am i Nuts (want to buy) in Spain ?

Hi my name is Mark my wife +3 kids we are looking a buying a home in Spain early next year, def Not a new build after all the horror storeys I have read here ! going for a resale in the Marbella region near the beach I have seen a nice property but I have read the prices are set to fall 20% should I offer 20% less than asking price ? is it really getting that bad ? Or am I simply completely Nuts considering buying in Spain rite Now

Any advise is welcome thanking you

Mark from Essex

 

This message was last edited by markandsarah420 on 7/23/2008.

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Hi

I dont think your mad  spain is a great place to stay or live,the property market is the same all over europe at moment! my advise to you would be make sure you use a good lawyer we have bought several propertys around marbella had great fun doing this and enjoy staying in them! make sure you get a good deal on what you are buying but dont forget there will always be somebody bought something cheaper!!!

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What about work guys?

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Make an offer well below the asking price and see what happens .  Look at what other simiar properties are selling at.  It depends upon how desperate the seller is to sell.  After we bought our apartment we were told by some friends of ours that their next door neighbour was desperate to sell their town house so we might have got a town house for the price of our apartment - who knows, but we don't care .  It is what you feel the property is worth to you and in the correct location .   There is no use getting a bargain if you have to walk 30 mins to the beach if you like beach holidays .     We passed by a great offer on an apartment near the beach in a well -known complex in Duquesa because the apartment was in the shade most of the day - fantastc location, great apartment but did not push any buttons  on what we wanted most of all - a large sunny balcony .

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I dont think youre NUTS - if the purchase is for lifestyle then now could be a very good time to buy - despite what you read in the Daily Scaremonger. Prices have already dropped quite considerably from where they were and it is possible to negotiate some very good deals if you look at the right thing in the right place. A client of mine has juts managed to negotiate an extremely favourable deal with a seller that was highly motivated to sell. Against the  bank valuation it will represent an excellent price. The investors have gone away (times of double digit growth long gone!!!!!) to pastures new but people who are buying because they wish to own something are still buying. There will be those vendors who will not budge on their sale price as they dont necessarily need to but there will be those that are willing to consider offers. LOcation sells and nowhere could that be truer than Spain - if it is close to the beach then it should have a relatively limited downside if the market were to fall. A great deal depends on what it is that you have seen and where it is I guess. Resale definitely better option than new build (IMHO) you save on taxes and you can see what you are getting - all the teething problems should have been ironed out and if there are problems with any element of the construction then you should be able to determine what they are - e.g damp etc. Sometimes things that dont manifest with a new build for some time after completion.

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Hey Thanks for the advise we cant wait to make the journey south coming over in a few weeks to look around we are tempted by Nueva Andalucia never visited the area but heard good things I can not find much info on this site … ?

 

 

This message was last edited by markandsarah420 on 7/23/2008.

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LOts of property in Nueva Andalucia but for my money its a bit of a posers paradise - personal view only before I upset anyone!!!! Very Brit oriented community althou plenty of others - lots of golf courses (and Porsches, Ferraris, Hummers etc). Very close P Banus - goes inland from there. On the beach at N Andalucia (effectively banus) you wont get a lot for your dosh. Great deal depends on your budget. Can be a bit quiet in the winter outside of school holidays - if you want 52 week activity San Pedro better option or Marbella itself - frankly I dont think you can beat the latter if you can find the right property at the right price - if only.........................................................everything on the doorstep, shopping, beach, restaurants, etc.

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I am having trouble find a villa with a helicopter pad !(Joke*) I have noticed N-A was a little more Over priced ..

For the last ten years my family have spent good money on bad hotels (no need to mention names but 27 quid for 3 milk shakes was the last straw)on the Golden mile we feel in love with Spain from the start We really want to be near the beach 3 bed apart/ villa our budget is not huge more realistic in today’s climate , we don’t expect anything for our money in that area but would consider any thing close by .

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Have sent you a Private Message but not sure what the system over PMs is now - think you have to have made 5 posts to be able to activate it and access

Couple of villas around with Helipads but tend to be Sierra Blanca and Zagaleta - £27 for 3 milkshakes - you cant have been in Banus - thats a cheap round there - think theyre about 2 Euros each in San Pedro maybe a little more but nnot much - camt say i drink them

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 To_Smiley I think I have to wait for a Mod to allow me permission to PM , I have it in my inbox but cannot access it Ggrrrrrrr

As for the milk shake hotel (Not to be confused with The heart Break hotel) I wont mention which one but 2 little words MC should point you in the right direction LOL

 

 

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Could have been worse I guess just down the road - probably 50 quid at Puente Romano - send Justin a message asking him to let you access PMs

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If you haven't been to Benahavis before, I recommend you have a look at the urbanizations in the surrounding area and Benahavis itself.

It was after visiting Benahavis last year that we decide to move to Spain.

We're renting at the moment and found that rentals in Nueva Andalucia were way out of our price bracket but if you just drive 5 - 10 mins away from NA towards Estepona, you'll find properties really come down in price. I'd imagine it's the same situation if you're looking to buy.

Our urbanization has quite a few empty properties so I'd imagine you would be able to pick up a deal. And I imagine it's the same for neighbouring urbanizations.

And we have no complaints about our apartment at all! (But as a buyer, make sure you check out the community charges etc).

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Hey Mark
I don't think you're NUTS, I'm the nutter, still living in the UK  . Wish I'd moved over a lot sooner!! But as they say "If I'd known then what I know now..........."
Wish you all the luck in the world

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Benahavis very lovely (shame its become so developed) but the village itself is quite a long way out - and a nightmare at weekends during the tourist season - almost impossible to park - has become a little like MIjas Pueblo although not quite as built up.............YET!!! If you want to go anywhere you have to have a car and dont know what the bus service is like. Not sure what it would be like with kids up there but know friends on the outskirts of the village and they are forever in the car up and down as a taxi service and not sure the kids that happy - N.A is huge and sprawling and can be just as much a problem but possibly more going on closer to it once you get down to the coast (hope that makes sense) - what I mean is that once you get to the coast road you are on top of almost anything - with Benahavis its a question of reaching the coast road and then heading in either direction. Horses for courses i guess but with 3 kids think carefully first - cant deny there are some lovely urbs up there and views can be stunning on a clear day if in the right spot. Depending on how developed it becomes I think it could turn out to be a wrong un but thats only my opinion. In July and August Benahavis a lot more than 10 minutes from NA. Can take half an hour just to negotiate San Pedro lights - then again with the work on the under/overpass when it is complete, 10 minutes you should make the Benahavis turn off the coast road. Then another 5 to 10 to the pueblo itself - but not in the dark!!!!! Then again guess it depends on how fast you drive - I'm a tortoise!!

Really depends on whether its a holiday home or a permanent residence you are looking for - this is in the thread "Moving to Spain" and I get the feeling you want to replace hotel accomodation rather than 52 weeks a year.

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I agree that Benahavis is a bit far up the road if you want to be in the midst of things - although it does have most things up there apart from the beach. I was thinking more about the urbs that are on the road to Benahavis. I agree that you definitely need a car. Even though we're only 2 mins drive from the coast road I wouldn't risk walking along the main road as there are no paths - although many people do. The one thing that doesn't make our apartment perfect is that there are no amenities within walking distance.

The problem is that the closer to the coast you get and the nearer to Puerto Banus, then the higher the property rental and sales prices are. So there has to be a compromise somewhere.

We haven't encountered too many problems with the San Pedro lights. And when it's looking busy we just use the 'back streets' and enjoy the view.

I'd love to live 'beachside', but unfortunately we can't afford to rent anything there that even compares to the quality of our apartment and the facilities we have.

As Smiley says it's horses for courses and if we all liked the same thing then that would be one busy place! 

I'd say the key is to make a list of what's essential for you. 

I don't think you're nuts. Spain's great. There are ups and downs, but the downs are always more bearable when you've got the sun and sea on your doorstep!

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Shame they dont build a road straight across to Guadalmina Commercial Centre - Tricky Rickys right on the doorstep then. Guess youve always got Diana and Mustang (think). Personally I think you can find good value beachside and dont really notice a massive difference in pricing structure - it is possible to rent a 2 bed apartment in San Pedro beachside for 850 a month - 5 minutes walk into San Pedro centre - dont know what you pay but if you look around then I think you can find good deals for rentals and purchases that are more in the hub. Guess depends on what youre looking for. Someone mentioned an urb to me on the way to Benahavis about 6 months ago and wanted about 1200 for a two bedder - i have to say it looked spectacular and had a spa on site - indoor pool etc - big big apartment with lots of terrace but for me simply too far out of it.

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We must have bagged ourselves a bargain then as it sounds like we're in one of those apartments you mention Smiley, and we have a garden which is a bonus, and pay less than 850€ a month. We did spend 2 months looking around beforehand though.

We're from London and are used to driving everywhere and sitting in traffic for hours on end, believe it or not, so it's not too much of a chore for us.

But I agree a road to anywhere that you could walk or cycle on would be great! I did take paths for granted back home!

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Thanks for all the reply’s Booking a flight this week for a short stay will be heading into San Pedro to have a nose about .. Totally Gone off  Nuva Anda is too far from the beach and I don’t fancy the walk ! Not with 3 urchins in Tow

sorry I have no been able to answer the PM,s for some reason I do not have the privilege to use them yet ??

 

Take it easy Folks & Thanks you Kindly

This message was last edited by markandsarah420 on 7/24/2008.

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Hi Mark if you wish you can send me an e mail to patrick@marbellamortgages.com and i will e mail you the PM that I sent to you - up to you.San Ped beachside is quite open - wide paseo - with a few restaurants/bars (not overdone) - beach is ok but not the best in the world and stony in places although this is gradually being changed - hence tendency is for it not to be so crowded and usually very Spanish - lots of volleyball on the beach at weekends. The town itself (North of the coast road) is very very Spanish - hectic bustling place - quite densely populated and generally busy with real life - lots of restaurants tapas bars etc - not too many egg and chips places (although you can get it).

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Hi Mark,
I have sent u a pm but see u cannot get them yet.If the area of Elviria is of interest to you,great area,near good schools and within walkin distance to Nicki Beach , please get in touch if I can be of any help.
Val x

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