My parents have recently bought a house in the Valencia region (not the city but the region) and its brilliant. You just get so much more for your money if you know what to look for and especially if you are willing to maybe find a property that needs a bit of doing up. Writing this comment from my parents' new place, I really can see myself live in Spain and everything here attracts me. It is the only other place I've felt at home than my home country. This video will for sure help me out in the coming years once I gather the money to by my own place in the area. Congratulations on your new property and hope to see many new and awesome videos (I'm guessing a lot more cooking videos too 😁)!
I love where you chose to live. It's very lively and I love people and hearing laughter and talking. I love the feeling that people are in touch with enjoying life without being disrespectful for the peace and comforts of others.
Never fear, the housing market will recover. It may take a while, but Spain is a "Destination" for a reason. Investors will drive up the market waiting for the inevitable return to tourism (which will, of course, create it's own issues...). I know I can't wait to get back to Spain! Congratulations on the purchase of your home! I hope it gives you wonderful moments and memories. 🥂 ♥️
Hey! We discovered your channel a while back, as I am an American and my boyfriend is Spanish. We love your videos and I particularly find them comforting to know I am not alone in all my foreign-ness. Then we were watching this video and were like "what! That's our neighborhood they are showing photos of! Do they live in PN?" And a few seconds later of course you confirmed it. We were delighted. I hope we run into each other sometime around the neighborhood. We would love to have a caña sometime.
Great video. We are currently living in Spain and have spoken about buying. Its so good to see "real" people, giving "real advice" and honestly. Can't wait to see more.
Congratulations guys! I bought my flat in Santiago de Compostela as an American for 90,000 euros. My community fees (HOA) are around 26 per month. And there was another 8% in purchase taxes I had to pay.
Hey,I would like to know how you found an affordable place. Hannaoyomikim@gmail.com. i am young but looking to get something and I do not want to be duped...lol
James and Yoli, what a great idea helping those who are considering a move to Spain. My sister is in real estate in Florida, and I'm sending her a copy. Enjoyed learning about what it takes to purchase a home in such a beautiful country, and looking forward to part 2.
@@brysonsutton2069 why are you placing this information under my comment? Why would you hack into your girlfriends instaPortal, don't think that is very nice of you.
Hello I wish I had this when I started my search and purchase process in 2014. I made two house hunter trips from the US to Spain before finally finding my current place in 2014. I definitely agree with everything you shared. While I am still a non resident, I wanted to secure my place before retirement. I strongly recommend this as it helps you develop a better retirement budget. I recommend for retirement planning if you are fortunate enough to have your place fully paid off if possible. I’m patiently waiting for part 2. Again thanks so much. You are such a lovely couple.
Hopefully I can convince my husband and we can move out there in Spain one day. It sounds like a dream. Homes in the states are rising at an exponential rate, and since we also work from home and speak Spanish, living in Spain seems like the quality of life looks much brighter...thank you for this video and your excitement excites me!
Emlynn hi I’m interested in moving to Spain I’m 24 born in Miami Florida USA Europe has always fascinated me and Europeans have always been the most kindest beautiful people. The love in European countries is indescribable, what can you tell me how Spain is like?
@@evanalejandrorodriguez2654 Im from Spain and I can tell you there is no city in Spain that compares to miami, i spend my summers in FL! I have a place in Alicante spain and St pete Fl. also people are much nicer in Miami than Spain. that being said if you want to retire Spain might be a little better because life is a lot cheaper! but Europeans are like new yorkers or worse. I recommend spending a while in spain to test the waters befor you go full in! all the best
@Seijo you are one of the few that told me people in Spain and Europeans are not friendly than in the USA. Thank you for sharing your experience with me but I do disagree with you, my experience is yes Europeans and Spaniards are much friendlier. Thankyou for your honesty and sharing with me.
@maria Hi Maria, yes I’ve heard Norway and the Scandinavian countries are very friendly. I was thinking about living in Norway for some time as the culture mends well with my personality but, it seems spain is where I have been focused on moving to. Your very pretty by the way! Do you live spain still?
I am moving to Murcia(Santiago DeLa Ribera) in March. We already own two homes there but would like to buy something in a more rural area. Which mountain are did you buy your home? I would love to check the area out before buying.. Thank you.
Great video and congratulations on your new home. I would also add when looking for a piso in Madrid that buyers would want to keep in mind about wanting or not wanting central heating, north/south or east/west facing pisos, noise levels on busy streets with cafes/bars vs. side streets that are more residential, that it's not so common to find buyer's agents only representing you (you guys did which is great) but often when a buyer calls a listing, the agent doesn't explicitly state that they are representing the seller, so buyer beware and be careful of who the agent is representing and to understand this. If you want an elevator in the building as well. You can ask about the HOA budget to see if the building finances are in good order so you won't be hit with additional HOA (homeowner association) bills for a new building roof etc down the line. That there is enough savings in the HOA find for upcoming building expenses and that the building is up to date on codes etc.
queridos Yoly y James - this may be your best video EVER!!!! Especially for those of us who are fantasizing/researching possibly retiring in Spain. besos!
Also forgot to say congratulations on your new home. Not a bad price considering your in Madrid you would pay a hell of a lot more than that in some other capital city's take London for instance shocking prices! All the best for you both
Comunidad = the equivalent of "HOA Dues" (in the US) for common areas, such as maintenance on the landscaping, shared amenities (pools, tennis courts, etc)
Lol always fun to go back to 2020 and watch/listen about housing prices falling due to covid! Our banks were saying 30% decrease but prices increased 100-300%
I just bought in Cáceres in February too, Covid was a nightmare... We renovated and just moved in two weeks ago, paying rent and mortgage simultaneously for months was ideal... 🙄
@@spainrevealed No, very pretty but not super practical for day to day! We went for a 4 story chalet in an urbanización, for 160k because #extremadura 😅
Thanks for the video ! I work in Real Estate in Spain and there are some important points to consider: you can’t pay by cash, it’s illegal. You can’t pay in dollars, pounds... specially if your money comes from US dollars there will be a Special compliance procedure to make sure your money comes from clean sources. Hope this helps ! Also, this is a great time to buy second hand properties as prices are starting to go down.
Tavito Roa you need to transfer the money in euros from your bank account, once the Money Laundering procedure is approved. Other option is to have your own bank account in Spain, for that you need to have an address in Spain and maybe this isn’t your case.
For those of us that do not wish to buy what is the cost to rent if you have a fixed income of one! I understand that Spain is a large country so what would be the cost on the coast? Then maybe you can do a series for coastal areas, inland from the coast, mountain areas, etc. perhaps you have already done this and you only need to send a link. Or you prefer to send a link of an agent.😊
Congratulations on this video guys! So interesting and informative! Although I don't know why I am watching it, being 27 y.o. and having low hopes of the future as it's presenting here in Madrid 😂 But you gave some useful advice that I think I'll be able to apply when I (finally) can get on looking for a flat to rent. Also my particular tip for Madrid in particular is that you can also broaden the search for towns outside Madrid but well-linked to it. I live in the mountains, in a well connected town and in less than 1 hour I can be in Sol! Also hell yes for exterior flats, my maternal grandparents lived in Barrio de Salamanca, 1st floor and only had ONE window to the street! All the rest were to 2 different very narrow and dark patios, so be mindful of those kind of flats in old buildings. And congratulations again for your new house! I'll be looking forward to next video 😁
Excellent. I asked the question (as i'm sure many others did) and boy have you answered it. When the video began I thought "Ah, I need the 2nd part" but there was so much useful information here. Now I have to wait a whole week for the next one 😢 😂😂 Thank you guys.
Thank you so much for posting this!! We will be buying a property in Spain in the (near?) future and have so many questions - especially when you read about all the shenanigans that can go on. This is super helpful!
This is the best property buying tip I’ve watched about Spain. Can you tell us what type of resident can afford to buy what apartment sizes. For example, how much would you need to earn for a bank or the agent to consider you as s serious buyer given that you’re a resident?
A piso with a terraza makes a big difference. Having an outdoor space is great for summer, spring days to sit and chill or hang clothes. Personally I love the ones on the top floor with terrace that also have the advantage of having no neighbours upstairs that could be noisy.
Maybe I miss this part but when buying a house in Spain do you have a chance to have the house inspected by a professional in order to find out the condition of the non visible items such as pipes, electrical installation, etc. To get an idea what and when you will need to make renovations. Thanks in advance. We are looking to buy a house with a swimming pool in Dénia and hopefully retire there in 10 years 😊
This was really interesting. We’ve bought an apartment in Barcelona. We couldn’t finalise the purchase during lockdown so we stayed in a smaller apartment but it had a terrace and we loved it. Of course the place we purchased doesn’t have one 🤦♂️. We’re thinking of buying a second apartment later that has a terrace and we’ll rent out the current one. Lesson learned but I don’t think we would have noticed if we hadn’t had one for several months!
So happy for you and Yoli showing in part your new home. Look forward to the next cooking video too. In Canada usually the selling owner pays commissions to your agent as a seller. Now if another real estate agent provides the lead to the buyer of your home then the selling agent will split the commission and give half of the selling commission to the buying agent. About 5% to start with for selling agent but can be negotiated down sometimes.
Interesting and informative video. I've been browsing as I'm thinking of retiring to Spain from England in a few years and the thing about the Spanish property market as I see it on Idealista is how inconsistent prices are, maybe because there are so many pivate sellers. I also noticed there are still houses for sale that were built in 2008 at the time of the crash and haven't been lived in yet. Incidentally, some of the ads are hilariously bad, with pictures of the corners of dark rooms or a pile of rubbish or sometimes just a TV switched on.
Hi James. I can't thank you enough for that 18 pages PDF guide. It is super detailed and easy to follow. I bet you put a lot of time and effort on it, so thanks again. We are planning to buy in Spain by 2022, but need to start researching early. You guys are great! 🥰
Here, normally the bank and the people make the following calculation: It is assumed that 33% of your monthly salary is for household expenses, water, electricity, gas, telephone, food, etc. Another 33% is for leisure, clothing, traveling, saving, etc. and 33% is to pay the mortgage. The monthly mortgage letter you pay should not exceed 33% of your monthly salary.
Congrats folks. I got lucky and bought my cottage 5 years ago in the mountains 45 minutes drive from Valencia (my favorite city ).Feels like the middle of the country but only a short walk into a town of 3,000 people that has everything and life in winter.A lot of expats want land in the campo but don’t consider life when they can’t drive.After I viewed gave a lawyer power of attorney and completed in a month.Sitting looking over orange trees,olives and pine and just need another life to explore Spain.Enjoy.
Thanks for another great video. My wife has been looking at houses in Spain for years. We hope that one day it will happen. Good info here. Cant wait till next weeks vid.
Wow, timing is perfect- I spoke to my Dad living is Spain on Friday night and he said that he will sell his duplex in Malaga province for a rural house in Andalucia. He said I should do the same as prices here is Australia are simply unaffordable. Thanks for this video- it is super helpful.
Google is spying on us!! Now it's not only what u search by writings it's what you're saying on the phone too , every time i speak about something with my friends i find it in my suggestion list on youtube. And i spoke to my sister yesterday about buying a condo in spain and here we are first video on youtube was about that 😨🤔
@@humanbeing1047 Are you still using Google browser? Google is like queueing for the 1984 slaughterhouse.Get Brave Browser and use DuckDuckGo or Qwant.
En Madrid hay que mirar que la ITE sea positiva, si no el banco puede no darte la hipoteca, además de que si hay que hacer algún tipo de obra puede ser necesario un montón de dinero. No sé si hay otras ciudades que tengan un equivalente a la ITE .
Hi Yoli & James! My wife, daughter & son are subscribed to your channel & we've been watching your videos loyally as we are planning to move to Madrid next year. This video came at a PERFECT time! BTW, the COMMUNIDAD fees you talk about are called MAINTENANCE FEES in North America BUT you pay so much less than townhome, condominium & apartment owners do here. I know a couple that retired into an adult-oriented gated townhome complex & pay $600 monthly! I don't think you've done a video on how to obtain Health Insurance, as this is one of the requirements for a Non-Lucrative Visa for Spain. Would very much like one if you should decide to. Keep up the great work & we hope to meet you both one day in Madrid!
One thing to mention to Americans is that the "first floor" in Spain is what we refer to in the USA as the Second Floor. My apartment in Spain is on what is referred to as the Fourth Floor, but in the USA it would be the Fifth Floor. The "comunidad" monthly fees are referred to as HOA "Home Owners Association" fees.
I may have missed it, but I think you forgot to mention whether the property is facing north or south. In cold places, this feature could mean some considerable saving in heating or cooling, besides livelier interiors because of the sun that gets inside.
Thank you for the outstanding video! If you can, please include the cost of monthly utilities in the next one. Internet, Electricity, Water, Gas, and Trash removal just some ballpark figures maybe to get a sense. I think this is a fantastic series of videos you are making and I have been searching on Idealista around the Basque region for a year or so just to look at the price fluctuations. I think a rent vs buy video would be also a great idea in the future as via my searches and research I have found that getting a place via an Inmobiliaria also adds some hefty fees to the total cost but may be invaluable in some instances. I honestly believe the next few years will be a great time to buy in some tourist areas like Donostia-San Sebastian and maybe even Bilbao (in my case) but the disadvantages of being a non-resident can be truly offsetting. That being said, everything changes with time, and hopefully, things will get better for non-residents looking to buy. One big eye-opener is that even if you have an excellent relationship with say, Banco Bilbao Vizcaya Argentaria here in the USA (BBVA) it means next to nothing when it comes to doing business in Spain. Sorry for the wall of text but you both got me so hyped with this video! Once again thank you and keep them coming! :)
The pipes and electricity........ as i have learnt. In an older apartment block your pipes can be a major problem if they have not been renewed. Because of the design of the blocks renewing them may be very difficult and so expensive. Keep it in mind!
MY GOD!!That is expensive for an apartment but i guess it's Madrid(or nearby).I know that apartments around Alicante and nearby are cheaper and you have the beaches.I was ready to buy a place in Spain in 2018 but did it all wrong.I was hoping to get some help from my family but that was the worst thing i could've done.I went back to Australia(Sydney) through necessity and now i'm grounded here cause of covid-19.But i haven't given up.I will be eagerly awaiting your next vid on the how to purchase a piso in Spain.
I like your videos. It's interesting to watch them due to you obviously have a plot and know what to say without any "water" and you both are examples for other youtubers ❤
Castilia leon is cheapest too, and is closed to Madrid. We have a lot of monuments and castles with their histories. We loved foreign people and we'd like you try our dishes. We'll wait you, when this nighmare finish.
Very helpful & honest - good advice, I think, whether you'd be buying in Spain, US or Tasmania... You've been in a while, hope it really feels like home. Happy New Year! 🥂🦘🐾👍😎
@@Tavinho502 i love the outdoors so lots of mountain walks. Lèon is only 30 minutes away and lots to see there with beautiful food . Mind you if you travel anywhere in the country up here you will be delighted with the food at out of way restaurants.
Hi guys! Thx for the great channel and videos! Ive got two qns. 1. When you (or somebody else, or banks website) says that you can get financing "up to 80%", whay do you mean? Up to 80% of the property price or property price + purchase expenses (~10% more, incl. taxes). My logic says it should be % of the property price, but IDEALISTA calculator looks like beeing build with the logic "% property price + purchase expenses". Also what about "pledge"? Is the acquired property used as a pledge ("not mine property")? Can any other assets be used as a pledge or proof of credibility/funds? For ex stocks, other properties? 2. When should you pay ITP? Are there any deadlines?
One diference I notice is that you paid fir the agent, here in the US the seller pays that part, great information on this video, I fell in love with northern Spain and hopefully we can make our move in the future, we speak the language so that would be a plus when buying property, thanks for all the info!!
Hello! Did you follow the changes in the regulation recently? If I understand correctly the new law aims to support the small property owners and long term renters against the tourist property owners and AirBNBs. If someone wants to buy property in the future what should they expect?
THIS IS AWESOME!!! I'm super excited about this series of videos. It's my dream to live in Spain. I want to run an albergue there for pilgrims somewhere along the Camino Frances. :) Thanks for doing these!
I was surprised and really enjoyed the video. Estate agents don't want to say prices will go down but we all know the 10 tonne truck coming at us all with Covid and the aftermath. Prices will go down. One question I have is what should you negotiate in terms of reduction typically. I see anything from 3/5% to as much as 15/18% off depending on location and situation.
Wow! so informative. I have been curious about buying a place in Spain but trying to figure how to get started is so daunting. The tips, links and explanations are so helpful. I’m really interested to see what kind of renovations were done for $25k. Muchas gracias!
Thanks James and Yoli! very informative. Looking to buy a place in Malaga, Marbella or Almeria, so excited! Just found your channel recently and have been going through your videos, love them!
Thanks guys I’ve watched a lot of these videos and this is the best hands down. Very informative and easy to understand, really appreciate it. Look forward to part 2.
Wow! I’ve never heard you speak so quickly, James! :) Yoly spoke beautifully, as usual. :) Fascinating video. Madrid prices are much, much lower than Vancouver area’s....of course! We have some of the highest priced real estate in the world and in Canada. From what I’ve seen of your ap’t, it’s beautiful and spacious. Can’t wait to see the next video. Good luck on all your endeavours.
And for me, who live in the north of Spain, the prices in Madrid seem high. xD. A house like that in a city without a beach in the north costs about € 70,000.
Congratulations on your new home. Wish you the best. We were looking to rent a studio or 1 bedroom in Sevilla or Granada to live in Spain for a year or two. But the pandemic has put a hold on everything. Hopefully we can do this next year if things get better.
After doing my DNA and finding out my roots are in Spain and Portugal, I traveled to both in April of 2019. I fell in love with Sevilla and Arcos de la Frontera. It's now my dream to retire to Sevilla, or at least move there as quickly as possible. What is the best way to inquire about the bathroom "plumbing" without being insulting? BTW, you posted this video on my birthday, so I considered it a sign that I stumbled across your video. First time viewer.
I watched the video. So Notary is different from Lawyer?? What about the Home inspection? Did you do home Inspection at all to check the structural, electrical panel, Mold hazards, AC and heating systems? Or it’s not done in Spain
This is great and just what I needed! Thank you Yoly and James :) I'm hoping to buy a house in the Cantabrian countryside once this COVID craziness is over, but the thought of doing it alone and as a foreigner, was so intimidating that it kind of scared me away... but this video was more useful than you will know! :) Can't wait to see the next video. Serious question, once I'm in Spain, where does one procure a tiger, does it come free with the hot tub? :)
Pero la pregunta es... cuando nos dan el tour del apartamento!? Great video as always! (I’m falling in love with Spain and you’re certainly helping with that!)
Are most apartments occupier owned, or are they rented? In the US, occupier owned “apartments” are usually called condominiums, and what we call apartments are almost always rented from the owner of the entire building or complex.
Hola, best video on the subject by far!!! Thanks a lot lot for sharing a lot of personal information like how much you paid for your place. I am considering buying a property in Spain and you video was helpful beyond words. Gracias
Thanks for this VERY helpful video and telling us how much you paid. I confess, for that terraced apt. in Madrid, I was expecting it to be higher. Great stuff!
Thank you both so much for your informative and honest sharing experience, it's very helpful and you really changed my plan from buying house in my home country to really considering buying a second home in Spain instead, what a great dream I wish to come true starting from your part 1 video, am looking forward to watch 2nd part to finalise my future plan 😀 You are a great couple as always, wish you both all the best in your new house 👏👌😃
Very interesting video. Really enjoyed it. When I saw the price I though holy smoke...for an apartment... but having said that, I guess it is still classed as the City (Madrid). The apartments near the city centre (Manchester, UK) (max 2km away) are anything from €1,646,479.04 to €287,000 with the average of around €450,000 so that's a bargain! Looking forward to Part II
spankysmagicpiano Remember the differences of income between Spain and the Uk. also, pueblo nuevo is a working class hood not fit to everybody (no gardens, few places to park and always pack with people
@@honestguy7764 Yes, you're probably right. I had a quick look on Google Maps at the area and I am sure that my cousin lived there for several years before returning to the UK. I went over for a week and liked the area.
I can't find the link to the pdf file. Loved the video. We're going to the Valencia region to decide which area we would like to buy an apartment in. Gracias
Thank you for being informative and sharing your experience. I find it super valuable! Hopefully in the future i could practically use the guide which you have prepared. Thank you very much!
I love she’s smiling throughout the entire video in all videos. I like that.
I’m buying no house in Madrid but I’m watching this because I watch all your videos 😆
Thank you for watching!
Same! I’ll never live in Spain but I’m watching anyway because who doesn’t love Yoly and James! 🙂
😁👍🏾
You guys are really informative, and as I am hoping to move to Spain in a few years this has certainly fired my optimism. Thank you.
Thank you - I'm glad!!
I"ve decided I want to move to Spain and I"m so glad I found your channel! This is all so helpful!
My parents have recently bought a house in the Valencia region (not the city but the region) and its brilliant. You just get so much more for your money if you know what to look for and especially if you are willing to maybe find a property that needs a bit of doing up. Writing this comment from my parents' new place, I really can see myself live in Spain and everything here attracts me. It is the only other place I've felt at home than my home country. This video will for sure help me out in the coming years once I gather the money to by my own place in the area. Congratulations on your new property and hope to see many new and awesome videos (I'm guessing a lot more cooking videos too 😁)!
Glad it was helpful. And yes, more cooking videos coming :)
I love where you chose to live. It's very lively and I love people and hearing laughter and talking. I love the feeling that people are in touch with enjoying life without being disrespectful for the peace and comforts of others.
Never fear, the housing market will recover. It may take a while, but Spain is a "Destination" for a reason. Investors will drive up the market waiting for the inevitable return to tourism (which will, of course, create it's own issues...). I know I can't wait to get back to Spain! Congratulations on the purchase of your home! I hope it gives you wonderful moments and memories. 🥂 ♥️
thank you Andrea :)
Hey! We discovered your channel a while back, as I am an American and my boyfriend is Spanish. We love your videos and I particularly find them comforting to know I am not alone in all my foreign-ness. Then we were watching this video and were like "what! That's our neighborhood they are showing photos of! Do they live in PN?" And a few seconds later of course you confirmed it. We were delighted. I hope we run into each other sometime around the neighborhood. We would love to have a caña sometime.
Great video. We are currently living in Spain and have spoken about buying. Its so good to see "real" people, giving "real advice" and honestly. Can't wait to see more.
Congratulations guys! I bought my flat in Santiago de Compostela as an American for 90,000 euros. My community fees (HOA) are around 26 per month. And there was another 8% in purchase taxes I had to pay.
Mohammad Ashori So only corridors and ladders cleaning, isnt it?
Hey,I would like to know how you found an affordable place. Hannaoyomikim@gmail.com. i am young but looking to get something and I do not want to be duped...lol
James and Yoli, what a great idea helping those who are considering a move to Spain. My sister is in real estate in Florida, and I'm sending her a copy. Enjoyed learning about what it takes to purchase a home in such a beautiful country, and looking forward to part 2.
@@brysonsutton2069 why are you placing this information under my comment? Why would you hack into your girlfriends instaPortal, don't think that is very nice of you.
Hello I wish I had this when I started my search and purchase process in 2014. I made two house hunter trips from the US to Spain before finally finding my current place in 2014. I definitely agree with everything you shared. While I am still a non resident, I wanted to secure my place before retirement. I strongly recommend this as it helps you develop a better retirement budget. I recommend for retirement planning if you are fortunate enough to have your place fully paid off if possible. I’m patiently waiting for part 2. Again thanks so much. You are such a lovely couple.
I'm glad it was helpful Heath
Hopefully I can convince my husband and we can move out there in Spain one day. It sounds like a dream. Homes in the states are rising at an exponential rate, and since we also work from home and speak Spanish, living in Spain seems like the quality of life looks much brighter...thank you for this video and your excitement excites me!
We bought our “casa rural” here up a mountain in Murcia nearly 18 years ago.....never regretted it❗️👍🍷
Emlynn hi I’m interested in moving to Spain I’m 24 born in Miami Florida USA Europe has always fascinated me and Europeans have always been the most kindest beautiful people. The love in European countries is indescribable, what can you tell me how Spain is like?
@@evanalejandrorodriguez2654 Im from Spain and I can tell you there is no city in Spain that compares to miami, i spend my summers in FL! I have a place in Alicante spain and St pete Fl. also people are much nicer in Miami than Spain. that being said if you want to retire Spain might be a little better because life is a lot cheaper! but Europeans are like new yorkers or worse. I recommend spending a while in spain to test the waters befor you go full in!
all the best
@Seijo you are one of the few that told me people in Spain and Europeans are not friendly than in the USA. Thank you for sharing your experience with me but I do disagree with you, my experience is yes Europeans and Spaniards are much friendlier. Thankyou for your honesty and sharing with me.
@maria Hi Maria, yes I’ve heard Norway and the Scandinavian countries are very friendly. I was thinking about living in Norway for some time as the culture mends well with my personality but, it seems spain is where I have been focused on moving to. Your very pretty by the way! Do you live spain still?
I am moving to Murcia(Santiago DeLa Ribera) in March.
We already own two homes there but would like to buy something in a more rural area. Which mountain are did you buy your home? I would love to check the area out before buying..
Thank you.
Great video and congratulations on your new home. I would also add when looking for a piso in Madrid that buyers would want to keep in mind about wanting or not wanting central heating, north/south or east/west facing pisos, noise levels on busy streets with cafes/bars vs. side streets that are more residential, that it's not so common to find buyer's agents only representing you (you guys did which is great) but often when a buyer calls a listing, the agent doesn't explicitly state that they are representing the seller, so buyer beware and be careful of who the agent is representing and to understand this. If you want an elevator in the building as well. You can ask about the HOA budget to see if the building finances are in good order so you won't be hit with additional HOA (homeowner association) bills for a new building roof etc down the line. That there is enough savings in the HOA find for upcoming building expenses and that the building is up to date on codes etc.
queridos Yoly y James - this may be your best video EVER!!!! Especially for those of us who are fantasizing/researching possibly retiring in Spain. besos!
So glad it was helpful. Enjoy next week as well!
So helpful!
Also forgot to say congratulations on your new home. Not a bad price considering your in Madrid you would pay a hell of a lot more than that in some other capital city's take London for instance shocking prices! All the best for you both
Comunidad = the equivalent of "HOA Dues" (in the US) for common areas, such as maintenance on the landscaping, shared amenities (pools, tennis courts, etc)
hola mira esto importante shrinkme.io/H5rzkMV
Yep. HOA = Home Owners Association.
@@sasikumar0711 Vete a la mierda
Lol always fun to go back to 2020 and watch/listen about housing prices falling due to covid! Our banks were saying 30% decrease but prices increased 100-300%
I just bought in Cáceres in February too, Covid was a nightmare... We renovated and just moved in two weeks ago, paying rent and mortgage simultaneously for months was ideal... 🙄
Exactly like us! Nightmare, right? In historic Caceres?
@@spainrevealed No, very pretty but not super practical for day to day! We went for a 4 story chalet in an urbanización, for 160k because #extremadura 😅
Congratulations to you both .May you have many years of happiness in your new home.
Thanks for the video ! I work in Real Estate in Spain and there are some important points to consider: you can’t pay by cash, it’s illegal. You can’t pay in dollars, pounds... specially if your money comes from US dollars there will be a Special compliance procedure to make sure your money comes from clean sources. Hope this helps ! Also, this is a great time to buy second hand properties as prices are starting to go down.
So how does it works if I'm coming from USA with dollars to buy a property in Spain.? (tambien hablo español)
Tavito Roa you need to transfer the money in euros from your bank account, once the Money Laundering procedure is approved. Other option is to have your own bank account in Spain, for that you need to have an address in Spain and maybe this isn’t your case.
@@ChristinaDior90 I do not live in Spain, so don't have an address there, and by researching seems it's very complicated to rent there
@@ChristinaDior90 Also I guess would be complicated the process to make your living there legal
For those of us that do not wish to buy what is the cost to rent if you have a fixed income of one! I understand that Spain is a large country so what would be the cost on the coast? Then maybe you can do a series for coastal areas, inland from the coast, mountain areas, etc. perhaps you have already done this and you only need to send a link. Or you prefer to send a link of an agent.😊
Congratulations on this video guys! So interesting and informative! Although I don't know why I am watching it, being 27 y.o. and having low hopes of the future as it's presenting here in Madrid 😂 But you gave some useful advice that I think I'll be able to apply when I (finally) can get on looking for a flat to rent. Also my particular tip for Madrid in particular is that you can also broaden the search for towns outside Madrid but well-linked to it. I live in the mountains, in a well connected town and in less than 1 hour I can be in Sol! Also hell yes for exterior flats, my maternal grandparents lived in Barrio de Salamanca, 1st floor and only had ONE window to the street! All the rest were to 2 different very narrow and dark patios, so be mindful of those kind of flats in old buildings. And congratulations again for your new house! I'll be looking forward to next video 😁
Yeah, it's true -- just because it says 1st floor/exterior doesn't mean anything!
Excellent. I asked the question (as i'm sure many others did) and boy have you answered it. When the video began I thought "Ah, I need the 2nd part" but there was so much useful information here. Now I have to wait a whole week for the next one 😢 😂😂 Thank you guys.
Glad you're satisfied now mate hehe
In the US, the Communidad = HOA or Home Owners Association Dues. This is the common area fees you pay monthly.
Yes and it's quite expensive here in Florida
You guys are so adorable!!!! Love all your information!
Thank you so much for posting this!! We will be buying a property in Spain in the (near?) future and have so many questions - especially when you read about all the shenanigans that can go on. This is super helpful!
I'm glad it helped! Also, thank you for sharing the video in the American's FB group. Yoly mentioned it to me :)
This is the best property buying tip I’ve watched about Spain. Can you tell us what type of resident can afford to buy what apartment sizes. For example, how much would you need to earn for a bank or the agent to consider you as s serious buyer given that you’re a resident?
A piso with a terraza makes a big difference. Having an outdoor space is great for summer, spring days to sit and chill or hang clothes. Personally I love the ones on the top floor with terrace that also have the advantage of having no neighbours upstairs that could be noisy.
Good point JB!
Maybe I miss this part but when buying a house in Spain do you have a chance to have the house inspected by a professional in order to find out the condition of the non visible items such as pipes, electrical installation, etc. To get an idea what and when you will need to make renovations. Thanks in advance. We are looking to buy a house with a swimming pool in Dénia and hopefully retire there in 10 years 😊
This was really interesting. We’ve bought an apartment in Barcelona. We couldn’t finalise the purchase during lockdown so we stayed in a smaller apartment but it had a terrace and we loved it. Of course the place we purchased doesn’t have one 🤦♂️. We’re thinking of buying a second apartment later that has a terrace and we’ll rent out the current one. Lesson learned but I don’t think we would have noticed if we hadn’t had one for several months!
So happy for you and Yoli showing in part your new home. Look forward to the next cooking video too. In Canada usually the selling owner pays commissions to your agent as a seller. Now if another real estate agent provides the lead to the buyer of your home then the selling agent will split the commission and give half of the selling commission to the buying agent. About 5% to start with for selling agent but can be negotiated down sometimes.
Interesting!
Interesting and informative video. I've been browsing as I'm thinking of retiring to Spain from England in a few years and the thing about the Spanish property market as I see it on Idealista is how inconsistent prices are, maybe because there are so many pivate sellers. I also noticed there are still houses for sale that were built in 2008 at the time of the crash and haven't been lived in yet. Incidentally, some of the ads are hilariously bad, with pictures of the corners of dark rooms or a pile of rubbish or sometimes just a TV switched on.
Yeah, I know what you mean about the ads. Some are terrible!!!
Hi James. I can't thank you enough for that 18 pages PDF guide. It is super detailed and easy to follow. I bet you put a lot of time and effort on it, so thanks again. We are planning to buy in Spain by 2022, but need to start researching early. You guys are great! 🥰
Here, normally the bank and the people make the following calculation: It is assumed that 33% of your monthly salary is for household expenses, water, electricity, gas, telephone, food, etc. Another 33% is for leisure, clothing, traveling, saving, etc. and 33% is to pay the mortgage. The monthly mortgage letter you pay should not exceed 33% of your monthly salary.
Congrats folks. I got lucky and bought my cottage 5 years ago in the mountains 45 minutes drive from Valencia (my favorite city ).Feels like the middle of the country but only a short walk into a town of 3,000 people that has everything and life in winter.A lot of expats want land in the campo but don’t consider life when they can’t drive.After I viewed gave a lawyer power of attorney and completed in a month.Sitting looking over orange trees,olives and pine and just need another life to explore Spain.Enjoy.
Wow, that sounds lovely. I had a lovely house in a Valencian town, and i stupidly sold it because of a family situation, l regret it every day!
Thanks for another great video.
My wife has been looking at houses in Spain for years. We hope that one day it will happen. Good info here. Cant wait till next weeks vid.
Glad you like it!
Wow, timing is perfect- I spoke to my Dad living is Spain on Friday night and he said that he will sell his duplex in Malaga province for a rural house in Andalucia. He said I should do the same as prices here is Australia are simply unaffordable.
Thanks for this video- it is super helpful.
Google is spying on us!! Now it's not only what u search by writings it's what you're saying on the phone too , every time i speak about something with my friends i find it in my suggestion list on youtube. And i spoke to my sister yesterday about buying a condo in spain and here we are first video on youtube was about that 😨🤔
@@humanbeing1047 Are you still using Google browser? Google is like queueing for the 1984 slaughterhouse.Get Brave Browser and use DuckDuckGo or Qwant.
En Madrid hay que mirar que la ITE sea positiva, si no el banco puede no darte la hipoteca, además de que si hay que hacer algún tipo de obra puede ser necesario un montón de dinero. No sé si hay otras ciudades que tengan un equivalente a la ITE .
Please make a video about the renovation process. Thanks
We certainly will!
Hi Yoli & James! My wife, daughter & son are subscribed to your channel & we've been watching your videos loyally as we are planning to move to Madrid next year. This video came at a PERFECT time! BTW, the COMMUNIDAD fees you talk about are called MAINTENANCE FEES in North America BUT you pay so much less than townhome, condominium & apartment owners do here. I know a couple that retired into an adult-oriented gated townhome complex & pay $600 monthly! I don't think you've done a video on how to obtain Health Insurance, as this is one of the requirements for a Non-Lucrative Visa for Spain. Would very much like one if you should decide to. Keep up the great work & we hope to meet you both one day in Madrid!
One thing to mention to Americans is that the "first floor" in Spain is what we refer to in the USA as the Second Floor. My apartment in Spain is on what is referred to as the Fourth Floor, but in the USA it would be the Fifth Floor. The "comunidad" monthly fees are referred to as HOA "Home Owners Association" fees.
I may have missed it, but I think you forgot to mention whether the property is facing north or south. In cold places, this feature could mean some considerable saving in heating or cooling, besides livelier interiors because of the sun that gets inside.
Thank you for the outstanding video! If you can, please include the cost of monthly utilities in the next one. Internet, Electricity, Water, Gas, and Trash removal just some ballpark figures maybe to get a sense. I think this is a fantastic series of videos you are making and I have been searching on Idealista around the Basque region for a year or so just to look at the price fluctuations. I think a rent vs buy video would be also a great idea in the future as via my searches and research I have found that getting a place via an Inmobiliaria also adds some hefty fees to the total cost but may be invaluable in some instances. I honestly believe the next few years will be a great time to buy in some tourist areas like Donostia-San Sebastian and maybe even Bilbao (in my case) but the disadvantages of being a non-resident can be truly offsetting. That being said, everything changes with time, and hopefully, things will get better for non-residents looking to buy. One big eye-opener is that even if you have an excellent relationship with say, Banco Bilbao Vizcaya Argentaria here in the USA (BBVA) it means next to nothing when it comes to doing business in Spain. Sorry for the wall of text but you both got me so hyped with this video! Once again thank you and keep them coming! :)
Great points!
Are there any benefits/advantages at all of having a BBVA US account if one travels to Spain with some frequency?
The pipes and electricity........ as i have learnt. In an older apartment block your pipes can be a major problem if they have not been renewed. Because of the design of the blocks renewing them may be very difficult and so expensive. Keep it in mind!
.. New place.. Working from home.. Young owners... Spain = Dream Living
MY GOD!!That is expensive for an apartment but i guess it's Madrid(or nearby).I know that apartments around Alicante and nearby are cheaper and you have the beaches.I was ready to buy a place in Spain in 2018 but did it all wrong.I was hoping to get some help from my family but that was the worst thing i could've done.I went back to Australia(Sydney) through necessity and now i'm grounded here cause of covid-19.But i haven't given up.I will be eagerly awaiting your next vid on the how to purchase a piso in Spain.
So informative thanks guys! And also ¡felicidades! on your new home it looks beautiful! 😊
I like your videos. It's interesting to watch them due to you obviously have a plot and know what to say without any "water" and you both are examples for other youtubers ❤
Castilia leon is cheapest too, and is closed to Madrid. We have a lot of monuments and castles with their histories. We loved foreign people and we'd like you try our dishes. We'll wait you, when this nighmare finish.
Very helpful & honest - good advice, I think, whether you'd be buying in Spain, US or Tasmania... You've been in a while, hope it really feels like home. Happy New Year! 🥂🦘🐾👍😎
This Kiwi has owned an apartment north of Lèon for three years and absolutely love Spain.
Opps my apartment is three bedroom so might have to change its description 🥴
@@jimmurihiku8009 Anything fun to do there.? night life and also day time activities.?
@@Tavinho502 i love the outdoors so lots of mountain walks.
Lèon is only 30 minutes away and lots to see there with beautiful food .
Mind you if you travel anywhere in the country up here you will be delighted with the food at out of way restaurants.
@@jimmurihiku8009 How is the north compared to the south (I know north is green and south drier) besides that, beaches etc.?
@@Tavinho502 beachs and rivers are great,and restrictions aren't as stringent as they are in the south.
Hi guys! Thx for the great channel and videos!
Ive got two qns. 1. When you (or somebody else, or banks website) says that you can get financing "up to 80%", whay do you mean? Up to 80% of the property price or property price + purchase expenses (~10% more, incl. taxes). My logic says it should be % of the property price, but IDEALISTA calculator looks like beeing build with the logic "% property price + purchase expenses".
Also what about "pledge"? Is the acquired property used as a pledge ("not mine property")? Can any other assets be used as a pledge or proof of credibility/funds? For ex stocks, other properties?
2. When should you pay ITP? Are there any deadlines?
One diference I notice is that you paid fir the agent, here in the US the seller pays that part, great information on this video, I fell in love with northern Spain and hopefully we can make our move in the future, we speak the language so that would be a plus when buying property, thanks for all the info!!
Hello!
Did you follow the changes in the regulation recently? If I understand correctly the new law aims to support the small property owners and long term renters against the tourist property owners and AirBNBs. If someone wants to buy property in the future what should they expect?
I bought a 5 bedroom flat 3 years ago in Spain and tomorrow I'm buying an apartment also.
THIS IS AWESOME!!! I'm super excited about this series of videos. It's my dream to live in Spain. I want to run an albergue there for pilgrims somewhere along the Camino Frances. :) Thanks for doing these!
That sounds awesome Susan!
I was surprised and really enjoyed the video. Estate agents don't want to say prices will go down but we all know the 10 tonne truck coming at us all with Covid and the aftermath. Prices will go down. One question I have is what should you negotiate in terms of reduction typically. I see anything from 3/5% to as much as 15/18% off depending on location and situation.
Wow! so informative. I have been curious about buying a place in Spain but trying to figure how to get started is so daunting. The tips, links and explanations are so helpful. I’m really interested to see what kind of renovations were done for $25k. Muchas gracias!
Thanks James and Yoli! very informative. Looking to buy a place in Malaga, Marbella or Almeria, so excited! Just found your channel recently and have been going through your videos, love them!
Excellent video! Great insight into home buying. Thank you!
Thanks Glenn!
Felicidades Amigos! Best wishes for great memories in your new home!
Great video, keep up the good work! Looking forward the second episode!
Pueblo Nuevo was where I stayed for a night when I first went to Spain!!! Love that neighborhood. Thoroughly enjoyed this video. Thanks for posting!
I'd definitely want a tiger in my to-be Spanish home :)
A gun would be more useful...for when the Reds come to steal it from you😁😁
I want a tigress
I want a tigress
😍😍😍 big congratulations guys! Wishing you lots of happiness in your new home 🏡❤️
Thanks Esther :)
Thanks guys I’ve watched a lot of these videos and this is the best hands down. Very informative and easy to understand, really appreciate it. Look forward to part 2.
I'm pleased it's been helpful :)
Wow! I’ve never heard you speak so quickly, James! :) Yoly spoke beautifully, as usual. :) Fascinating video. Madrid prices are much, much lower than Vancouver area’s....of course! We have some of the highest priced real estate in the world and in Canada. From what I’ve seen of your ap’t, it’s beautiful and spacious. Can’t wait to see the next video. Good luck on all your endeavours.
And for me, who live in the north of Spain, the prices in Madrid seem high. xD. A house like that in a city without a beach in the north costs about € 70,000.
Very interesting video 👍👍! As a current UA-camr, I am always looking for fresh ideas! Excellent Job!
Congratulations on your new home. Wish you the best. We were looking to rent a studio or 1 bedroom in Sevilla or Granada to live in Spain for a year or two. But the pandemic has put a hold on everything. Hopefully we can do this next year if things get better.
There will be a post-pandemic :) Hopefully sooner tahn later.
Very helpful for our (hopeful) move in the next few years, thank you for your content as always!
After doing my DNA and finding out my roots are in Spain and Portugal, I traveled to both in April of 2019. I fell in love with Sevilla and Arcos de la Frontera. It's now my dream to retire to Sevilla, or at least move there as quickly as possible. What is the best way to inquire about the bathroom "plumbing" without being insulting? BTW, you posted this video on my birthday, so I considered it a sign that I stumbled across your video. First time viewer.
I watched the video. So Notary is different from Lawyer??
What about the Home inspection? Did you do home Inspection at all to check the structural, electrical panel, Mold hazards, AC and heating systems? Or it’s not done in Spain
This is great and just what I needed! Thank you Yoly and James :) I'm hoping to buy a house in the Cantabrian countryside once this COVID craziness is over, but the thought of doing it alone and as a foreigner, was so intimidating that it kind of scared me away... but this video was more useful than you will know! :) Can't wait to see the next video. Serious question, once I'm in Spain, where does one procure a tiger, does it come free with the hot tub? :)
I hope you make a video of international schools and their locations, fees ...
We need your advice for families moving with kids
This video helped a lot I am currently looking into buying an apartment in Madrid. Thank you love you guys energy 💕
Pero la pregunta es... cuando nos dan el tour del apartamento!? Great video as always! (I’m falling in love with Spain and you’re certainly helping with that!)
What a wonderful video!!! I am in the processing of starting this adventure in my life. Wish me luck!!! Looking forward to more videos
Un video muy interesante. Felicidades por la compra del piso!
17:36 Homeowners Asosication fees, HOA. Also in spanish, in my urbanización, it is called mantenimiento. Greetings from Puerto Rico 🍷🥂
Corillo! 🇵🇷
Are most apartments occupier owned, or are they rented? In the US, occupier owned “apartments” are usually called condominiums, and what we call apartments are almost always rented from the owner of the entire building or complex.
Great video guys - such a great topic to get into! Looking forward to watching video number two now :)
Glad you liked it!
Muchas gracias guys next year buying my first property in Valencia.
Hola,
best video on the subject by far!!! Thanks a lot lot for sharing a lot of personal information like how much you paid for your place.
I am considering buying a property in Spain and you video was helpful beyond words. Gracias
Thanks for this VERY helpful video and telling us how much you paid. I confess, for that terraced apt. in Madrid, I was expecting it to be higher. Great stuff!
Thank you both so much for your informative and honest sharing experience, it's very helpful and you really changed my plan from buying house in my home country to really considering buying a second home in Spain instead, what a great dream I wish to come true starting from your part 1 video, am looking forward to watch 2nd part to finalise my future plan 😀
You are a great couple as always, wish you both all the best in your new house 👏👌😃
Hello from Prague, love your videos, this one was very helpfull :)
Excellent information hopefully in the next 5 years we will be purchasing a home in Spain thank you!
Love tuning into your vlogs and I was super excited as this is our hot topic at the moment 👏👏👏 waiting anxiously for part 2 ❤️🇪🇸❤️ x
I do very much want to live in Spain. But the pandemic seems to be such a barrier.
Hi Yoli & James, communida in Emglsih we call it the HOA (Home Owner Association) Fees. Thank you so much for making this video!
Very good and informative video on buying a house in Spain.
Very interesting video. Really enjoyed it. When I saw the price I though holy smoke...for an apartment... but having said that, I guess it is still classed as the City (Madrid). The apartments near the city centre (Manchester, UK) (max 2km away) are anything from €1,646,479.04 to €287,000 with the average of around €450,000 so that's a bargain!
Looking forward to Part II
spankysmagicpiano Remember the differences of income between Spain and the Uk. also, pueblo nuevo is a working class hood not fit to everybody (no gardens, few places to park and always pack with people
@@honestguy7764 Yes, you're probably right. I had a quick look on Google Maps at the area and I am sure that my cousin lived there for several years before returning to the UK. I went over for a week and liked the area.
I'm not a forgetful as I thought I was. It was Pueblo Nuevo he lived. Thought I recognised it from my trip there. At least he confirmed it.
I just want to live in Barcelona. It's my favorite place on earth.
Good info for new buyers although it can be different in other parts of Spain.
Good luck in your new home!
I can't find the link to the pdf file. Loved the video. We're going to the Valencia region to decide which area we would like to buy an apartment in. Gracias
Thank you for being informative and sharing your experience. I find it super valuable! Hopefully in the future i could practically use the guide which you have prepared. Thank you very much!
That was brilliant.....thank you! While we are largely looking to rent in Spain this video certainly provided a wealth of information 👍