No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
For swallows and those who move to Tenerife full time, building complex management can take some getting used to but is it any better or worse through the current pandemic?
When people first rent in a complex or buy a property that is contained within a complex, they can sometimes find that the community management is a little … well … complicated.
Take my neighbour, for example. When she and her husband moved into this community they embarked on a home improvement project which involved building a new floor and painting the exterior of the house. They did a lovely job and their house is in keeping with the general appearance of others in the street but that did not prevent them from receiving a visit from La Presidenta to give them a telling off for not following community guidelines. And this, despite the fact that the community president has herself extended her property by adding a new floor and extending her garden. This do-as-I-say-and-not-as-I-do situation is not uncommon.
This interference in what you do with your own property might seem to be a ridiculous intrusion but when you buy property on a complex you are bound by the community rules as to what you can do to that property. If the rules say you must have dark stained wooden shutters then you won’t get away with a bright sunny, yellow. Same with the height of the walls or the materials used in building an extension.
Then there are the community fees and the transparency or lack thereof of what is being done with the money you pay into the community each month. In one local complex both the president and the administrator were recently bounced out in what would have been a bloody coup in the old days. The complex residents had had strong suspicions of book-cooking for quite a while and when evidence was finally obtained, the two were trounced at the next election committee. Whether legal action will be taken remains to be seen.
That story pales in comparison to the situation my friend is currently experiencing. She is inches from paying her last mortgage payment, only to have the once beautiful complex she falling into disrepair during the Coronavirus pandemic. It’s all very well for the community management to plead poverty during the current crisis, but they are still taking management fees while the pools and walls crack and peel.
While the notorious fraudster at the head of the complex management company continues to line his pockets, the community struggle to get heard in court because he holds on to a greater number of absent proxies than all the permanent residents combined.
Not all complex management is bad. There are some whose focus is not to line their own pockets but rather to improve and enhance the environment for all their residents. Rent or buy on one of these complexes and your stay there is likely to be a happy one.
What has your experience been with complex management? Feel free to name your complex and give them hearty thumbs up or a boot in the backside.
I rented in Tenerife for 17 years. Although I often daydreamed over buying a finca and having a place of my own, financially that was always going to be pie-in-the-sky.
That was until rental prices in Tenerife went through the roof. Not only that but as an animal lover, finding longterm rental properties that permit dogs is getting more and more difficult. As prices got higher, it eventually became clear that I had two choices, get rid of my menagerie and move into a smaller apartment or get a place of my own. So make that one choice then.
By necessity, my new casa was going to have to be cheap and would have to have as close as possible to 100% mortgage. Of all the bargain properties available in Tenerife, the cheapest – at least to get the mortgage – is always going to be a repossessed property. You may find later on, as I did, that the previous tenants have left such a long list of damage that you have not won yourself a bargain but if like me, you really need to get your own place and money is tight, a repo with 100% mortgage may be your only option. After all, once it is yours, you can spend as long as you like doing it up, right?
Well first, let me tell you that any repo in Tenerife is unlikely to be a des-res. Believe me, if it was, the employees of the bank that has it on the market would have snapped it up before it saw the light of day. I remember some years ago, a repossessed property in one of the nicest complexes in Costa Del Silencio was snapped up by a Spanish accountant at an incredibly low price. I was quite new to Tenerife then and I asked how he had found the property to buy. There never seemed to be any repossessions advertised in the local English language papers at that time.
I was told that the lists of those properties that had been taken over by the banks and were to be put up for sale at vastly reduced prices were only available to ‘those in the know’. In other words, if you were not related to the bank manager’s wife, forget it.
So, don’t think you will find a pretty little two-bed with sea views and close to the sea going for a song. No, the properties you are more likely to find will be sad, neglected and even, as in the case of my own repo, vandalised.
In my case, getting off the rental treadmill was worth looking into locations and at property, I would not otherwise have considered. I scoured property pages online and I had every Spanish property website sending me emails of their new listings on a daily basis. At the time, I was not actually looking for a repossessed property as I was under the impression that these were no longer available in Tenerife.
Well, I was wrong. There are plenty of them if you know where to look. You can start with these property listings. Each is related to a bank.
Building Center is the management platform and real estate subsidiary of Caixa Bank that handles defaulted property and it sells or rents properties through Servihabitat.
If you search Servihabitat for properties for sale, those that you see with the Building Center logo are repossessed property for sale through Caixa Bank.
Up until the 1950’s there was only a lime kiln, a tuna factory, and a handful of fishermen’s cottages lining the natural harbour and quaint little coves that make-up Playa San Juan -and yet despite its huge growth in popularity over the last 60 years, it has still managed to retain its reputation as one of the most beautiful and tranquil fishing villages on the island. Abama is also only a fifteen-minute drive from the magnificent resort of Los Gigantes -so named because of its towering cliffs that rise between 500 and 800 meters above sea-level. fFfteen minutes to the south of Abama is the bustling areas of Los Cristianos and Playa de las Americas. The Reina Sofia (south) airport is also less than a thirty-minute drive from Abama.
The area is most famous of course for the stunning, five star Abama Hotel, which boasts a total of 469 suites and guest rooms inestled within 400 acres of beautiful hillside landscaping.
The owners of the exclusive villa properties in Abama Resort benefit from access to the facilities of the hotel, the club room and the golf course.
The ‘eight’ Bellevue villas of ABAMA, which were designed by architect’s Virgilio Luis Gutierrez and Eustaquio Martinez, are notably distinguished by their exclusive location overlooking ABAMA’S magnificent golf course, along with affording stunning views over the Atlantic Ocean and the island of La Gomera.
Searching for Property Online with No Clear Plan
There is a lot of great property in Tenerife. Many of the houses and apartments for sale right now look so fabulous in the photographs displayed on the estate agent website that it is easy to get distracted from your actual requirements. Don’t start your online search until you know:
- what is the maximum price that you will pay for your new property;
- the size of the area in which you want to live and any specific requirements of the location;
- the number of rooms you need;
- is a garage, balcony/terrace or communal pool a deal breaker?
There will be items that you are willing to compromise on but by having a clear list of specific requirements you are much less likely to be swayed by pretty pictures or clever descriptions. You will save time, money and visits to houses that are really not what you are looking for.
Purchasing a property in Tenerife, as elsewhere, involves a number of costs over and above the listed price of the house. By taking into account the conditions of the mortgage and the additional expenses you will be able to take it in stride if the Euribor rises and you will have money set aside to meet taxes, pay the notary and if it is a part of the purchase agreement, meet the expense of the added value tax (a fee which is considered to be borne by the seller by law but which often in reality falls to the buyer).
Some properties can be bought at bargain prices because they are in a state of disrepair and need some renovation before moving in. It is common for those who have not had the experience of renovation a property to underestimate the amount of time and money involverd in getting a house or apartment back to a habitable state. While it is true that there are bargains to be had, you would be best advised to seek professional estimates of the building work required and seek appropriate discounts accordingly.
In the current economy the seller will be keen to press for a quick sale. Real estate agents are professional sales people and some will be very skilled at subtly (or not so subtly) pushing you to a buying decision. But a house is not an impulse buy. You need to take a breath and consider the purchase from all angles. Is it right, does it fill all the requirements you noted down? Is it well located, central to your needs? Is the financing favourable?
For many expats, the coastal areas of Tenerife seem like the ideal place to live. The major tourists’ resorts of Los Cristianos and Las Americas glitter like diamonds after the dull urban sprawls of grey UK cities. But is buying a house in the tourist district really what is best for the family? After the glitter has worn off a bit, many reconsider their first decisions and move to locations like Adeje town or farther out to Arico where larger properties can be had for much less money.
In summary, the best advice is to consider your needs, take your time and do not be pressured into a snap decision. Don’t forget to also consider the Spanish property portals when searching for property in Tenerife, where you might just find a hidden gem. The website Ventadepisos.com has listings for Tenerife and other cities.
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
Newcomers are often at a loss of where to find cheap, long-term accommodation in Tenerife. Even the B & B’s charge an exorbitant amount for a single room if you look at the charges over a month. Flat sharing is always a good idea when you are looking to save on rent but the question is, where do you hear about flat share offers?
Generally, the Cultural Centre notice boards are the place to look although you don’t have to bother today because this one in Playa San Juan would be hard to beat:
|This is a great deal for the money and will especially suit those that are working nights or in the entertainment business as the other tenants are night owls.The cost includes electricity and gas bills so no extra to pay. You will be asked for a deposit and if you want to fit in with the other tenants you’ll whip out the hoover now and then and clean up your own dishes. 😉|