MarkInt Posted February 5 Share Posted February 5 I'm curious to hear what people think. Considering selling our home in the UK and getting a new, smaller place in Spain (I have an Irish Passport), but another possibility could be to rent out our UK home and rent long-term in Spain. We're familiar with Spain, however, we would appreciate any suggestions of places to reside inland from Alicante or Malaga. It's hard to make a decision since it is such a big step. Quote Link to comment Share on other sites More sharing options...
Yapi Posted February 5 Share Posted February 5 If you’re considering selling your home in the UK and getting a new, smaller place in Spain, there are some important factors to consider. Renting out your UK home can be a great way to generate an income while you live abroad, but it also comes with certain risks and responsibilities. You’ll need to make sure that you have a reliable tenant who will pay their rent on time and take good care of your property. You’ll also need to factor in the cost of any repairs or maintenance that may be needed while the property is being rented out. On the other hand, if you choose to sell your home in the UK, you may be able to use the proceeds from the sale as a down payment on your new property in Spain. This could help you to avoid having to take out a large mortgage, which could be beneficial if you’re looking for a more affordable lifestyle. You’ll also have the peace of mind that comes with knowing that you no longer have to worry about any potential problems with tenants or repairs. Ultimately, it’s important to weigh up all the pros and cons before deciding whether to rent or sell your home in the UK. Consider how much time and money you’ll need to invest in managing a rental property, as well as any tax implications that come with being a landlord. Alternatively, think about how much money you may be able to save by selling your home and using the proceeds to purchase a property in Spain. If you’re not sure which option is best for you, it’s worth speaking to an experienced financial advisor who can help you to make the right decision. They will be able to provide tailored advice based on your individual circumstances and goals, as well as any potential tax implications. Quote Link to comment Share on other sites More sharing options...
Groupy Posted February 5 Share Posted February 5 Renting first is a great idea, you can check out different areas, find an area that suits you and your family. You can also check the weather to make sure the area doesn’t flood when it rains. If you decide to rent first, then you can get a better feel for the area before committing to buying a home there. When living in Spain, it is important to remember that people don’t usually go out until 11 or 12 pm and don’t usually get home until 4 or 5 am, or later. This is known as the land of the barking dog. But when that sun shines like no other, it makes up for all those late nights! If you are considering buying a home in Spain, it is important to rent first. Not only will you get a better feel for the area, but you can also check out different neighborhoods and determine which one is right for you and your family. You can also check the weather to make sure the area doesn’t flood when it rains. Renting first gives you the opportunity to see if there are any problems with the property before committing to buying it. You can also get an idea of what kind of price range you should be looking at for a similar property in that area. Quote Link to comment Share on other sites More sharing options...
Anderson Posted February 5 Share Posted February 5 Maintain a home in the UK. Secure a long-term rental. There are many opportunities from owners, so you're sure to find a suitable place. Please contact me if you'd like to hear about my experience. Quote I live in Spain, love this country and share my experience with others. Link to comment Share on other sites More sharing options...
Jenni Posted February 5 Share Posted February 5 It all comes down to your budget and your preferred climate. Whether you like a more arid landscape or a lusher one. Do you prefer a more historically Spanish area with other Spanish-speaking people, or an area with a mix of British locals? Personally, I prefer the Northern Costa Blanca for its lush greenery and diverse population - even if it is pricier than cities like Almeria or Murcia... It's a wonderful idea to try out different parts of Spain by renting a house for 6 or 12 months. With that in mind, good luck in your search - Spain is such a wonderful country to live in. I plan to move to Javea later this year. Quote Link to comment Share on other sites More sharing options...
Anderson Posted February 5 Share Posted February 5 In my point of view it depends on how you choose and who are the people helping you during the purchase process. I believe there are some fundamental things like - do not rush, read about different places, look into areas, visit them, explore life, ask here about people's opinions and experiences... There were many good things said about the rental, but it will never be your own home, you're limited in making changes in it, a landlord would want to sell it at some point and you can't stop it (like in experience here)...Another thing that your rental fee can be increased depending on the situation. So, I would think twice choosing long-term rental instead of buying your own, because of these factors. Perhaps you want to read about cost of living in Spain, they depend on the region. Quote I live in Spain, love this country and share my experience with others. Link to comment Share on other sites More sharing options...
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