Spain is a sought-after location for Brits wanting to buy an overseas property. Besides having a warm climate and beautiful natural destinations, it’s affordable for Brits to purchase property. The cheapest towns in Spain in which to do so include Alcaudete de la Jara (£292 per sqm), Fuente Obejuna (£294 per sqm), and El Carpio de Tajo (£298 per sqm).
Once you get your property, however, maintaining it is a different story. After all, you don’t want your place to look worn down whenever you visit or face legal issues due to neglect. With that said, here are some things you should know about maintaining your property in Spain:
Know how much it costs to maintain a property
You’ll be subject to certain costs after getting a property in Spain beyond how much renovations will cost if you opt for them. One is the community fee, which goes towards maintaining shared spaces in your neighbourhood—like green spaces and swimming pools. This will vary depending on location or property type, but it usually costs £52-£113 monthly. You’ll also need to pay for rubbish collection depending on your location and how frequently they do so.
Even if your property is vacant, your utility bills can also pile up since you might leave a light on or have maintenance personnel use water regularly. Approximately, you might pay monthly fees of £13 for water and £17 for electricity. These costs help you maintain your Spanish property, so it’s vital to remain aware of them.
Have a schedule for property visits
Non-EU property owners can only stay in Spain for up to 90 of every 180 days. If you need to check your property personally, it’s thus best to make a trip out of it while abiding by the 90-day rule. If you’ve only recently acquired your property and must return frequently for paperwork or maintenance, consider planning a trip at least twice a year. Don’t worry: these trips don’t have to break the bank. Budget flight options can save you money if you book a good option.
easyJet is one airline you can turn to for this dual-purpose holiday to Spain. It offers cheap and short-haul bookings across various UK airports, including London, Southampton, and Belfast, to popular Spanish destinations for expats such as Barcelona, Madrid, and Seville. You’ll only need to deposit £60, and you’re free to change your holiday 28 days before your trip if any issues arise. In doing so, you’ll ensure efficient and cost-effective visits that allow you to pay for other aspects of property maintenance.
Learn about property taxes and insurance
People buying a property in Spain attract certain taxes, stamp duty, and fees. These are equal to 11% of the property’s price because of VAT. You’ll also have to pay conveyancing fees costing 1% of the property purchase price.
If you used a mortgage to get your property, expect adequate building insurance as part of the mortgage offer. Typically, you’d need to pay 0.05% of the purchase price for the annual insurance. Settling tax and insurance costs guarantees that your ownership is legal. That means making your payments on time is crucial to maintaining your property in Spain.
Keep the property in good physical shape
Maintaining the physical appearance of your property is for aesthetic purposes and safety. This is why our post ‘How to Protect Your Overseas Property Investment’ recommends regularly arranging property maintenance to prevent bigger issues, like gas leaks or bug infestations.
You can make this process more convenient by hiring an all-in-one property maintenance service so that all tasks can be done simultaneously for maximum efficiency. For this, you can try Starlight Property Cleaning and Maintenance. This company offers services on the coast from Málaga to Estepona, where many Brits reside. They provide deep cleaning, gardening, plumbing, and more services to keep your property in shape. If you’re planning major renovations, secure a permit from the local town hall, as inspectors are required to check your property and licence. Failure to get a permit may lead to fines or even demolition.
Property maintenance in Spain takes effort. Try the above tips to start your journey towards being a responsible foreign property owner.