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I guess my overall thinking was based on what hippy has said here previously, he owns or is close to owning his UK property outright. Renting that out would likely net a better return than selling and buying in Spain. Even if that's the plan and in addition he has the cash to purchase most of a residential property in Spain, I'd still buy in another country and rent in Spain.
Paid in full.
Probably. No chance I'm selling the UK place to fund the Spanish place. I'll do what I did here and buy conservatively. It'd make much more sense to rent this place out and move to Spain. If Spain goes tits up I could return or move elsewhere and still have rental income if I need to change jobs.
I think mortgage on this was around 650/month, I was overpaying to 1100 month plus some big lump sums to get it paid off quickly. Rental from this place would probably be 1100+ but I live here so don't really pay attention to rental market.
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hippy
Of course. But if you are able to get a long term lease with known % rent increases and aren't in a hyper competitive market like London, then it's different.
I'd be surprised if there is anyone in this thread who's UK mortgage (even with costs inc.) is greater or equal to the cost of renting their UK home.
The state of the UK market doesn't apply everywhere - in NYC for eg, dispite competition and amazing mortgage rates, the cost of property taxes (and probably building MGMT charges) mean buying isn't the same no-brainer it is in London.
I guess my overall thinking was based on what hippy has said here previously, he owns or is close to owning his UK property outright. Renting that out would likely net a better return than selling and buying in Spain. Even if that's the plan and in addition he has the cash to purchase most of a residential property in Spain, I'd still buy in another country and rent in Spain.