I have just been reading an extraordinary story. The only strange thing for me though is it puts figures to something that I already knew, ie in the vast majority of cases you should not buy property from banks.
Here is the question.
Two similar flats in the same block, same size and everything. One is available for sale for 110k and the other for 160k. One has just sold. Which one and why?
Of course if you look at the actual price the house is not the lowest in Spain because it is so large but this house for sale in Sagunto is the cheapest house for sale in Spain, or at least in the Valencia region per square metre. It also runs successfully as a “Casa Rural” making a decent income each year and this summer it was rented for 16 out of 20 weekends with a couple of full weeks thrown in for good measure.
In the last blog post I talked about why you probably don’t want to buy a repossessed home through a bank in Spain. This is true for about 95% of that type of stock but every now and again some interesting ones come up. This is because you need to understand the different types of property that the banks have on their books and how they came to have them.
Finally after years of inaction the Spanish Government has acted to try and cut the backlog of new build homes by slashing the VAT rate on new build property from 8% to 4%. It is described as a temporary measure until the end of the year. This is good news for the new build properties that we hold in various parts of Spain that have already been slashed in price. Ally this to the weakening Euro, the pound was at 1.15 Euros yesterday and Spanish new build property has just become much more affordable. Look out next week for a post about our properties at half price in Desert Springs, Almeria, Benidorm and Murcia.
I was asked the question which of the properties on the site would you buy if you were moving at the moment? For me there is no competition and I will tell you where and why in a moment but first let’s look at why people buy property.
Everyone has a different motivation for buying a property in Spain or anywhere else for that matter. Mine are as follows. I have three kids one of whom is away at University but the other two are small and want outside space if at all possible. I need 4 bedrooms therefore but also I need an office space, living room and decent sized kitchen because I spend a lot of time there. I am not too bothered about off road parking and I would prefer to have outside space and a pool but without the hassles of looking after it.
I sent this mail about bargain properties for sale in Valencia out to my mailing list earlier in the week, they get first look at things that come up, and now here they are for you too. A couple of visits have been arranged through this mail already so be quick and arranged your visit if any of these properties are the type you are looking for.
What if you could buy yourself a life in Spain? I don’t just mean a house but also their life and lifestyle. You now have this opportunity. First some background. (Click on the Title to Read on)
After Thursday’s first ten tips for home staging your Spanish property here are the next ten tips that should tell you how to home stage your property in Spain. Learn from these mistakes and this time they are all my comments to the sellers. As you may be able to imagine none of the properties below got onto the Valencia Property site, apart from the one with the pot bellied pig and cats (It was just so cheap).