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Once you have decided to purchase a property after sales service advice is important. We will inspect every property before completion. With 20 years experience of real estate agency, we will help you through every stage of the buying procedure and advise on cost and legal matters. We can advise you where to buy the best furniture and appliance packs – you will be surprised at the low prices and the good quality. Advice on property rentals, cleaning and maintenance. We recognise that buyers are also future sellers and with this in mind we will give you a service second to none. |
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Different ways to finance your Spanish home:
1. Re-mortgage your present property in the U.K. and provide up to 100 per cent financing for your Spanish property.
2. Arrange a mortgage of up to 70 per cent of the value of the Spanish property via a Spanish bank.
3. Re-mortgage your present property to provide a deposit and expenses together with a Spanish mortgage for the rest. |
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Your Home as an Investment
Many past clients have financed their purchase from rental income. Well managed properties should show a healthy annual profit after paying all running costs and mortgage payments. In addition, you can look forward to substantial capital appreciation on your purchase. Property prices have doubled over the last 3 years in Spain and the demand for quality properties continues to outstrip supply. In the example below we give an estimate of potential annual gross income and anticipated expenditure. Obviously on a more expensive property anticipated rental income would be higher. The following is an estimate of potential gross rental income and anticipated expenditure for a new 2 bed property, assuming that the owner has private use for himself, his family and friends for 3 months of the year.
GROSS POTENTIAL INCOME - NEW 2 BED APARTMENT CLOSE TO GOLF / SEA / AMENITIES:
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| High Season (say 2 months) @ £325 per week |
£2,600 |
| Low Season (say 7 months) @ £150 per week |
£4,200 |
| 3 months for personal use @ £000 |
£6,800 per annum |
| ANTICIPATED YEARLY EXPENDITURE: |
| Community Charges |
£300 (approx) |
| Local taxes |
£250 (approx) |
| Electricity |
£500 (approx) |
| Town Hall Rates |
£250 (approx) |
| Water/rubbish collection |
£250 (approx) |
| Miscellaneous |
£250 (approx) |
| Mortgage Repayments (if applicable) |
£3,000 (approx) |
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£4,800 per annum |
| POTENTIAL GROSS ANNUAL INCOME |
£6,800 |
| MINUS ANTICIPATED ANNUAL EXPENDITURE |
£4,800 |
| POTENTIAL GROSS ANNUAL INCOME |
£2,000 |
| (After all expenses incl. mortgage repayments) PLUS, OF COURSE, SUBSTANTIAL APPRECIATION IN THE VALUE OF THE PROPERTY |
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