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To buy or sell?

Post here if you are looking for a property to rent in Quesada. Include your requirements, such as: Long Term, Short Term or Holiday rental - Number of bedrooms etc. Please use the forum for any questions or further information but addresses & phone numbers are best communicated by clicking on the PM (Private messaging) or Email buttons.

To buy or sell?

Postby apricorncup17 » Wed Feb 24, 2021 11:12 pm

My wife and I (both in our mid 60’s) are coming back to Spain at some point this year. She would like to buy and I’ve just brought up the idea of renting, although we have no kids or family to leave anything to when we are no longer here. The more I think about it, the more I am considering the rental route, as it would give us financial “freedom” to a great extent, whereas if we bought for 60, 70 or 80k, it ties up over half our savings etc, although I am not due for my state pension till Xmas 2022, about 12k euros per year. My wife thinks if we rent, then we could be moving on every 6 months without putting down roots and it’s dead money etc, but we could have a really good future in a better property if we rent I think and a nicer car too. Your thoughts please, thanks.
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Re: To buy or sell?

Postby polop » Wed Feb 24, 2021 11:33 pm

At the moment, I think I would go down rental route definitely till I have been in Spain for 6 months or so then either option has its advantages. Don't rush in to buying, and I am speaking as someone who is selling.
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Re: To buy or sell?

Postby RJC » Thu Feb 25, 2021 9:35 am

Hi, you need to check how many days you can presently reside continuously in Spain.
Not at all sure on this. Others on forum can no doubt advise better.
Prior to your retirement you will also need to take out health Insurance.
Xmas 2022 - all will be a lot easier - once you have your pensions.

Big question is what is happening and what will happen with regards to property prices ???
Now may well be a good time to buy - food for thought.
Much depends on your negotiating skills.
A word of caution - Cuidad Quesada estate agents are like the world over - not to be trusted.

Final thought - renting enables you to get to know a neighbourhood prior to purchasing your forever home.
Whilst renting you can always look elsewhere.
Purchasing in Spain is expensive with all the associated taxes and fees. Once decision made no changing your mind.
Last edited by RJC on Thu Feb 25, 2021 10:46 am, edited 1 time in total.
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Re: To buy or sell?

Postby apricorncup17 » Thu Feb 25, 2021 10:39 am

Thanks for your comment and I take your point about agents, I must have about half a dozen looking on my behalf, even offering a live viewing, but my view is to be there and actually view the property and not buy anything from an internet viewing, that smacks of desperation, but some people could prefer that option. Our intention is to take up Residencia when we get there and our gestor has indicated it could take up to three months to do, so we are prepared for that. We have lived out there previously, so we are looking forward to going back and having a far healthier and fulfilling lifestyle.
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Re: To buy or sell?

Postby RJC » Thu Feb 25, 2021 10:54 am

All the best in your endeavours!
You'll also need to appoint a solicitor and - if not already done - open a bank account. Mixed reports!
Two bedroom bungalows available for €90-110k
For alterations etc - Choice of good builders in Cuidad Quesada
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Re: To buy or sell?

Postby apricorncup17 » Thu Feb 25, 2021 11:32 am

I think living in Quesada carries a premium and I am comfortable with a budget of around 75-80k€, so it looks like it might be a bit further afield, but it also depends if the market price drops a little, I hear some people are leaving because they’re not resident and things like that, so we’ll have to wait and see, but am hopeful as I am prepared to put in the work of looking myself and will be searching different areas and getting out and looking, rather than let some commission based agent try and sweet talk me into buying. I will be getting a solicitor, hopefully my gestor will recommend one, but do you have any you could suggest also?
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Re: To buy or sell?

Postby Jonnno » Thu Feb 25, 2021 12:20 pm

I sold up 2 years ago and have rented in Quesada for 2 years. It works for me.
There is not really a lot of rental property about so you might need to compromise. We didn't want an apartment and wanted something on the flat so we were hard to please.
To me the question was did I want to tie up 100k+ in something that I couldn't sell easily.
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Re: To buy or sell?

Postby apricorncup17 » Thu Feb 25, 2021 12:37 pm

Thanks for your comment, we could have around 150k€ but as I mentioned earlier, my wife thinks by buying it would be more settling for her, but we don’t have any kids to leave it to, so why tie up 90k of money, when we could rent and have a very comfortable lifestyle, is it me?
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Re: To buy or sell?

Postby RJC » Thu Feb 25, 2021 12:57 pm

There is a good chance you - one or both of you - will make it to 90 or more.

The Pensions you have will comfortably cover your daily living expenses.

Question remains are you financially better off renting or purchasing?
Rent over a 30 year period could easily top €200,000

Other considerations:-
Can a rental property really be a 'home' as you want it?
Mentally, are you ready for a forever home?
Have you bits and bobs/furniture you want to bring with you?
Will you be within walking distance of main amenities?
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Re: To buy or sell?

Postby Jonnno » Thu Feb 25, 2021 1:02 pm

Long term stability was important to us too. We currently have a 5 year leasee.
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