# Spain houses, is there a catch?



## Civic89 (Feb 2, 2011)

After looking in a variety of regions in Spain the value for money seems to be too good to be true.
For example over half the areas in Alicante have houses as follows:
Detatched
3+ beds
1-2 bathrooms
Fitted kitchen
Porch
Decent sized gardens which have a pool and plenty of nice trees
Air con
Mains water and electric
Central heating
Most are in beautiful looking areas for under £180'000
The ads dont state the pool is shared with anyone else

However being 21 Ive never bought a property before so can anybody explain the difference when buying a villa, (is it just the type of property for example a bungalow?)

What does 'Resale' mean on the ad?

Compared to UK houses for similar prices these are luxury, so is it how it seems?


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## Alcalaina (Aug 6, 2010)

Prices are very low because of the economic crisis. Lots of Brits are trying to sell up and go back to the UK, and some are practically giving their houses away. Loads of builders went bankrupt and properties have been repossessed by the banks. Don't rush into anything, because prices are forecast to fall by a further 15% or more this year.

Resale just means "second-hand", rather than buying straight from the builder. Sometimes they are for sale "off plan" which means they aren't finished yet.

A villa just means detached I think, rather than an apartment. They are sometimes called 'chalets'.

Your biggest issue is to make sure that the property is legal, i.e. it hasn't been built on land which wasn't zoned for residential use. There are thousands of examples of people stuck with such properties, and some are even being demolished without compensation.
Always get an independent solicitor (not one recommended by the estate agent!) to check the paperwork and don't hand over any money until they have confirmed it is all fine.

Obviously you wouldn't buy a place without seeing it, but try and see it in the winter, as damp is frequently a problem and in the summer they just paint over it. You also need to get an idea of what the area is like, which you can never tell from the pictures. Google Earth/Streetview can be very useful!


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## djfwells (Sep 28, 2009)

Civic89 said:


> After looking in a variety of regions in Spain the value for money seems to be too good to be true.
> For example over half the areas in Alicante have houses as follows:
> Detatched
> 3+ beds
> ...


'Resale' mean that property is not a new build.
Almost all Villas are built on one level (sometimes with an underbuild), so yes, a little like a bungalow.
180k sounds about right, but you could probobaly get a better deal in certain areas if you shoopped around and were flexible with your requirements.
Catch ? - Is the property legal ? - IE does it have a Cedula ? The Cedula is basically a document that is issued by the Town Hall in stating that your property is recognised, fit for habitation and legal. A lot of properties in Alicante do not have this document, which makes things like getting a mortgage etc.. difficult.


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## jimenato (Nov 21, 2009)

djfwells said:


> 'Resale' mean that property is not a new build.
> Almost all Villas are built on one level (sometimes with an underbuild), so yes, a little like a bungalow.
> 180k sounds about right, but you could probobaly get a better deal in certain areas if you shoopped around and were flexible with your requirements.
> Catch ? - Is the property legal ? - IE does it have a Cedula ? The Cedula is basically a document that is issued by the Town Hall in stating that your property is recognised, fit for habitation and legal. A lot of properties in Alicante do not have this document, which makes things like getting a mortgage etc.. difficult.


Not around here. There are villas near here with two or three stories. Not many on one level. 

I think a villa is just a detached house - sometimes a bit bigger and grander than average.


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## DunWorkin (Sep 2, 2010)

Yes, property is for sale around here for silly prices at the moment. Our house is on the market and we have dropped the asking price twice but still no takers.

If we do sell it will mean a big loss in money since we bought 7 years ago.

The disadvantage is the prices could drop even further and you could be stuck with a property that is worth virtually nothing.


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## Civic89 (Feb 2, 2011)

Good info here guys thanks.
So basically as long as your careful theres no catch!
Just another reason to add to the list to leave England...


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## djfwells (Sep 28, 2009)

Civic89 said:


> Good info here guys thanks.
> So basically as long as your careful theres no catch!
> Just another reason to add to the list to leave England...


Research the area; research the market; decide what type of property you are ideally looking for; don't cut corners with professional legal advice; Don't check your common sense in at Leeds Bradford airport when leaving the UK - you would be surprised how many people make property decisions here in Spain that they wouldn't dream of making in the UK.


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## mayotom (Nov 8, 2008)

Civic89 said:


> Good info here guys thanks.
> So basically as long as your careful theres no catch!
> Just another reason to add to the list to leave England...


Well leaving england is understandable, but why move to spain, what are you going to do there, I presume at 21 you will need to be working, this is not easy to come by in Spain these days.

Never choose to buy a house because it appears to be good value, what is good value to one person is not good value to another. for example if you buy in alicante and hope to work to pay for it then its bad value as work is hard to get and low paid, whereas if you have millions behind you and never plan to work then you may get value from your purchase


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## jojo (Sep 20, 2007)

Civic89 said:


> Good info here guys thanks.
> So basically as long as your careful theres no catch!
> Just another reason to add to the list to leave England...



Yes but its all relative and wages tend to be lower in Spain so therefore getting a mortgage and paying it off on a cheaper property is no different than doing it in the UK + jobs are harder to come by + its not easy to get a mortgage either in Spain or in the UK on a property in Spain. Property prices in Spain are not as stable as they are in the UK - well, who knows what property is doing in either country, but I think in the UK its a safer bet!? I personally wouldnt buy in Spain, I have a house in the UK that has probably lost a tiny bit since the start of the recession, however, when we moved here three years ago, property we were looking at then is now 100,000€s cheaper than then!

Jo xxx


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## nigele2 (Dec 25, 2009)

jojo said:


> Yes but its all relative and wages tend to be lower in Spain so therefore getting a mortgage and paying it off on a cheaper property is no different than doing it in the UK + jobs are harder to come by + its not easy to get a mortgage either in Spain or in the UK on a property in Spain. Property prices in Spain are not as stable as they are in the UK - well, who knows what property is doing in either country, but I think in the UK its a safer bet!? I personally wouldnt buy in Spain, I have a house in the UK that has probably lost a tiny bit since the start of the recession, however, when we moved here three years ago, property we were looking at then is now 100,000€s cheaper than then!
> 
> Jo xxx


Heed Jo's sensible words. And she didn't mention movements in the exchange rate that might destroy any 'back to UK' bailout plan


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## fourgotospain (May 4, 2009)

The bottom line is: do you want a home in Spain for the next 15 years? Because the simple supply and demand equation works that way here. In the UK there a many people (65 mil) on a small island with a limited number of properties, in Spain there are fewer people (45 mil) on twice as much land with masses of housing, made more so as the apartment/flat is a favoured choice over a house. 
The words in the back of your mind ALL the time should be 'I will not be able to sell it in a hurry'. £180,000 may be cheap for a lovely villa but that's a lot of money to tie up.


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## Civic89 (Feb 2, 2011)

Yes it wont be for over 4 years yet (when I complete management accountancy)
And I wouldnt buy a house in the UK or Spain without a hefty deposit (around £40'000) on a £170'00 house. Plus we wouldnt move without renting in the area for a least half a year.
Thanks again


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