assistance has helped me to budget accordingly. I look forward to my visit to terrazas de la torre next week to view property.

Hi Duncan, sorry but got to ask. Community fee increase of just 80 euro this year. Or is that per quarter ?

kind regards

Andy

That's for the whole year Andy. My fees have risen from 1396€ per annum to 1476€ per annum.

Other blocks will be different dependent on decisions made in the past of course.

I was speaking to someone whose block community fees had been less than 1000€ per annum and are now being asked for in excess of 2000€. Quite shocking really. It all boils down to how prudent your block president has been in the past.

If they have been using the emergency fund and painting fund etc to subsidise fees then the emergency payment won't be able to be smoothed as much as those blocks who haven't exhausted their emergency fund.

My take home messages would be:

• if you are an owner, get more involved in the running of your block
• if you are a potential buyer, ask for block accounts before you buy

Hi Duncan sorry not to have replied sooner. That's excellent. We were paying a little less than yourselves, however our fees have increased substantially. We are comfortable with that as long as the resort continues to grow and the services we receive continue to be of a high standard. 

Appreciate your comments regarding emergency and block painting funds but very difficult to build up a reserve when up until  last year only three apartments had been sold within our block and as I understand the remainder were Polaris world who as we all know haven't been contributing to the community for many years.

Nice surprise in the weekly bulletin. Spring has arrived in Terrazas Excellent photo just happens to be our apartment garden looking good.

kind regards

Andy

I haven't received newsletter 15. This is the second time in three weeks I haven't received the newsletter. Will have a look at your garden if/when it turns up.

I think a third of apartments in our block are privately owned and the rest are owned by the banks. I guess we are fortunate. The possible silver lining for you is that when the apartments are transferred from Polaris World either through sale or bankruptcy, the outstanding debt will be paid and you will build a fund.

I agree on the need to maintain standards at the resort and I don't think the fees are high considering the services we get. My community fees for my apartment in the UK are considerably higher and we don't have a pool, 24x7 security, lifts etc and we pay council tax seperately for refuse collection and street lighting etc.

I sent you a PM btw.

Hi Duncan,

We are looking at Las Terrazas and La Torre and would really appreciate any help about all the finer details we need to know to make an informed decision. Like the other posters have mentioned fees, charges, good and bad of both (if youknow them) etc.

TIA

Sungoddess

sent you a pm