Hello all

Hi everyone I am new on here and have been browsing just over a week. My hubby and I are looking to buy a place in Spain - Costa Blanca or Costa Calida is top of the list at the mo but it's such a minefield so I am hoping to research and pick up lots of info from your good selves on here.

Welcome Emmilou.  You will find lots of good advice on this site.  Lots of good property for sale at the moment at very reasonable prices.  Look through all the threads and you will, hopefully, avoid the pitfalls that some have fallen into.  It is a wonderful country and I hope you enjoy yourself when you do move.  My experience is with the Costa Blanca (having had a place here for almost 8 years) and the Costa del Sol (where we originally searched).  I don''t have much experience of the Costa Calida (although my parents holidayed there for many years).  If you need any help on purchasing, medical matters, places to go etc. please don't hesitate to ask.  Some of us may not know the answers but I can guarantee "we know a man who does".

Enjoy

thanks for your reply...we feel a bit naive at the moment as we don't know Spain very well, our original plan was to buy in Orlando which we love but we don't feel we would get the use of it as we are tied to school hols so looking closer to home now. Hopefully as I read through the posts I will get a feel for which areas are recommended before we go out there to research further

Thanks again

Emma

Emma

good luck with your search. I would be very wary of buying at present.  I'm one of the many who have found that despite all the research and homework you can do, it's still very possible to end up with a huge loss. The justice system is a disgrace, If anything goes wrong, you really are in a lottery situation.  The thread I started called ''rough justice'' has all the evidence for what i'm talking about if you are in any doubt.   There are over a million property's unsold on Spains costa's. Many unfinished, or not built to a quality worth buying!  The current prices could well crash, unless the Spanish government do something to stop the rot. The current recession has made matters worse, but the problems of corruption and lack of regulation were there, and are only now being reported in full. You will find a kind lady called Suzie has sent a petition to our Prime Minister with over 900 names so far, about those cheated while buying!!

I'm not saying don't buy full stop, but this is probably a pretty bad time as so much is wrong in the Spanish proprty industry. Take great care and I would really listen to those who have had good and bad experience and especially those with nothing to gain from 'talking up' the market.

Don't buy off-plan under any circimstances!!!!!!!

I have to agree with goodstich44,

Off plan is a definite no no in this climate as god knows if the properties will ever complete.

A good lawyer is always a neccesity. There are some good bargains going around but you have to be very carefull, when something was to cheap before you automatically knew there could be a hidden problem with the property, now you just dont know.

Another thing i would advise is get a survey done on the property, it seems to be common practice in the UK but out here i rarely see this happening.

Joan

It is not thet is not advisable to buy distressed properties in Spain right now, but.... together with a good price, you need to look for  a good legal check:

Some reasons hereby:

http://www.eyeonspain.com/blogs/costaluz/2093/legal-tip-127-beware-of-distressed-properties-on-sale.aspx

As in UK there is no substitute for a good lawyer when buying property and the point made by Maria is important

But there are lots of 'what is called distessed sales' about which are re sales being forced on the owners by their own situation and again with a bit of care they will I suspect turn out to be a good buy

There are lots of examples but one is a 2 bed duplex in Almeria between Aguilas and Mojacar which was bought for circa 180.000 € but the owner has to sell to pay back a mortgage he can not afford so first the price was reduced to 130.000 € because a similar one recently sold for 145.000 € , we thought there was a sale but fell through and now under offer at 109.000 €

There are similar properties also in Costa Blanca and Calida so if you are in the market this year then perhaps it may be best to have a look

OK some posters think only of the very worst situation but economic property history tells us all that there will be a recovery and it is starting to look as though the bottom is near or has just gone by...certainly in UK and in reality we are all part of an EU economy and the Spanish economy is expected to start growing Q1 2010 about the same time as UK     

So whilst you may say I have a vested interest as an agent the general opinion is that now is a good time to look and buy if you find what you want at a good price

I am also a buyer for life style but expecting a nice little profit in the years to come!

thanks for your replies

some interesting points to think about there

Dear Emmilou,

First thing, don't listen to goodstich.  I think it is very naughty of him to come on and give such negative views about buying in Spain.  This site is supposed to be about helping people who want to do it, not put them off because he had a bad experience.  There are, literally, hundreds of thousands of British people who have bought resale and off plan in Spain and are extremely happy about their purchase.  Please look at earlier threads about buying in Spain which gives you good advice about agents, builders. mortgages etc etc.

For every goodstich I can introduce you to thousands of very happy people who have bought in Spain.  The area around where I live has around 5000 people who bought, the majority of them off-plan, and are extremely delighted witht their property.  Harking back to a recent TV programme in UK, they found it very difficult to find a handful of disappointed buyers compared to the very many who were very satisfied.  But, hey, good news doesn't sell TV.

OK, I had problems with my first property but I didn't have the benefit of sites like this so went into it blindfolded.  Chose a big British agent and had my fingers burnt with problems that took a long time to resolve.  If I had known about EOS (and others, I will admit) I may not have made what turned out to be a mistake.  Because of advice on this site, from the very knowledgable and helpful people here, my second purchase went perfectly.  I am not, never have been, or intend to be associated with any agent or developer in Spain, I hasten to add.  I even bought my second property off-plan and chose a good developer (after looking around for a long time in the area I wanted) an independent solicitor who were excellent at all stages and (I think the most important thing) spoke to people who had used the developer and had lived in the area for some time. 

To my mind, goodstich is not giving you any advice at all, just using the site to vent his spleen because he, unfortunately, got ripped off all along the line.  His negativity is understandable and I had loads of sympathy with him at first but he is now getting out of line. 

If you are buying for an investment, don't.  If you are buying for a lifestyle, whether it be just for holidays or permanent living, then go for it.  There are some lovely areas, some lovely houses and some very lovely people.   If you don't want any negativity, please feel free to PM me (when you have enough posts to be able to do so) and I will pass on the names of a couple of really good, professional developers who have a vested interest in the area and do everything (well, almost, it is Spain, after all) they promise. Unless, of course, you have already been put off by the likes of goodstich and are now thinking of going elsewhere, which would be a shame because it is not all doom and gloom.  Honest.

thanks bobaol that means a lot. It's very hard starting out on when (I admit) we have no idea what we are doing! All we know is we want to enjoy the lifestyle for holidays and hopefully retirement, its one of those things you talk about all the time and never do anything about...well life is too short so we want to go for it. I am glad to have found this site and have been trawling my way through and any help about estate agents, developers etc would be helpful (when I am allowed lol)

thanks again and goodstitch I do also appreciate your comments it helps me keep my feet on the ground and not get carried away with the romance of it all

Hi Emma

We are one of the lucky ones who bought off plan some years ago and are very happy with our purchase - although, in this climate, I certainly would not recommend that route for you.  There are thousands of properties waiting to be snatched up currently, up and down the coasts of Spain.

Just make sure you have done your homework and get a recommended, independent lawyer instructed and full information about any developer you may be buying from (if a new build especially) and details of all community fees, etc., and, hopefully, you will be fine.

From what I've read, the Spanish property market is predicted to level out at the end of this year, although, of course,  you must make your own judgment.  But now is probably (IMHO) a pretty good time to start looking.

One thing  - do not buy if you will need to rent the property out to cover any mortgage/outgoings you may have.  It will just not happen. As  Bobaol has said don't buy as an investment  - buy to use and enjoy!!

This site is full of useful information - but you may find yourself swamped as the threads go off-track at times.   But don't despair, there are many who will help you out with info when needed!!

I don't agree that off-plan is a no, no.  If you want a custom built home, you need to go for an off-plan. As long as you got a good agent like mine (Georgia) & a good lawyer, there's no fear of buying an off-plan.  I've been looking for a resale for a long time but can never find one which is exactly what I want  & hence I've to go for an off-plan. There're always some features which I dislike in a resale.

Forhotspot..that is not what is known as 'off plan' in the historical sense

 What you are doing is getting a  villa to your own design, perhaps an adapted standard design, built by a developer and as in Uk [ as people still do this] it does take time

So you have to agree everything before it starts and I have done exactly the same thing

But you still need the same safeguards.....making sure that everythjng is fully legal, protection for your money with a bank guarantee and only completing when the licence of first occupation is granted

i'm sure that Georgia has made sure that it is all in order

Just one thing, although you will be getting a 10 year structural guarantee it is important to make regular checks on the building process because , all builders everywhere do make mistakes!!......and that includes UK

Hope you enjoy your new home when it is ready

Hi Emmilou

My partner and I have just completed 2 months ago on an Apartment in Sucina, Murcia, which we started to buy off plan in 2007.

The Apartment is lovely we had an absolutely brilliant agent who recommended our lawyer, who was also excellent.

Obviously due to the world recession the value of our Apartment has gone dowm, but hey thats life and eventually prices will rise again.

In the current climate i would advise against buying off plan as there are plenty of bargains of properties that are either key ready, or that people have already lived in and sorted out any teething problems.

Good luck in your search.

Hi rowlandsbb,

    Yes I`ve just received a copy of the BG & will get the original copy when I go there in Nov. I can see the various stages of development & the conversations I`d with the after sales service as they`ve set up an account for me when I login to their site.

I`m very confident that everything will be in order because of Georgia & my lawyer.

Excting time for you..enjoy it

Hi Emilou

I totally agree with bobaol, goodstitch is just negative against Spain and the thread Rough Justice is a bit tiresome instead of advancing forward and doing something positive about their situation, they tend to choose to squabble between themselves.

On the a plus point EOS can be a source invaluble information! 

Excellent choice on Costa Calida would recommend though to rent for a month or 2 to before buying.

Good luck.

Hi Emmilou

no problem. Indeed it's good to keep your feet on the ground.  Far from being negative about Spain, I have always loved the country, my wife and I even toured around it on a motorbike for our honeymoon!!

As I have said so many times, there are obvioiusly lots of people who are happy in Spain, but there are also many who are not because of the dreadful corruption, lack of regulation and always slow, and often hopeless justice system. Prices could still go down further. With a million unsold properties, the massive supply and low demand is bound to effect prices for years to come. Justin who runs this site agrees with that, and has a pretty good insight, so please be wary of anyone in the industry talking up the current crises, they have a living to earn, and hate people like me and others on the 'rough justice' and other threads who tell it like it is from personal and very real experience.

Good luck with whatever you buy, there's a wealth of info' available, but sadly the Spanish system still can't be relied on to do right by you, but many good people are doing their best to force much needed change. The best advice is indeed to rent for while, make sure you have a good lawyer, and ignore sales talk!!!.    Word of mouth is still the best bet I feel, there are good guys in the industry, but due to Spain's lack of regulation there's an awful lot of bad apples!!

This scenario , (from another forum) should put anyone off buying off- plan.

I need your help please.
In February 2008 I put down a 30% deposit on a new-build off-plan estate in Murcia. Property price at the time was 155,000 Euros. Completion is at the end of September 2009, now just a month away.
I was told by everyone that new-builds would hold their price better than resales. I have been trying to get a mortgage for the balance sorted since July. Not easy!!
Well now that I have a lender on board....just about, I have found out that the same type of properties on the the same complex are being sold for
100,000 Euros. With this drop in "value" my 70% mortgage offer will be far too low and the shortfall I can no way make up.
My solicitor is directly involved in trying to sort something out with the builder..........But has anyone got any ideas on a way forward?
Is the only likely outcome going to be a loss of deposit no matter what I do? Suggestions :?: please.

 Tish, If I understand you correctly you have put 46,500 Euros as a deposit on a place worth 155,000 Euros at that time. Therefore leaving a balance of 108,500 Euros. Well unless the builder is going to give you money and you can get away with just walking with no other action it would be cheaper to buy one of the others being offered for 100,000 Euros. I know you've put down a load of money but you've lost it either way.