Hi,

You have certainly come to the right place to get the information... no need to go elsewhere

Why not put the kettle on, and have a read through this thread for some useful tips and advise.

Mark

Hi Billiwizz, can I ask is the place just for letting or will you also use it for holidays and have you any place in mind.what sort of price are you talking as that will make a big diference as to what area you can buy if you want somthing on the coast it will cost a lot more.
Stephen.

most holiday makers prefer to be near the sea,check on private apartments to rent in the area you are thinking of buying in,it will take hrs to do,but well worth it,and see their availability calenders,good luck

Billiwizz

Get down to your local book shop or W.H. Smith and buy "Buying a Home in Spain" by David Hampshire. Everything you need to know is in there.

Hi everyone,we are looking to spend around £100,00 we are really wanting to rent it out but may also like ourselves to go a couple of times a year,we are not really decided on an area but would like to be near a beach and not more than 40 mins away from the airport,we have thought about going to these exhibitions that everywhere seems to have these days but would like some independant advice first.

Before buying check out some of the pitfall, especially off plan properties.

check out the forum at
spanishpropertyinsight.com

Hello again Billiwizz,Again it depends on what area,Costa del Sol, Costa Blanca or any of the other costas you can still get a place for your budget at the coast but it does creep up the further up North you get in the Costa Blanca not sure about the other parts of Spain.What I would say is if you are looking at a mortgage dont depend on the rental to pay the mortgage.If you do a google search you will come up with loads of good stuff to give you an idea of prices in any area you are looking at.
Stephen.

ÃÅ' would advise staying away from the exhibitions. These companies have huge marketing costs which the need to re coup from somewhere!
Have a look at some of the Estate Agents and just visit a few areas.
I live on the eastern Costa del Sol, midway between Torrox and Torre del Mar, and not far from Nerja. If you are interested I can let you have the web addresses of some of the local companies so you look at what they have to offer. I can also let you know the name of a large company with a very poor reputation!
Send me a PM if you think I can be of help.

i TOTALLY agree with kayley,from personel experience

Hi Billiwizz

Have you considered the Canaries? Would give you a longer letting season, for despite what they promise you at these exhibitions, there is no way you will be full year round with Golfers! You won't be full all year in the Canaries, either. I don't think I know anyone who has fully covered their mortgage, regardless of where they have bought ... I suppose we all cling to the hope of capital appreciation or a part time holiday or retirement home for ourselves.

Your budget should buy you a new one bed apartment quite close to the sea here in Tenerife. There are some very active threads in the Ex Pats forum that are worth checking in on ... El Mirador, Dinistia and Palm Mar ... and no doubt the other islands have such topics too.

Best of luck ... and stay away from those exhibitions
Doreen

Hi everyone thankyou so much for all your replys,Imust admit it l was hoping of relying on the let to pay the mortgage,we have thought of the canaries as we thought the weather better for longer lettings,although some of you dont think so,maybe it wasnt the investment we were hoping for,is there anyone out there that already has an apartment they rent out that could give us some advice.
many thanks

Hi Billiwizz

We bought an apartment in Tenerife 3 years a go and have just completed on a second off plan investment.

http://www.dinastia-apartment.com/

It has been the best think we have ever done!!!

What sort of advice do you need???

I have a one bedroom rental apartment and would be happy to answer any questions.

Peter ...can you elaborate on why its the best thing you have ever done please...

Have you sold a property on Tenerife and made a huge amount of capital gain?

Do you have people queuing up to rent your property all year round?

Its not a cheeky question because i'm thinking of buying in Tenerife ...its just that unless i'm mistaken underneath the veneer of the sales agents talk there just appears to be huge amounts of both second hand and new properties unsold(some on the market for ages) and they are still building!

Talk me into it

.......personally speaking, I wouldn't think that taking such a big step as commiting a very large amount of money to a property is something you can be " talked in to "...... I'm very glad I've no mortgage to worry about with our apartment....paying its way is one thing, but higher outgoings and financial risk would spell trouble...just my own opinion !

Hi Hotel Stayer, It's the same in most parts of Spain I think you have to have something diferent to all the others to try to bring in the punters.
Stephen

Peter ...can you elaborate on why its the best thing you have ever done please... Have you sold a property on Tenerife and made a huge amount of capital gain?

Do you have people queuing up to rent your property all year round?

Its not a cheeky question because i'm thinking of buying in Tenerife ...its just that unless i'm mistaken underneath the veneer of the sales agents talk there just appears to be huge amounts of both second hand and new properties unsold(some on the market for ages) and they are still building!

Talk me into it

Hi Hotelstayer

Why is is the best thing we have ever done!!

We bought has a long term investment 7 years minimum and we are now 3 years into our first apartment which is bought and paid for (no mortgage).

We are renting out and acheiving well over 30 weeks a year which after expenses is giving us about an 8% return.

Also a realistic valuation on the refurbished apartment as pic below is showing a healthy 10% increase per annum.



We have recently completed on an off plan purchase for a second luxury apartment (50% mortgage) as pic below and since commencing rentals in January we now have 20 weeks booked for the coming year which after expenses is coming close to covering the mortgage and any additional rentals will put is into a profit in the first year!!!



In addition the bank valuation at completion and after furnishing the apartment is showing a 20% return on the off plan investment of 2 years ago.

Yes you are quite right at the moment it is a buyers market and investors who bought off plan here (Los Cristianos) with a view to selling on quickly at huge?? profits before completion have got their fingers burnt and there are now new build completed apartments on offer for the original builders price paid 2 years ago because they are desperate to get rid before they are forced to complete.

So PROVIDING you are looking medium to long term there are some bargains to be had but you need to be clued up and you are right some agents will still try to sell you the "dream" of massive overnight profits of 30-40%.

Those days have gone thankfully and I hope never to return at least here. Maybe those looking for such huge returns will be attracted to the new areas, Turkey, Bulgaria, Eastern Europe etc etc. Good luck to them.

I am more than happy with our more modest but achievable long term profits and not forgeting the added bonus of our cheap holidays in the sun in a beautiful 12 month climate.

Hotelstayer

Got your PM but I cant reply via PM!!

Can you send another PM with email addy or telephone contact.

Peter

Congrats Peter - those are impressive figures! You are obviously very clued in and market your apt.s well. A slight quibble - I wonder were any of those weeks other people waiting to close on Dinistia

I too wish I had bought 3 years ago - there have been some very large increases for the right units in that time, but as you say, those days are over.