Mortgage Articles & Advice

Buying Property on The Costa Blanca ~ Coastal or Rural

One of the main decisions you will need to make when looking to buy a property on the Costa Blanca is whether you are going to buy a coastal or rural property. To a great extent this will depend on your reasons for buying and how you intend to use your new property
If you are wanting income from renting, to fund a mortgage for example, then you will need to be in the more popular tourist areas that are mainly by the sea. There is a growing rural tourist trade but it is still comparatively small. You may be able to secure a long term rental for an inland property with someone who wants to live in Spain but cannot, or does not want to, buy. Long term renting can give an annual rental income close to the bottom line achieved with short term holiday lets but it is important to have a proper contract to ensure that you, and the tenant, comply with the law and that you protect your asset.
Rural properties can show higher capital gain and last year that was around 20% and in some cases up to 50%. They are ideal for holiday use all year round by family and friends who would like to see and experience more of the real Spain. Inland detached properties tend to have larger plot sizes, perhaps an orchard, and are ideal if you have children or would like to have additional facilities such as a tennis court. In the north Costa Blanca region there are many small to medium sized towns and villages with excellent facilities within 30 minutes drive of the coast and some have an established English community and first class roads connecting to the main towns and to the airports at Alicante and Valencia.
If you do decide to buy inland you may choose an older property that is in need of renovation. Town houses and detached rural properties for renovation can still be purchased quite cheaply and building costs are lower than in the UK. However, do bear in mind access for equipment and materials if you find something tucked away that needs major work.
Alternatively have a look at new properties that are nearing completion that can also be good value. This would give you the opportunity to influence the final details of the property such as tiles and kitchen units for example without having the hassle of co-ordinating the tradesmen for a renovation project.
Another option is to buy a plot of land and design and build your own dream home. This is the most demanding of the options needing time and patience and it is essential that the project is properly managed. If you are not able to spend extended periods of time in Spain yourself to undertake this task it is important that you have a reliable local manager to oversee the project. Holidays and Homes can arrange this for you and keep you up to date with progress on a regular basis. This way you will ensure that the end result meets your specification and expectations. Go to http://www.holidaysandhomes.com for more details.

Anthony Carter is the founder partner of Holidays and Homes, specialising in property sales and rentals on the Spanish Costa Blanca. http://www.holidaysandhomes.com

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