Lanzarote Help Please!

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Lanzarote Help Please!


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Old 16th April 2019, 01:21 AM
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Unhappy Lanzarote Help Please!

Good Morning!

I've just joined and could really do with some advise about Lanzarote please.

We are hoping to buy somewhere in/near Playa Blanca to use for holidays and to rent out for income with a view in 4 years time when we retire to stay for 3-4 months over winter and rent the property out the rest of the time.

We were all ready to buy a property and our solicitor at the last minute advised us not to!! We are now looking at a property on Villas Blancas and at Casas Del Sol. Two very different properties but wondered if anyone can offer any advice as to whether these are both good areas, both from a safety point of view and also potential renting out?

We really prefer the location of the Casas Del Sol property (and we know it rents out well) but the property is small, expensive for what it is and the overheads are quite expensive. The Villas Blancas property is much further out than we ideally wanted to be but it's much bigger, although with overheads like the swimming pool etc. and the upkeep and with the seemingly huge amount of villas available for rental its a risk as to how successful we would be at renting it out.

We have been told that both developments have had burglaries which concern us and there are squatters on one of the developments, we are also concerned that these properties will be easy to sell in 10-12 years time. My husband is now having reservations about buying there and thinks it would be more sensible to buy a property in the U.K. to rent out and come on holiday as and when to Lanzarote.

Please can anyone help with advice, having just returned from our abortive buying trip to this freezing cold weather I'm so disappointed to see the dream of having somewhere over there fading away but the risks are now starting to concern me as well.

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Old 16th April 2019, 05:55 AM
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We are emigrating to spain shortly and i took a lot of persuasion from my wife. I do think men are more cautious but her enthusiasm has energized me. However the property we like does have an expensive burglary system so this aspect worries me too to be frank! Can you afford a six month rental to really check out the area? Without committing to buying in UK? Cos the UK is going downhill and last summer's weather wont be repeated for a long time i bet!

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Old 16th April 2019, 08:09 AM
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All real estate agents have for at least 40 years been telling Wouldbe buyers that one can rent out properties when not being used by the owners and cover all running costs and make money. Whilst that can be the case it by far not always so

Check to ensure you will be allowed by community rules, local laws etc to do so, that you will be able to get the letting licence and also check the taxes and other fees, including IVA, you will have to pay

My son used to let an apartment with me as a resident in spain taking care of it. After many problems with people renting we gave up letting. Example. People leave and you discover a wet mattress, broken bed, broken sofa etc. How do you get that fixed in maybe a couple of hours on a Saturday or Sunday, ready for the new people, especially when you are not in the country.

For the past seven years my son has allowed a friend to live rent free, just paying the electricity, water etc as letting it was such a problem and not cost effective. My son is waiting for property prices to pick up so he can sell. He is fortunate. he has another property which he and his family use for holidays
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Old 16th April 2019, 08:52 AM
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Thank you for this

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Old 16th April 2019, 09:02 AM
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Quote:
Originally Posted by andyviola View Post
We are emigrating to spain shortly and i took a lot of persuasion from my wife. I do think men are more cautious but her enthusiasm has energized me. However the property we like does have an expensive burglary system so this aspect worries me too to be frank! Can you afford a six month rental to really check out the area? Without committing to buying in UK? Cos the UK is going downhill and last summer's weather wont be repeated for a long time i bet!
Thank you for this. Yes I know what you mean!! Unfortunately the six month rental is not an option as we both still work and are restricted to holiday allowances only. The weather being freezing cold here when we returned made it all the worse!! I just can't bear the thought when we retire of being stuck in the cold and wet when you see the quality of life you can have in a country when the weather is kinder even the wind is warm!

There do seem to be issues with security as there are quite a few burglar alarms but better to have them as a prevention I guess rather than not! At least the weather has perked up a bit today so really have to think things through. Good luck on your adventure!

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Old 16th April 2019, 11:15 AM
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Quote:
Originally Posted by Juan C View Post
All real estate agents have for at least 40 years been telling Wouldbe buyers that one can rent out properties when not being used by the owners and cover all running costs and make money. Whilst that can be the case it by far not always so

Check to ensure you will be allowed by community rules, local laws etc to do so, that you will be able to get the letting licence and also check the taxes and other fees, including IVA, you will have to pay

My son used to let an apartment with me as a resident in spain taking care of it. After many problems with people renting we gave up letting. Example. People leave and you discover a wet mattress, broken bed, broken sofa etc. How do you get that fixed in maybe a couple of hours on a Saturday or Sunday, ready for the new people, especially when you are not in the country.

For the past seven years my son has allowed a friend to live rent free, just paying the electricity, water etc as letting it was such a problem and not cost effective. My son is waiting for property prices to pick up so he can sell. He is fortunate. he has another property which he and his family use for holidays
I cannot agree with you more. We have property to let for holiday people but we do not do it any more. The rent is very poor and I prefer to keep it empty and just for ourselves. Especially if you want to live there some time, you have to clean out all your own stuffs and you cannot go when you want to go.

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Old 16th April 2019, 12:13 PM
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Years ago I was in a similar situation my chosen destination was Gran Canaria in a tourist resort, fortunately for me my son went to work and live there, he was able to advise me against purchasing in the same resort. I am now resident some 200 miles away on a different island, El Hierro, where the brash tourism has been discouraged and never arrived.

My advice would be RENT RENt RENT, for at least six months better a year to get a real view of life, living here is far different to a few months holiday.

I still visit and like Gran Canaria, but keep well away from the tourist resorts.
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