Acquisition of real estate on the Costa del Sol is a costly event in itself. Prices for the purchase of luxury housing, with a private pool, several bedrooms and bathrooms, start from 1,000,000 euros, depending on the area where they are located, as well as the distance from the sea.
The question that remains open after the purchase of the villa is its proper maintenance. In this article, we decided to describe all the costs that you will face when becoming the owner of a villa in Marbella.
Villa maintenance: what is included in this concept?
The cost of maintaining a villa depends on several factors such as location, property value, the size of the plot and the house itself, the age of the building and the type of urbanization or area the villa is adjacent to.
For example, in closed urbanizations, security costs are added to fees for garbage collection, land improvement and general infrastructure maintenance.
The cost of maintaining an urbanization varies depending on the prestige of the urbanization and the number of villas or residents on the territory.
So what are the costs ahead?
- Annual council tax (IBI) This tax is equal to 0.4-1.1% of the cadastral value, which is usually several times lower than the market value. The payment for this tax does not exceed the amount of EUR 1,500. Payable until December 12th.
- Annual Personal Income Tax (IRNR). Non-residents of Spain pay 25% of 2% of the cadastral value of the property. Or, if the property of a non-resident is rented out, according to the law, it is required to declare the income received and pay tax on it. But very often, a tax of 25% of the entire rental received is simply paid. Residents of Spain pay income tax based on their annual income.
- Wealth tax. Calculated based on the net asset value. The rate ranges from 0.2% to 2.5%.
2. Utility bills.
Water and electricity. The subscription fee upon connection will be a total of 120 euros. Payment by meter will cost from 300 to 500 euros per month. If the house is not resident, only a fixed monthly fee is charged.
3. Means of communication.
Typically, most Spanish providers offer a package that includes internet, television and telephone. It costs about 50 euros per month.
Installation of a security system in a new house will cost 400 euros. As a rule, alarms are already connected in villas. The monthly fee will be approximately 40 to 200 euros.
5. Cleaning the pool.
The pool requires weekly cleaning if used regularly. The cost of calling an employee who, in addition to cleaning, will monitor the water condition will be approximately 50 euros per call, i.e. per month the amount will be about 200 euros.
6. Services of a gardener.
Directly at the gardener's hourly rate: 15 euros per hour. In this case, the price will be influenced by factors such as the size of the plot and how overgrown it is. The more complex the landscape design and the more plants on the site, the higher the fee. It is very common for gardening companies to offer pool cleaning services as well, so nº 5. and 6. can be mixed in one single fee.
7. Community fees.
This includes the cost for services for the improvement of common areas and the maintenance of internal infrastructure in urbanization. If your villa is located in a closed urbanization, the payment will be approximately 300-1500 euros per month. Depending on the complex. The price is conditional, it all depends on the individual urbanization and the area.
We sincerely hope that this article was helpful to you. We also want to clarify that the InvestHome team is always ready to help its clients.
Are you looking to buy property on the Costa del Sol?
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