Alvy
12-08-2016, 15:47
Hello all,
(long one...)
We(not a Royal,but family of 4(42M;39F;3F and 1 year old boy)) are definitely moving, (depending on the ground work) to Spain and more specifically to the South side of Tenerife (Adeje or near by).
I'm coming 27'th and to be honest all the comms so far on expat sites, by email to estate agents or attempts to do so on a phone are futile, "different" to the actual comms in person.
Wander if there are any, that would be known and recommended
(Conveyancing solicitor/Financial Adviser or even Estate agent in Tenerife)?
I've read loads and loads of similar threads about mainland Spain and being ever so uncertain as how we'll invest, depends when we will move, how and most importantly what we do about our own living arrangements.
"We"(royal)- (she) has made a list of (16 "only" now) most varied properties for me to inspect, in the areas "we" would like to settle inn.
I had offers on our house (in UK) and long story in short, we expect to pay up mortgage and have 150kEuro + equity released to buy and funds to cover us for:
Property Purchase and legal fees (approx~11%)
Enough to show each €5k for the bank for and for the period of gaining employment.
£3k for shipment of essential of goods
Few k's for unforeseen expenses
In options, we are open to:
.................................................. ........................
1- Holiday complex apartment, great short term return, but it wouldn't be suitable for family living long term. Purely for the income, whilst firtly, we'd only rent out own accommodation a bit further away from beaten track
.................................................. .........................
2- small house to have it rented out (long term), before we'd move over for good, in prime area.
.................................................. .........................
3- (most tempting idea) is to buy biggest available-affordable house, split it in to rental part apartment and our living quarters.(I am half decent builder, could do all of the work myself). Perfectly aware 40%+ unemployment, hence need at least some rental income to make ends meet in the long run.
"Super-laws"- Licensing for short term lettings in Tenerife, ... very much concerned weather letting agent wouldn't get us in to trouble-jeopardy by doing its bit, but not declaring licensing in the new owners name. New license is only possible after we have resided for 6 months, right? What are the requirements and taxes and charges for short term rental apartments to the resident owners?
There are conflicting reports in relation to the "non tourist"- long term lettings also, as how hard and or complicated to be landlord without being full resident (NIE etc) to have a valid contract, hence to have reliably paying tenants. Bit of sticky one, as it seems we might need to rent out and WILL rent out some or the other at some stage.
we expect to make living at 1000- 1500Eur a month, (such income in complex rentals from one apartment is achievable). Long term rentals are only half or third of that.... so would mean needing to have 2 apartments rented and live in a third...
"Cunning plan"- is to have allowance of 6 first month's to find employment and more stable of an income and to have one sort of apartments rented out to have top-up to living expenses.
It is legalities and all of the small print, that conveyancing solicitors and financial adviser here working out for us great, what we need to rely in Tenerife TBH.
It is "minor things" as buying fees of 11% +, that could make or break camels back in our situation and to be dipping in to reserve money or to end up with even greater unseen fee's/expenses of rental (IE non income) pit-falls we certainly don't want.
(side points- talking us, me out of it- well, thanks for the concerned... we will be seeing you anyway :D
I've got rather plain Bupa policy, that we think of exploiting for a first year, but whenever we'd be pushed in to more cover or after the first incident, involving doctors and treatment for over 24hrs, policy would lapse, how much, we'd have to pay?
+ clarification of "ley de los menores" would be good :) )
Most grateful in advance,
Thanks!
- - - - - - - - - - merged double post - - - - - - - - - -
Issues as
http://elpais.com/elpais/2016/08/12/inenglish/1471001940_844111.html
and
http://elpais.com/elpais/2013/05/06/inenglish/1367842766_596787.html
We are reading with most trepidation, hence , once again, we got to absolute need for adviser/helper with all of it ;)
(long one...)
We(not a Royal,but family of 4(42M;39F;3F and 1 year old boy)) are definitely moving, (depending on the ground work) to Spain and more specifically to the South side of Tenerife (Adeje or near by).
I'm coming 27'th and to be honest all the comms so far on expat sites, by email to estate agents or attempts to do so on a phone are futile, "different" to the actual comms in person.
Wander if there are any, that would be known and recommended
(Conveyancing solicitor/Financial Adviser or even Estate agent in Tenerife)?
I've read loads and loads of similar threads about mainland Spain and being ever so uncertain as how we'll invest, depends when we will move, how and most importantly what we do about our own living arrangements.
"We"(royal)- (she) has made a list of (16 "only" now) most varied properties for me to inspect, in the areas "we" would like to settle inn.
I had offers on our house (in UK) and long story in short, we expect to pay up mortgage and have 150kEuro + equity released to buy and funds to cover us for:
Property Purchase and legal fees (approx~11%)
Enough to show each €5k for the bank for and for the period of gaining employment.
£3k for shipment of essential of goods
Few k's for unforeseen expenses
In options, we are open to:
.................................................. ........................
1- Holiday complex apartment, great short term return, but it wouldn't be suitable for family living long term. Purely for the income, whilst firtly, we'd only rent out own accommodation a bit further away from beaten track
.................................................. .........................
2- small house to have it rented out (long term), before we'd move over for good, in prime area.
.................................................. .........................
3- (most tempting idea) is to buy biggest available-affordable house, split it in to rental part apartment and our living quarters.(I am half decent builder, could do all of the work myself). Perfectly aware 40%+ unemployment, hence need at least some rental income to make ends meet in the long run.
"Super-laws"- Licensing for short term lettings in Tenerife, ... very much concerned weather letting agent wouldn't get us in to trouble-jeopardy by doing its bit, but not declaring licensing in the new owners name. New license is only possible after we have resided for 6 months, right? What are the requirements and taxes and charges for short term rental apartments to the resident owners?
There are conflicting reports in relation to the "non tourist"- long term lettings also, as how hard and or complicated to be landlord without being full resident (NIE etc) to have a valid contract, hence to have reliably paying tenants. Bit of sticky one, as it seems we might need to rent out and WILL rent out some or the other at some stage.
we expect to make living at 1000- 1500Eur a month, (such income in complex rentals from one apartment is achievable). Long term rentals are only half or third of that.... so would mean needing to have 2 apartments rented and live in a third...
"Cunning plan"- is to have allowance of 6 first month's to find employment and more stable of an income and to have one sort of apartments rented out to have top-up to living expenses.
It is legalities and all of the small print, that conveyancing solicitors and financial adviser here working out for us great, what we need to rely in Tenerife TBH.
It is "minor things" as buying fees of 11% +, that could make or break camels back in our situation and to be dipping in to reserve money or to end up with even greater unseen fee's/expenses of rental (IE non income) pit-falls we certainly don't want.
(side points- talking us, me out of it- well, thanks for the concerned... we will be seeing you anyway :D
I've got rather plain Bupa policy, that we think of exploiting for a first year, but whenever we'd be pushed in to more cover or after the first incident, involving doctors and treatment for over 24hrs, policy would lapse, how much, we'd have to pay?
+ clarification of "ley de los menores" would be good :) )
Most grateful in advance,
Thanks!
- - - - - - - - - - merged double post - - - - - - - - - -
Issues as
http://elpais.com/elpais/2016/08/12/inenglish/1471001940_844111.html
and
http://elpais.com/elpais/2013/05/06/inenglish/1367842766_596787.html
We are reading with most trepidation, hence , once again, we got to absolute need for adviser/helper with all of it ;)