About to purchase property - some quick queries if anyone can help

Well Hi again,

On our 3 BR apt when we are in.residence.

Bins-35€ approx quarterly.

Water-about 25€ every 2 months (Galasa)

Elec- we are with Nordic. When not there, standing charge of about 20€'pcm and up to 70€ pcm in Summer if we use AC & have parasitic rels.

IBI is 209€ pa

We are Residents.

Telplay 32€ ocm for wi fi

Spanish PAYG

UK 3 Smartphone x2  £42 pcm

Guess you have factored in Bank Charges.

Transport?????? If you keep a vehicle here then Road Tax, Insurance, ITV depending on age of vehicle.

Public Transport is cheapish but lamentable.  

Transport to & from airport-exclusiveairportshuttles or hire car.

Just a few thoughts,

Bob and Sandra

Mojacar Playa & Puerto Lumbreras

You do not have to take out Insurance with Bank. Often loaded year on year.

We are with Liberty Seguros & 12K jewellery 2O5€ pa.

Obviously I'm short of a few key facts but I'd say you have it about right, maybe 40 euros for a ''good'' Mb wi-fi and phone but no more.

I'f you established the exact Cd value it would help as everythings based on this amount (key fact no1) including the purchase costs - I paid more purchase tax than expected as the house was valued higher than the purchase price - but in re-iteration your not too far away at all.

I always add a 10% contingency, you'll find this helps with the peaks and troughts throughout the year, not just bills but eating out more in summer etc!

Good luck with everything....

Thanks Bob and Sarah and Chris.

Very pleased to hear your IBI tax as I had put into our spreadsheet about 250 euros as a guess but on a buying in Spain guide they'd suggested allowing between 400 and 1500 euros a year which I felt was high!

Is there a way to find out a property's exact cadastral value at the stage we are at?

Regarding Wi-Fi, we contacted a couple of providers and heard back from Next Communications. They suggested a 6mb price using 4g so no need for a phone line for 31 euros a month with an option to 'switch off' and pay 4 euros a month and ask to switch back on with two days notice which seemed a good option. Any feedback on Next Communications?

Interestingly they also said they can install a UK TV internet box for a one off fee including catch up services for 99 euros - seems worthwhile so again any opinion on that welcomed.

We won't be having a car. We can often get good prices renting so at this stage wouldn't change that. Interesting to read your comments on public transport/taxis.

My mum and dad are in their 70s and I think they'd enjoy a few weeks here and there at the property and without a car. I'm assuming taxis would be easy enough for them to use to and from the apartment in the playa?

Thanks again for the very helpful comments. I'll probably be putting another post up elsewhere so not to confuse this around potentially renting the property out for holiday lets too but not here as it will send the post away from the origibal questions.

Hi,

Really can't help with wi fi, internet or related. Total ignorance I'm afraid. We use a Firestick with stepson's Netflix, Google, terrestrial channels, etc. Gratefully we have a dear friend who is a website designer who advises & implements. Telplay discontinues when we leave. We have nothing at cottage. Films on EHD only.

Re. The Catastral value, thought Solicitor would inform.

A short while ago someone posted about the positives & negatives of renting. All I would comment is that none of our properties are rented ( Spain x 2, UK, India, Oz ) as to us they are homes full of memories. Still, I wish you luck.

You will be aware that any Rental Property has to be notified to Town Hall, VIC, Lender/ Insurance. Of course so many fail to do so & hope to go unreported.

Bye for now,

Bob and Sandra

Thanks again Bob and Sandra.

Yes we will certainly be doing it legally, getting the appropriate tourist licence and paying the taxes due.

Looking across the forum, a little concerned to read that taxis aren't particularly reliable. Would be important for my parents.

Hi,

Never used one. Gratefully we have a vehicle. Think language may be a problem. Need to use firm where driver / dispatcher speaks English. Also Smartphone with Google Translate.

Spain can be so frustrating.

Will send pm.

Bob and Sandra

Hi. We are in Vera Playa and use Next. The €99 catch up tv is great. It goes back 14 days. It does glitch just occasionally but rarely. We miss it when we go back to the UK. 

Its easy to get the internet switched on and off. Can be done in advance from the UK. 

Good luck

Martin. 

Hi again,

Just noticed article from EWN regarding increase in electricity price increase & then people's comments regarding substantial.increases in their bills.

So if so.this may feed thru to.substantial Summer increases with AC usage. Possibly problematic with renters.

Just thought to pass.info along.

Saludos,

Bob and Sandra

Bob L

Re Cadastral value, your lawyer will be able to tell you what this is. It could well be somewhat lower than the purchase price of your property. We bought an apartment in Mojacar a couple of years ago for €149k and our Cadastral value is around €65k (I don't have the exact figure to hand). The values in Mojacar were updated within the last ten years and therefore the calculation for the IRNR is the Cadastral value x 1.1% x the tax rate, which for EU residents 19%. Therefore ours works out to be about €135 per annum. If you are joint property owners, you need to account for half of this each in your tax return. This is something that you have to do yourselves, or get someone to do for you, which will cost you a fee. We did our own. The form that you need (form 210) can be found here:

https://www.agenciatributaria.gob.es/AEAT.sede/en_gb/procedimientoini/GF00.shtml

There is an English version and it's fairly self explanatory. The tax is for each year to 31 December and is paid by the 31 December of the following year. If you buy during the year, you can pro-rata the amount which is payable. Just work out the number of days that you have owned the property in the year, divide by 365 and the multiply that into the annul figure. So say your figure was €135 for the year and you had owned for say 170 days, then you would work out €135 x 170/365 = €62.88 and then split that over two tax returns, if there are two of you. When you have completed the return, which you do on line and the print out, you simply take it into your Bank in Spain, who will charge the tax to your account, take a copy of the form for submission and provide you with a receipted copy. Not wanting to pay someone else to do this, I did quite a bit of research into it, but ultimately each form 210 only took a few minutes to complete. In any case, if you are buying this year, it's something that you won't have to worry about until later next year. Just make sure that you don't forget though...

Hopefully of some use.

Steve.