Buying a condo in Spain
Posted: Mon Jul 08, 2019 10:32 am
Wanted to get a sanity check on my thoughts in regards to buying a condo in Spain. It's €90,000 for a 400 sqft 1-br in a little city called Santiago de Compostela in the Galicia region (north). It's in a good area. Equivalent rent for a place like that would probably be €350/month. To buy this condo here in Spain I would have to cash out about $120k of my taxable investments to cover taxes and transfer fees.
I'm retired. 41 yo. I earn some money from my own website and some consulting work I do. I own another condo in the US worth about $170k which I have sitting empty because I don't need the income but have rented it out either on AirBnb or to friends from time to time. I have another $800k in investments.
A part of me thinks it's better to buy so that I have a fixed housing cost and another part of me thinks that renting makes more sense. I see myself living here for the near future but I'm open to living back in the US if I choose to. Got no family so it's just me.
I'm retired. 41 yo. I earn some money from my own website and some consulting work I do. I own another condo in the US worth about $170k which I have sitting empty because I don't need the income but have rented it out either on AirBnb or to friends from time to time. I have another $800k in investments.
A part of me thinks it's better to buy so that I have a fixed housing cost and another part of me thinks that renting makes more sense. I see myself living here for the near future but I'm open to living back in the US if I choose to. Got no family so it's just me.