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To rent or buy??

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To rent or buy??

Postby kit444 » Wed 12 Jul 2006 11:25 GMT

Could I have peoples thoughts please. We would like to move to the Nerja area, sell our house and live there permanently. But don't know what to do regarding renting or buying. Is it possible to rent on a really long term (ie years) and if so, is it wise?
thanks for any replies.

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Postby melosine » Wed 12 Jul 2006 16:45 GMT

If you can best to rent. first .Areas favoured by the "second home" market can be deserted out of season.
In Spain rental agreements are usually no longer than an 11 month term but I understand re-negotiable.
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Postby Alan-LaCala » Thu 13 Jul 2006 18:31 GMT

Unless you are absolutely sure of the area, best to rent first. Gives yu a chance to check out the area thoroughlly.

Good luck.

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Postby ricpart » Tue 26 Sep 2006 15:46 GMT

renting sounds wiser, yes....

rental agreements are done in Spain for 11 months ONLY in case you're renting a furnisehd flat, summer or seasonal flats etc... for long-term flats (the most usual here) the Law establishes a minimum of 5 years (a minimum for the owner, you don't have to respect it, and can leave the flat whenever you want).

Good luck!

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Postby Iberian » Wed 6 Dec 2006 00:17 GMT

hi there,

I would rent first as the market for purchasing of houses in Spain seems to be very slow and it seems that it is a buyers market, only trouble is Nerja and Frigliana do hold their money fairly well.
Rentals work like this in Spain, you can have a short term rental, that will either be a 1, 3 or 6 months tenancy. After that you will have long term tenancy this will normally be a max of 11 months. Now this can then be rolling after that initial 11 months.
Be carefull who you rent from, so called rental agencies and private persons sometimes ask for a finders fee,or ask for additional fees, this is actually now illegal.
When you find a place pay only 1 month deposit and 1 month in advance.
When you sign the tenancy agreement no one is allowed to put up the rent within the term of the tenancy.
Remember if you break any conditions in the tenancy you will be liable.
The tenancy contract will by law be in Spanish, do not sign anything unless you know exactly what it states.

I hope you find what you are looking for, and I will say you will definately enjoy living in Spain.

By the way we are in property, this is why I am able to give you this advice.

Regards
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Postby GCM » Tue 13 Feb 2007 12:22 GMT

Why would anyone sell their property in the UK?

Prices are rising while Spain is by most accounts somewhat flat right now.

You can rent your property in the UK and use the income to rent in Nerja and see if you take to life in Spain.

It might be that if you sell up later in Spain you won't be able to buy what you used to have in the UK.

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Postby Kay » Tue 13 Feb 2007 13:20 GMT

Why would anyone sell their property in the UK?


To raise capital to buy elsewhere, perhaps? Obviously not an issue if you're planning to rent.

You can rent your property in the UK and use the income to rent...


Yes, we did this for a few years and it was a nightmare. Be very, very, careful. (See Trashed House in my sig.)
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Re: To rent or buy??

Postby John100 » Tue 22 Nov 2016 11:14 GMT

Nerja is a wonderful place to live. Renting is always a safer option until you are sure you want to stay. A problem at the moment is there is a serious shortage of long term lets. This is because the place is so popular that it is more lucrative for owners to let out property for short term holiday lets. Some do this most of the and a 3 to 6 month let over winter for the snow dodgers. This may work well for you to try it out. It will let you see the place out of season too.
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