Home ownership advice

Questions relating to buying or owning a property. Moving to Menorca Sub-forum: moving to, or living and working on Menorca
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kieronf
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Re: Home ownership advice

Post by kieronf » January 12th, 2019, 6:46 pm

pc.hc@tesco.net wrote:
January 12th, 2019, 5:03 pm
Hi Boycie

It is currently a holiday home as we can only get out there for about 10 weeks a year currently.

Any help appreciated

Phil
Ignore my posts completely then

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Sunseaker
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Re: Home ownership advice

Post by Sunseaker » January 13th, 2019, 6:44 pm

I am sure he is not ignoring your post, just wants as much information as possible.
I only let him think he's in charge.

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kieronf
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Re: Home ownership advice

Post by kieronf » January 13th, 2019, 9:21 pm

I'm getting a sense that we should have a thread for day to day 'how to' stuff - ie get a gas bottle, sign on at the town hall, get residencia and so on.

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Re: Home ownership advice

Post by Slartibartfast » January 14th, 2019, 11:00 am

That is a good idea If someone would like to post the first "day to day - how to" I'll make it sticky.
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Re: Home ownership advice

Post by Boycie » January 15th, 2019, 9:50 am

If it's a holiday home.

You need direct debits for Water, Electric, Council Tax, and community charge if it is a apartment on a complex.
Our solicitor did all of the above for us apart from the community charge which we did ourselves at the first AGM of the complex we attended.
The only other thing you need to do is non resident tax, our solicitor also did this for the first few years until I found another way to pay it which was very much cheaper than the solicitor. Hope this helps.
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Re: Home ownership advice

Post by pc.hc@tesco.net » January 19th, 2019, 3:42 pm

Dear all

Apologies definitely not ignoring anyone’s posts. Really appreciate this site! Still not sure what we are and not supposed to do.

Wish there was a calendared events checklist somewhere on what you need to have in place.

THANKS EVERYONE

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kieronf
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Re: Home ownership advice

Post by kieronf » January 19th, 2019, 7:45 pm

If you can leave a little precise detail (without personal or financial info) such as - time spent on the island, do you rent your property to other than friends or family, does your property have a licence, are you part of a complex, do you pay community charges etc etc etc..... that will enable people to give you detailed advice.

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Re: Home ownership advice

Post by pc.hc@tesco.net » January 20th, 2019, 1:26 am

Hi

We have a townhouse above a shop as we wanted to try and be part of the community and have all year round options. So no community charges. We don’t rent the property out, however family and friends use it for a couple of weeks. We currently spend around 10 weeks a year on the island based around the school holidays as my wife and I are both teachers. Is there anything else that you need to know to advise?

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Sue Adderley
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Re: Home ownership advice

Post by Sue Adderley » January 20th, 2019, 3:50 pm

Hi

I must say it doesn't sound as if your Abogado was very helpful! Most of this should've been sorted by them when you purchased your property. I do hope that they checked all outstanding bills (IBI Tax etc. on the property) had been paid up to date before you bought it, as you would also be liable for these if there were any unpaid :shock:

I've copied some info from Spanish property websites. I hope it's useful!

[u]After buying a property[/u]

As a non-resident property owner you must be aware of two things. First, you need to obtain an official identification number that will allow you to pay taxes. This is called an N.I.E. and is available by filling out a form at your local National Police commissary.

Check that your Abogado has registered your property with the Town Hall. If they have not, take along your Escritura (title deeds) and Passport and register it. You have two months to do this before a fine may be applied for your not doing so.

[u]Taxes[/u]

IBI - This is the is the twice yearly (March and August) set of bills payable to the local council (Ajuntament).
IBI stands for "Impuesto sobre Bienes Inmuebles", which could be translated as "property tax". This is a municipally levied tax and varies widely from one municipality to another and from one type of property to another. You might for instance, pay as little as 50 euros per year for a simple property in a rural area. While a luxury home on a prime lot in an expensive urban neighbourhood might cost as much as 1,500 to 2,000 year. It is best to arrange a standing order at the bank in order to pay this tax.

[u]Non-resident's Tax or Imputed Tax[/u]

This is payable once per year, by 31st December, for the previous year and is paid to the Spanish Tax Authority. You have to pay this tax whether your property is rented out or not.

In the first instance I suggest that you ask your Abogado about this tax.

I can recommend a very helpful Abogado in Mahon, who speaks perfect English and doesn't rip you off (we switched to him when we discovered our original Abogado was a shark :evil: ). Just let me know if you'd like his details.

Sue

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Re: Home ownership advice

Post by pc.hc@tesco.net » January 20th, 2019, 10:37 pm

Thanks Sue this is really helpful thank you. Your contact might be useful. Thanks

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