English Speaking Estate Agents Alicante

Can I afford to buy a property in Spain?

One of the most common doubts that come up when we look at a house for sale is whether we can afford it.

Many times we have blown to the ear that it is better to buy than to rent, that renting a house we are throwing the money. However, during the economic crisis a lot of defaults came to the surface because many homebuyers bought above their means.

However, at the present time, everything has changed. Now there is a real estate market with much more reasonable prices, and with some banks that now lend money to much more advantageous conditions. If your dilemma is to buy or not to buy, in this article we help you to calculate if you can pay your home. Because that's the main thing. Then whatever you decide is up to you.

Calculate your annual gross income and multiply it by four.

Investment in a home should not exceed the annual gross income of a person (or a family) corresponding to four years. That is, if you multiply your gross annual income by four, you will get the maximum price that you should pay for your home.

Do not borrow from the bank more than 33% of your income.

Another formulas commonly used in the financial system is the so-called "30% Rule". Under this unwritten rule, the total indebtedness of a person (or a family) should not exceed 33% of their income. That is, the mortgage fee must be at most 30-33% of your salary / income.

However, in this case, the concept of indebtedness does not refer exclusively to the mortgage rate, but also to the other monthly receipts that we may have for other loans and credits. That is, all of our loans must account for at most 30-33% of our income.

Try to save at least the 20% of the price of the property.

Experts advise saving at least 20% of the price of the home as a guarantee to know if we can afford it. If you have savings and can pay cash up to 20% of the price of the house, experts calculate that you can cope with the investment, as long as you also comply with the first two requirements of this article.

Complete Spanish Property are your English speaking estate agents in Alicante.

At Complete Spanish Property we try to make your approach to the Spanish real estate market as smooth as possible. Our advice is to listen to the needs and requirements you may have. If you are considering buying a property on Orihuela Costa, Costa Blanca or Costa Calida, check out our portfolio of properties. We are sure we will have the property you are looking for.

Contact Complete Spanish Property and soon you will be enjoying your dream home in a wonderful place to enjoy life and feel energized and rejuvenated.

Found 11 Properties
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Ref: CSPT-30538

Apartment · Resale · Costa Blanca South · Mil Palmeras

105.000€

This fantastic two bedroom apartment consists of nice open plan lounge/diner and kitchen which leads onto utility area. There are two double bedrooms and a family bathroom. Outside there is a covered terrace and the apartment will be sold fully furnished. This apartment is situated only 200m from the sea with numerous bars and restaurants,...

60m2 Built · 2 Bedrooms · 1 Bathrooms ·


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Ref: CSPH-19040

Apartment · Resale · Costa Blanca South · Mil Palmeras

117.500€

This fantastic south facing two bedroom apartment consists of nice open plan lounge/diner and kitchen which leads onto utility area. There are two double bedrooms and a family bathroom. Outside there is a covered terrace and a private garden which looks out onto the beautiful communal gardens. There is also a storage room for outside furniture...

90m2 Built · 2 Bedrooms · 1 Bathrooms ·


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Ref: CSPH-22530

Apartment · Resale · Costa Blanca South · Mil Palmeras

119.995€

Reduced from €140,000 to €119,995. This 3 bedroom, 1 bathroom "Frontline" apartment is located in Mil Palmeras and is within easy walking distance to all the local amenities, shops, restaurants and the beautiful sandy beaches. Situated inside a gated community with large swimming pool and landscaped gardens this property comprises of an...

90m2 Built · 3 Bedrooms · 1 Bathrooms · Pool


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Ref: CSPH-73297

Apartment · Resale · Costa Blanca South · Mil Palmeras

165.000€

This luxurious 3 bedroom, 2 bathroom ground floor apartment is situated on the sought after Rio Mar development in the popular area of Mil Palmeras. The stunning beach is just 500 metres away and a great selection of amenities are all close by. The property comprises a large garden with storage cupboard, very spacious lounge/diner, large...

72m2 Built · 101m2 Plot · 3 Bedrooms · 2 Bathrooms · Pool


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Ref: CSPM-42763

Townhouse · Resale · Costa Blanca South · Mil Palmeras

184.900€

Set in the Riomar development in Mil Palmeras, we have this three bedroom townhouse for sale. The development has superbly maintained gardens and a large communal swimming pool and is walking distance to the beach and also restaurants and bars. The property has a plot of 100m2, which has been tiled and has 79m2 of internal living space and...

79m2 Built · 100m2 Plot · 2 Bedrooms · 2 Bathrooms ·


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Ref: CSPM-87623

Villa · Resale · Costa Blanca South · Mil Palmeras

235.000€

Set beachside of the N332 and just a couple of minutes walk to the beach is this traditional detached villa, which has 80m2 of living space and has a plot of 300m2. Outside, there is room for off-road parking, private swimming pool and garden, which is mainly grassed and has privacy with some conifer tree´s. Inside, the villa provides two...

80m2 Built · 300m2 Plot · 2 Bedrooms · 1 Bathrooms · Pool


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Ref: CSPM-69164

Villa · Resale · Costa Blanca South · Mil Palmeras

480.000€

Villa in Rio Mar, Torre de la Horadada for sale This 4 bedroom, 2 bathroom detached villa has a nice pool, cenbtral heating and A/C-. The property is situated in a quiet residential area within walking distance of shops, restaurants, bars and the beautiful Blue Flag beaches Mil Palmeras. Thje villa is comprised of a spacious...

512m2 Built · 189m2 Plot · 4 Bedrooms · 2 Bathrooms · Pool


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Ref: CSPB-79306

Villa · Resale · Costa Blanca South · Mil Palmeras

499.000€

Mediterranean style villa located in Mil Palmeras, Orihuela Costa. The property has 3 large bedrooms with fitted wardrobes, 1 bathroom, spacious living room and fully equipped kitchen. The villa has also a sunny terrace with barbecue and private garden with swimming pool. Mil Palmeras is a tranquil seaside resort, located at the...

95m2 Built · 1.127m2 Plot · 3 Bedrooms · 1 Bathrooms · Pool


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Ref: CSPB-84418

Apartment · Resale · Costa Blanca South · Mil Palmeras

550.000€

Modern style fourth floor apartment with sea views situated in Mil Palmeras, Orihuela Costa. The property has 3 bedrooms, open kitchen, utility room, 2 bathrooms, 25m2 terrace looking to the sea, where you can enjoy great views. Located in a gated complex with large communal pool and common areas. It has underground parking. Mil...

86m2 Built · 3 Bedrooms · 2 Bathrooms · Pool


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