Andalucian dream homes? have you used them?

We used Andalucian Dream Homes last year to buy an off-plan property, so far everthing seems fine. Just hope that we can sell for a good profit.

Many real estate companies will suggest a certain level of profitability on an off plan investment. What they do not tell you is that invariably the commission they are receiving from the developer is more than they receive on a resale. Whether the situation has changed now or not I do not know but in many instances their commission (or part of it) was paid on receipt of deposits. I have heard that in the heady days of "25% capital growth per annum" commissions as high as 18% were being paid to some of the agents. Whether ADH fall into this category or not I could not say. It should be noted that on brand new properties (i.e. off plan) at completion there is a 1% Stamp Duty on the Title Deed. This is not the case with resale properties.

RGds 

I have just bought with Andalucian Dream Homes, off plan and have been told I can get good profits with my equity release loan in 2 years.

I thought the man dealing with me was very good, please dont tell me different.

Colin

I love people like you, all hotair, so whats your game just out to cause trouble and get people worrying about there purchase.

I have sent you a mail and you have´nt replied, so for you other people on here he / She is a scammer just a time waster.

Thank you, and god this really annoys me, my wife has´nt slept for 3 nights because of this post.

Colin

Laverdad.

He starts to have a go at a company and has made my wife sick with worry, so I sent him a mail to find out what we had got ourselves into and he does´nt reply.

Which of course makes my wife worry even more.

If we have bought from a good or dodgy company I NEED to know, i did research them before I bought and did´nt find out anything bad about them, until Laverdads post..................is he just an unhappy ex employee or is there truth to his comments.

Sorry I just dont like to see my wife worrying like this.

Colin

If you are happy with the purchase, great.  But with the state of the property market out there be prepared to complete and have to take on a mortgage.  I am very surprised there are still agents out there that think off plan will make these sort of returns.  I should know I bought 3 in 2002 and the market is no better now I can tell you.

Hmmm am not sure those comments are going to make colpat feel any better either. As for "the state of the property out there" comment i really feel that needs to be justified. If you bought 3 in 2002 and made no money then you were sold an absolute lame duck, the market has rocketed since then. If the sales rep at ADH has done his job properly colpat i dont see any reason why it should not be a success but i wouldnt necessarily look at selling staright away ... if its the right proiperty keep it and rent it a while if it pays for itself then its a good working investment.

Just my 2 pence worth

Buying property is one of the five most stressful things the average person will encounter in their lifetime, and it does not matter were that property is, in the UK, Spain or the Moon.

It is only natural for your wife to get stressed when you hear negative things about your purchase especially when like most of us you have put aside a great deal of cash to pay for it.

But remember; 1) You have done the research and found the company to be OK, believe you me if this was a totally dodgy company it would have been on every forum page that deals with Spanish property.

2) You love your new piece of paradise as you would not have bought it.

3) You should have an independent solicitor to look after the legal side.

So now you have to go through the process of purchasing the property, which takes time.

We have bought on the Playa Golf Urbanisation through Atlas, and you should have heard the stories about how pushy they are when selling you the property and how the after sales team are not there for you etc. Well we have found them great and very helpful, and no I don’t work for them!

You can only do your best and research via these forums. (Go to Google and type in your developments name and see how many forums deal with that development) That might ease your minds.

Sping…

P.S. keep the glass half full at all times!

There are thousands and thousands of unsold properties out there and not enough demand for them.  The building goes on and on and the reduction in CGT tax will see more flooding on to the market in 2007.  The market has not rocketed since 2002, up to 2002 yes, between 2002 and 2004 it has risen moderately and in last 2 years has been at best pretty flat. 

All ours were bought off plan between 2002 and 2004 actually.  The first we use as a holiday home and don't rent out.  The second we have just furnished and rented out for a year.  The third has not completed yet.  None of these could be sold prior to completion despite being very nice properties. 

My advice is to make sure you like the property, outlook and the location (as we do), then if you have to complete and you have the finance it is no big deal, as it's a great place to live/holiday at. 

I should clarify that I am taking about the area I invested in which is the C del Sol.  Maybe other Costas have experienced the Mega growth to which you claim.

Hi Sping,

Interesting to see what you say about Atlas.

I am in the process of purchasing a property through them at the moment, not by choice, but because the basically jumped in and took over a deal we had going with the developer direct, so of course because they obviously have a bit of   'clout' we got a phone call from the developer saying 'it would be best all round if we went with Atlas'.

After having paid our reservation fee, we are now this week looking to pay the balance of our first deposit, but because we have our own independent lawyer, HE asked for the deposit to be sent to him as well as us having a letter fom Atlas to send to them.  It took FIVE E-MAILS over the course of a week and then still noresponse from them (yes and one was to our Spanish rep who is meant to sort out any problems) and then a text to one of their sales advisors on their personal mobile number before she got in touch with the appropraite department.

So, at the first sign of us rquiring help from customer services, it was nowhere to be found, and pushy????---yes I would say that was an understatement.

If I hadn't liked the property so much and thought that I had a good deal going I would personally have told them where to stick it!!!

Hi Leeabby,

We went through the whole process with Atlas and everything has been fine.

I e-mail them and they respond within a day, we have also phoned them and we have never had a problem.

I have however spoken to a developer’s rep at a show house and got the impression that if Atlas or any other agent doesn’t get wind of an independent deal, they will offer you incentives to get you to buy. The problem is between the builder and the agents and you must be caught up in the middle.

The builder’s rep at the show house went outside to see if the coast was clear before he talked to me regarding an incentive deal.

Sping..

We purchased on the Vista Bahia complex Casares Costa using Andalucian dream homes. They were very attentive and helpful at all times and their after sales service was good. We did use their suggested lawyers (they have a small group of independent lawyers that they rotate) with no problems. Indeed, 2 yrs later we still get advise from our lawyers.

Even months after completion we met up with the chap who sold us our apartment for a drink, something he did not have to do as his 'job' was done but something he wanted to do as he was genuinely interested to know how we were getting on.

No complaints from us.

Hi ColPat I sent you a PM last night as I am a little concerned about one line in one of your early threads relating to you have been advised will be able to get a good profit from an equity release loan in 2 years time. Can you explain what you have been told please as I am not sure that I understand your meaning.

Rgds

I took out an EQ loan to cover the initial 30% deposit required, we are buying as a holiday home so not purely as an investment, but I was told that the property we have bought will earn us more money in the long run being tied in our off plan rather than being left were it will be.

I am due for a large pay out in 1 year so I will be paying off my eq loan then (which I told the sales guy about).

I was going to leave it in the bank but i would only get 4.7% interest........where as

I have been told that property on the Costa Del Sol will be going up around a max of 15% in the next year, plus we will have a really nice holiday home.

Have I done wrong?

Colin

col pat,

who have you bought from??? I would be very worried if someone me that!

I´m in the property game myself and only sell deistressed re-sale´s and have been doing great business within the last or so. Buying off plan can be beneficial but no way will your property increase by even 10% next year.

Property prices only increase if they are clients still buying (supply to demand), this is why CDS (costa del sol) prices peaked so fast so quickly, as buyers were paying the price that the property was advertised for and estate agents riping the benefits 

Nowadays, clients are doing alot more research and are alot more clued up. You also get agent cowboys trying to deals and undercut other agents.

If you want some personal advice, please free to send me a personal e-mail and i will get back to you.

all the best,

Mary