Cheap Spanish homes!

303 · #1 (**permalink**) 21st May 2007, 09:42 PM

My friend moved out to spain in January 2007.
I still keep in touch with him and so far hes doing very well.
He moved out to Altea to start a Holiday home buisness, renevating his property and now Letting it to families.
I couldnt believe him when he told me that he bought a 5 Bedroom house in a Beautiful part of Altea for 45,000!!

Are all spanish houses this cheap?? He hasnt found anything wrong with his house and i think is living peacefully in it till he starts running his buisness!

Anyone else found these sweet deals in Spain??

Goldberg · #2 (**permalink**) 27th May 2007, 10:07 PM

He brought a 5 bedroom property in Altea for 45k sterling or euros, or 45k something else.

Well he is a very lucky man. Seeing that most apartments start in Altea over 150k sterling to get a villa with 5 bedrooms to reform, is certainly a bargain. I hope he can find me one.

Let me know if he wants to sell it, maybe we can find an investor to offer him 50k, a nice 5k profit.

mkettner · #3 (**permalink**) 6th June 2007, 05:40 PM

My wife and I were looking for potential places to live within Madrid and were surprised to find an apartment in the downtown core available for only $2000 CDN. From the pictures it didn't look extravagant, but not disappointing either. Is this typical? I was also not sure about the what the real estate laws were in Spain as this could provide some grief. My wife and I were considering buying it simply as a vacation home, but wanted to look into it further.

I am interested in everyone's feedback.

Michael

ellenjoan · #4 (**permalink**) 17th June 2007, 09:14 AM

2000 CDN = 1.307 € or just enough to buy a good fly ticket.

Believe me when I say "there s a strang smell there".

My advice = never buy anything without checking it out (is it a legal house, is it registred, have it valued etc...)

You would not believe how many Brits have bought illegal houses without even knowing it.

80% of the properties do not have the correct papers or have incorrect information !

I can't say enough "BE CAREFULL" & check it out !!

I ve just seen it too often...

chris · #5 (**permalink**) 30th July 2007, 10:16 AM

80% of houses are illegal or incorrect. Wow' we new their were some that were iffy and had to be careful had no idea their were so many. We did want to go to oz but that is not possible now so have gone back to plan A and move to spain. Am concerned about this though as we want an older property in a spanish area we were looking at costa tropical we were hoping to buy somewhere for about 130.000 sterling from looking on the net we belived that was possible what are your opinions?

atlast · #6 (**permalink**) 30th July 2007, 08:23 PM

What would happen if mkettner bought the place illegally for $2000 CDN? Would he have use of it, and only have problems when he tried to sell? Would he be arrested? Fined? Because if he could use it, but couldn't sell it, he would probably be getting his money's worth out of it as a vacation home, and not care about getting money from a sale.

Big Pete · #7 (**permalink**) 7th August 2007, 08:37 PM

Quote:

Originally Posted by 303

My friend moved out to spain in January 2007.
I still keep in touch with him and so far hes doing very well.
He moved out to Altea to start a Holiday home buisness, renevating his property and now Letting it to families.
I couldnt believe him when he told me that he bought a 5 Bedroom house in a Beautiful part of Altea for 45,000!!

Are all spanish houses this cheap?? He hasnt found anything wrong with his house and i think is living peacefully in it till he starts running his buisness!

Anyone else found these sweet deals in Spain??

Hmmmmmmmm maybe hes just told you that to make it sound good ?
As 45k will not be a swish pad i dont think

Big Pete · #8 (**permalink**) 7th August 2007, 08:40 PM

Quote:

Originally Posted by atlast

What would happen if mkettner bought the place illegally for $2000 CDN? Would he have use of it, and only have problems when he tried to sell? Would he be arrested? Fined? Because if he could use it, but couldn't sell it, he would probably be getting his money's worth out of it as a vacation home, and not care about getting money from a sale.

Yes thats a valid point , i imagine would take years before its flattened so on the face of it if its used and its cheap would get moneys worth ..

well pointed out young man

atlast · #9 (**permalink**) 10th August 2007, 05:51 PM

Old woman, but that's OK. It's funny, I've read a lot about people being scammed buying property in places like Bulgaria. I was surprised to find that Spain is so dodgy.

Goldberg · #10 (**permalink**) 28th September 2007, 08:04 AM

Spain has only been 30 years since the Franco regime has finished so 30 years of capitalism, the systems are not that good, eg. land registry etc, the bureaucracy in spain is legendary.

In more established areas, eg. coastal things are more international. I think you have more problems inland, in real spain, there you are most likely to be scammed, if not by the expat real estates on the coast.

Please read a link i wrote for buying property overseas first time buyer, is a guide.