Many years ago, back in the dim and distant past of 2017, in the before days, I wrote an article on this blog about the fact that we are not “lucky” to be living in Valencia or Spain but we have planned it and it’s all part of Lifestyle Design, you can read it here. Today I want to expand a little on that blog post and emphasise what a good decision coming to Valencia was and still coming to Valencia can be for you. Let’s call today the year 2AC (After Covid) And yes I know Covid is still around and causing major misery to people all around the World so maybe better to call it 2SC (Since Covid) In 2SC the consequences of the Pandemic and mad decisions made in 2016 are coming home to roost around the World but today we are going to compare Valencia with two places that made especially mad decisions in 2016, the UK and the USA.
We take a lot of people out to see Valencia Property and when we do we field a host of questions from the most obvious “Where are we now?” to the left field questions such as “Why has that cat not got a collar?” Now we can always answer the first but the cat question… When you are looking at property with us you will also have questions and some of them will be left field but they are all usually valid questions when you don’t know a place too well. However, if you have that question then it’s almost certain that somebody else has asked us the question beforehand and also the answer will interest other people. Therefore today we are looking at the most common questions people ask. We will put the answers in here too so that when you visit you don’t have to ask these questions and we can concentrate more on more granular issues such as speculating on the cat’s collar.
I got riled by Facebook this week. I know, I know, I should just avoid it like an increasing number of people are doing but I couldn’t let it lie this time.
Apparently, according to people in Facebook groups at least, you cannot go to see properties in Valencia at the weekend because, and I quote, “all agents are a bunch of workshy cowboys who don’t do anything to justify the commission payments they receive on making sales”. And as you know people in Facebook groups are reasonable people with considered opinions who are not know-alls at all and know everything about everything despite never having worked in any of the industries they opine on so it must be true right?
We have been asked to provide more information about what utilities are common when you buy Valencia Property and what the costs are typically of those utilities. Typically you will buy a house or apartment in Valencia which is supplied with water, electricity and perhaps gas. You may also include in the list of utilities internet, telephone and even home security so in this post we are going to look at those costs too because even if they are not supplied you may want to know more about the costs involved in those. Equally we also look into the change of ownership and the council taxes. In other words, yes, this will be a boring but necessary post.
When I first moved to Valencia in 1998 we lived in a small rented house in L’Eliana. My wife had visited Valencia to look for a place while I prepared the van for the move and she was advised by everyone at the school she was going to be working at that L’Eliana was the place to be. She rented a small house with a patio at the back and essentially a fishpond for a pool and we moved in that August.
Six months later we bought our own house in la Pobla de Vallbona, the next town out from L’Eliana, because we couldn’t afford the prices of L’Eliana and La Pobla was around 30% cheaper despite the fact you can walk from one to the other in 20 minutes. Over twenty years later L’Eliana continues to be the place that people from Valencia aspire to live in, along with a few others that we will mention later and La Pobla continues to be around 30% cheaper because the basics don’t change.
We have just produced the final episode of the first series of the Valencia Property podcast (You can listen to all the episodes here). We are not finishing with the Podcast we are just going to a new schedule as it has been majorly successful for us as a marketing tool and we love doing it as it gives us more of a connection with our clients. It’s amazing how many people listen to podcasts these days.
So today we are going to look back at what we have done so far on the podcast, tell you where to find those episodes, look at what the podcast has done for us as a company and look at the state of the property market through the lens of the properties we have sold this year, in terms of prices, availability, nationalities buying and a whole lot more.
This isn’t going to be an epic long post like some of our recent ones but it is quite important as it explains a concept that we have mentioned in passing before but as it is now becoming more the norm you should know more about it. We are talking here about the concept of the reserve payment to take something off the market while the owner considers an offer.
Traditionally the process of buying a Spanish property, which you can read more about at the link, was simple, make an offer, wait until it is accepted or negotiated and then put a deposit down in the Arras contract. Things have changed because of the market which is blowing really hot.
Here at Valencia Property we generally sell properties that you can see, feel and touch, ones that already exist and we can photograph, measure, takes videos of and generally take the mickey out of in our descriptions. We choose to list only properties that we feel give good value for money even if they may need a little bit of tender loving care (Narrator’s Voice: “He said charitably”). There are a multitude of reasons for this including the obvious one of the fact that the legality of the property is already established but there are many other reasons we tend to avoid listing off-plan properties unless we know the developer and the architect very, very well and know the plots where the property is due to be built.
In today’s article therefore we are going to expand on a theme in our latest podcast about why you should almost never buy an off plan Villa in Spain, or maybe just in Valencia. It may be different in other areas of Spain but if you are looking at the coastal strip it’s almost never a good idea.
Today’s post looks at whether you are getting value for money when buying a property in Valencia. To decide this we must look at what we mean by the term value for money because it means different things to different people. What is the measure we are going to use? To determine this we are going to use four metrics.
1) Reference Values
2) Comparative Methods
3) Space and M2 Price
4) National and International Comparisons
Finally, we have arrived in Spring in Valencia and the sun is out and the temperatures have risen. It’s unusually late this year but we are now looking forward to a long warm spring and summer. Here at Valencia Property we are really busy as always and we start the week tomorrow (Because today, Monday, is yet another holiday in the city) with a day at the notary and afternoon visits to properties.
Here at Valencia Property we look for good value properties for our clients. Of course this doesn’t mean cheap properties, we often work with clients looking to get their Spanish Golden Visa through buying property in Valencia so we often see property right at the top of the range in the best areas of Valencia. However, there are also properties that we just don’t have clients for usually so we don’t list them (Maybe if we did we would get clients for them, chicken and egg and all that) Most of these properties are those at the top, top end of the market and the reason we don’t list them usually is that we can find better in better locations or for better prices. As an example we would never advise anyone to spend 6 million Euros on a property in Monasterios but properties there cost up to that amount and sometimes more.
Here at Valencia Property we have been working with clients for over twenty years now helping people with buying their properties. It’s because of this that it pains us to see what can happen to people when they are looking to buy in Valencia so we thought today we would tell you a few things that are happening in the background so that you can avoid the worst problems. Of course we will always tell you to use our services but we cannot advise you not to use others’ services. Some agents are really good, some are ok and some are absolute cowboys. Today, we will talk about some of them, the cowboys of course, and also about the scammers that we featured in our latest podcast which you can listen to here.
One of the main questions we get asked by clients looking to buy Valencia Property is why they need to open a Spanish bank account. Spanish banks aren’t known for being easy to deal with and they are certainly going to charge you commissions for just about everything you want to do, and for the mere fact of the existence of the account, so why on Earth would anyone want one. In today’s post we are going to let you know why and what to expect.
The European Union wants to crack down on Golden Visa programmes. The War and the perceived abuse of the system by Russians (and also other country’s citizens) bearing in mind the current situation in the Ukraine, means that the EU has decided that now might be the time to crack down on the Golden Visa process.
We have been dealing with people getting the Golden Visa for years now and the vast majority of our clients being granted the Golden Visa are from North America and latterly the UK. However the crackdown may be more general rather than on individual countries. Only this week a block was put on applications from Russians looking for the Golden Visa in Spain.
The refrain we are constantly repeating on every call we receive asking us whether we have anything to rent is as follows:
“I’m sorry, we haven’t got anything”
Every day we receive calls, Whatsapps and mail asking us whether there are any flats for rental and we haven’t got anything. Now and again we get an apartment for rental and we are renting it out in days without a problem. As a potential Valencia Property buyer looking to acquire a property for rental this is good news of course as you have a large pool of potential tenants looking to move into your apartments.
Last year we wrote that the Valencia Property market had gone mad, you can read it here. (We got a content warning from Facebook that the post was discriminatory, go figure) Now we need to write that it has gone ever more mad, madder perhaps or “completamente loco”? The first two months of the year were the busiest we have ever experienced (In 22 years of doing this) and things are continuing that way so far in March 2022 despite…(Looks around and waves an arm in the air)… the World… so we are going to let you into a few secrets about the Valencia Property market as it stands so you can get ready for what is happening when you visit.
Valencia is a place that benefits from what the World has become over the last couple of years in general. It benefits because the basics for a good life are here with a more than reasonable climate (one of the best in the World according to many official sources), an excellent work life balance, an affordable place for people to move to from many more expensive areas of Europe and the World, a progressive outlook and from it being a comparatively safe place to settle in terms of personal safety and also safety from natural disasters, potential conflicts and more. Moreover it definitely benefits from homeworking and in this article we are going to explain why.
Those of you who listen to our podcast might have heard most of this post in the last episode. You too can hear it here along with a lot more information (Also make sure to subscribe for more episodes as they are released each Friday) However, we thought it was better to release this information here too as the more knowledge you have the better informed your decision to purchase Valencia Property will be and it might make more sense written down as there are lots of ifs, buts, maybes and numbers involved.
Those of you who listen to the podcast will have heard about the timelines you need for buying Valencia Property back in episode one (You can get it here and while there listen to our other episodes and subscribe). However, we know that there are some people who prefer reading to listening and therefore today we are going into a deep dive about the timelines you should be thinking about when looking to buy property in Valencia. Now this is an overview and for some people the timeline will change but as a general rule of thumb these are the stages and actions you should be thinking about.