14 Nov 2011 12:58 AM:

thanks guys for all your help and taking the time to reply. All of your replies have been very useful and have certainly made us think seriously about purchasing in Spain. We did initially think of investing in the UK, but the prices even for a 2 bed flat in the Bournemouth area are £120k upwards and our area seems to be swamped with BTL mainly thanks to the Uni. With increased tuition fees as from next year there is a possibility that this could have a huge effect on the BTL Market & obviously if we borrow more than the 85k we want to spend, we would have to guarantee that it was let out all year round. My concern is that this may not be possible.

Spain seems the obvious choice for us as the climate is good, lots of flights into the area (we could even drive) and also the property prices are low, so we should get a nice 2 bed apartment for our money. Plus we can use it as a holiday homes as well with guaranteed sunshine.

We will definitely be treading very cautiously & will not be make any hasty decisions. We are flying out this week to have a look around - wanted to see what the area is like at this time of the year.

thanks again & will let you know how we get on!

Cslb



Thread: Hello, Advice needed please on purchasing a coastal apartment in the Murcia area

--------------------------------------

09 Nov 2011 9:26 PM:

Hi All,

Many thanks for the advice - we really appreciate it! This forum is a major part of our research on buying in Spain and we will certainly take onboard all your comments.

As a family we have travelled to Spain many times and love it (especially the climate)!  Although we do not know the Murcia area that well (have been to La Manga Club a few times) we were attracted mainly by the climate, accessibility (Alicante, San Javier and the new Corvera airport), the possibility of the new Paramount theme park and also by friends that have recommended this area. We have this wonderful vision, that we will be able to hop on a Ryanair flight at Bournemouth and be sat on our own balcony in Spain within a few hours! So it will be vital that our apartment will have to suit us as a family as well as having the option of rental.

During our stay next week,we will definitely go and have a look at the Mazarron Country Club and Mojan Hills.  I'm glad that you mentioned these places, as I've looked at so many properties on Rightmove and without knowing the area, I wasn't sure whether it was worth a visit - but will definitely do that now.  I can imagine there is a lot of competition with rental properties and therefore we  need to find a suitable apartment that will fit our budget, so we won't soley have to rely on rental income. Fortunately, we have a good deposit, so on my calculations, as long as we are able to rent the property out for 5 weeks of the year at an average of £260 per week, it will meet our borrowing costs. 

Thanks again

CSLB94

PS. An agent suggested that we allow just under 9% of the purchase  price of the property to cover tax and legal costs - would you say that was a fair assumption?

 

 

 

 

 

 

 

Thread: Hello, Advice needed please on purchasing a coastal apartment in the Murcia area

--------------------------------------

07 Nov 2011 12:00 AM:

Hello,

We are looking to purchase an apartment in the Costa Calida and a little advice would be very useful!

We are new to buying a property in Spain, and are seriously considering buying a suitable coastal apartment mainly for holiday rental purposes.  We particularly thought the Murcia area would be a good investment, mainly due to the Paramount theme park being built in this vicinity and also the opening of the new Corvera airport.

However, we are not sure which particular areas would be an attractive prospect.  We are coming out to Spain in two weeks and wondered if anyone could recommend a village/town which they would consider suitable for rental purposes, but also near the coast and good value for money. 

Our purchase now will hopefully be an investment towards our pension

Any advice would be greatly appreciated!

Many thanks

 

 

 

 

 

 

Thread: Hello, Advice needed please on purchasing a coastal apartment in the Murcia area

--------------------------------------