Hi - I'd really love to buy a coastal place in Spain - max 30 mins cycle from beach (budget of max €70k though) and am trying to find out what additional costs are involved. I've read to factor in an extra 10-15% over the house price (for VAT/ITP/ADJ/estate agency fees, valuation costs, notary costs,Spanish Land Registry fees, legal fees ) plus money for furnishings ?
In addition to this, what would you reckon is an average cost of a property per year for maintaining (again, I'm reading that there's property ownership tax/IBI . I was thinking of letting it out / air bnb but I see there's a lot of costs involved in this (19% income tax, key holder/management company, cleaners, utility bills). For those who do let out their property, how does it work for you and would you recommend it?
It seems to be a bit of a minefield (then again buying property anywhere probably is) and in my head I'm trying to figure out if it's easier and cheaper to just rent places whenever I want to go to Spain given all the costs involved - my head says rent / my heart wants to own a property. My ideal is to have a bolthole to pop over for long weekends, kids mid-term and summer holidays if possible - ultimately to retire to (though my contract states I retire at 70 !! so who knows)
Any thoughts / info / guidance would be really welcome.
Many thanks
In addition to this, what would you reckon is an average cost of a property per year for maintaining (again, I'm reading that there's property ownership tax/IBI . I was thinking of letting it out / air bnb but I see there's a lot of costs involved in this (19% income tax, key holder/management company, cleaners, utility bills). For those who do let out their property, how does it work for you and would you recommend it?
It seems to be a bit of a minefield (then again buying property anywhere probably is) and in my head I'm trying to figure out if it's easier and cheaper to just rent places whenever I want to go to Spain given all the costs involved - my head says rent / my heart wants to own a property. My ideal is to have a bolthole to pop over for long weekends, kids mid-term and summer holidays if possible - ultimately to retire to (though my contract states I retire at 70 !! so who knows)
Any thoughts / info / guidance would be really welcome.
Many thanks
