Looking to buy an apartment and just after some free advice :-)

[phil84]

Hi
I have just joined the forum as i bumped into searching for the questions below.

I was just wondering if anyone could tell how much community fee's are generally in apartment blocks, I have been looking at a property in Dolf Del Sur/ Amarilla Golf but was just wondering how much the monthly outgoings would be, elec, tv, internet, community fees etc and any other fees like if there is council tax or similar. I currently live in England but don't want to miscalculate and leave myself short when deciding on what i can afford.

If anyone knows/ is a good agent to do the viewings with please could you let me know.

Thanyou for reading

Phil

[karinagal]

What size of apartment are you looking for? Are there any complexes that you've seen or are interested in? Welcome to the forum!!

[phil84]

Hello and thankyou again Karinagal :-) This forum is a real gem, been reading a lot of the previous pots and saving me days if not weeks of work.
I'm looking for a 2 bedroom apartment ideally but would settle for 1 bedroom. I'm hoping for something less than £80,000 now I have found out about the 6.5% stamp duty. I have 30% deposit and my next question was going to about mortgages if you aware of rates and availability?

I have no particular complex's i'm interested in at the mo, but narrowed the area down to golf del sur and amarilla golf but open to any suggestions really- usual criteria really, walking distance to a beach, shops, nice balcony/ roof terrace. Had to compromise a bit with my budget but seem to be some options out there.

Thanks Again

Phil

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apologies, I didn't even answer your question regarding size. I think 40m2+ 10+ for balcony, bigger the better really within budget.

Thanks

Phil

[slodgedad]

Regards the community fee question it is impossible to answer as different communities charge for different things so what might seem expensive could in fact be a good deal.

All charge a basic community fee which covers the running and maintenance of the communal facilities.

Some include rubbish collection, TV, water etc.etc. but the charge will reflect this.

I was talking to someone a few months ago whose charge was 30 a month more than mine and I thought it was expensive until he pointed out that TV, basura and water were included, which I have to pay seperately.

When you are quoted a community charge figure be sure to find out what's included before you decide if it's over the top or not.

[phil84]

magic, I will do some serious searching tomorrow and I will update you. Thanyou both for the help, loving this forum :-)

[CIM]

Hi Phil, it might be a good idea to ensure you qualify for 70% lending. Not everyone does as there is limited availability.

On a purchase of 90,000€ for example, the deposit required will be in the region of 37,000€ (30% deposit plus around 11% to cover fees and taxes.)

Thats best case scenario. If you can only get a mortgage for 60% then that deposit figure rises from 37,000€ (£31,600) to around 46,000€ (£39,300)

It may be easiest to work backwards - decide how much you can put in in total (40,000€ for example) and multiple by 2.4 to give you a rough idea of your absolute maximum budget.

[phil84]

Hi CIM

Thanks for the advice, could you tell me likely interest rates for both 30/50% deposits. I can stretch to approx £96,000 using that formulae but would prob limit to £80,000 for added safety, depending on the spec of the property etc.

Do you have any properties that would be suitable? I was actually on your site yest looking...... i will inbox you if thats ok.


Thanks

[CIM]

I have just replied to your PM and sent you a good property I have in that area.