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You either pay your mortgage or pay someone else's?
Live in a place for 25 years, you own it.
Live in a place for 25 years, you dont own it.
Pretty simple no?
BTL's are no longer profitable for anyone not buying with cash (roughly).
Good point reg global warming though, Southern Europe will be cooked in 25 years.
chrisbmx116-
Bit of cognitive dissonance in your post. If housing is a bad investment (ie BTLs are no longer profitable with a mortgage), then why would you buy a house, it makes no difference whether it’s your own or someone else’s. Rent and divert the savings from mortgage principal and maintenance into another asset class.
NickCJ
https://www.aplaceinthesun.com/
;)
Out of curiosity, why do you want to buy a property in Spain?
In the UK I get it. Essentially unless you're wealthy enough to rent you can't afford not to buy.
But take the financial benefit out of it, what is the advantage? So you have a place to call your own / spend your disposable income on "renovating"?
From what I understand 3+yr leases are not uncommon, so the AST bullshit you get here is less of an issue. Capital grown has been awful, and global warming forecasts mean you're going to have to move north in the medium to longer term anyway.
My 2p would be to have a BTL in the UK (or at least another country offering a good yield) then rent long term 5yr lease once you've picked a spot.