Spanish property worth it

S

sidb

Registered User
Messages
44
Hey

I was thinking about buying a place in south of Spain for around 120k and wondering if it pays for itself over a 20 year period. I don’t mind funding 50% of it over the period but anybody experience of rental incomes to help cover the costs. I would be mortgaging 70%. I’m area of depends on where you buy, property type etc. if someone could run a ball park figures to see if I want to sign up to it or not. Average rents you would receive a year etc.

Thanks guys
 
So you want some random person on the internet to do your homework and tell you if it is a good idea... if you don’t know the answer to most of your questions, then it is not. Investing in something you know about, you have a better chance of at least not loosing money.
 
At least we found out which country!
 
You will have to go to the same place for the next 20 years...or at least feel obligated to go to the same place a few times a year for the next 20 years. You will also have utilities, local taxes etc to pay as well as maintenance. If it's going to €120k, it's probably not in a complex, so there's probably no pool either. Thinking back to the heat last summer, that was the one thing I would have loved, a pool to jump into to cool off.

Going on spending €120k, if I spent €5k a year on a holiday, that would do me 41 years worth of pretty decent holidays. I wouldn't tie the money up in a foreign property either, could spend €10k in one year and €2k the next.

As for renting it, unless it has a pool and easy to access from an airport, who's going to rent it from you?


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
I like travel but going to the same place twice never appealed to me, plus its bad enough worrying about property in your own country, let alone two hours away on a plane
 
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