As a company we have been around for over 20 years now. We have seen trends come and go, a financial crisis or two, people move to Valencia and move out, Valencia become the favourite destination for the international crowd and even a little known pandemic called Covid19. Valencia Property started in the very early 2000s and when we set up the company with a snazzy looking website, everybody who came to look at property in Valencia wanted a villa with its own pool, garden, garage etc... We couldn't have given away apartments in Valencia to tell the truth because that wasn't what people wanted at the time.
We have been asked many times about the process of getting a mortgage in Spain. Whether that is in regard to Valencia or any other parts of Spain it's essentially a standard process. However, it may not be like the process of applying for and getting a mortgage in other countries so today we are looking at the process of getting a Spanish mortgage from start to finish.
One of the things that surprises people on coming to Valencia is the variety of shops, cafes, restaurants and the rest. Only yesterday a client commented that it was so refreshing to not come upon a Starbucks on every corner. I had to admit there are four or five but told her that one had closed down because nobody ever went there. Years ago I remember a friend's daughter being so excited that a Starbucks was going to open in Valencia because... well she couldn't explain why exactly... it was just it was something different. She wasn't even a coffee drinker.
If you believe everything you read on Facebook and other social media I'd say you had recently had a lobotomy or at least you would be on your way to one, but there does seem to be an expectation on social media totally divorced from reality. Newbies to the Valencia Property world seem to think that they will get 20, 30 and even 40% off the asking prices of Valencia Property just because they make an offer. Allow me to disabuse them of that notion with a simple question, "Is that happening where you are from?" Because if it isn't why on Earth would it be happening here?
After receiving a few enquiries about whether it's better to rent or buy a property in Valencia I thought it time to put together a post comparing the two options in terms of costs and what your "get out position" is at the end. Obviously there are other considerations apart from monetary costs but we will focus here on the costs and then look at those other considerations at the end. We are going to go with a similar property in both cases and look at five, ten and twenty year horizons. For the numbers we are going to use an example from last week where the client took on a mortgage at a fixed rate over 20 years.
Described by many as Valencia's bohemian heart, by others as Valencia's Soho and by East Coast Americans as Valencia's Greenwich village, Ruzafa has long been on our radar as a great place to live due to its proximity to the centre of Valencia, the vibe of the area and the classical facades amongst other reasons. However there are others who describe it as overhyped, too noisy and a bit grotty. Of course the truth lies somewhere in between but on a scale you would get closer to the former descriptions rather than the latter. Today we are going to explore some of those reasons.