The latest news from Marena Murray

The latest news from Marena Murray


Welcome to the latest edition of the Marena Murray monthly newsletter


Is Buying With A Friend A Smart Investment?

Buying a house can be a clever investment. The more you pay back, the more equity you will gain on the property that organically grows overtime, and even more so if you invest money into the property. It can be an unnerving thought saving independently, so the question often arises to whether it is a smart decision to invest with a friend.

It’s easier with two!
Anyone who has bought a house before, will understand the test of applying for a mortgage loan. When applying for a conventional home loan, the lender will need a minimum of 680 credit score and at least a 5% deposit. For some people, this can be quite daunting and infeasible. But having two people signing the mortgage application can increase the odds of agreement.

If you do decide that buying a property with a friend is the right move, the mortgage lender will base the approval on the combined income and the average of both your credit scores. This of course increases the financial opportunity for you both and will also ease the overall fee by splitting everything equally.

One bad credit report can reflect badly on you both
It may all sound well and good splitting everything equally, but it can also be tricky relying on someone else with such responsibility. Your friend may begin to be punctual with payments, but for whatever circumstances; job loss, demotion, or just struggling to afford the mortgage from their monthly income, and they are late paying, it can then put your credit rating at risk.

Because both of your names are on the mortgage, you both are responsible for that commitment. If payments are late, then the bank will report you both to the credit agencies for nonpayment, despite whose fault it is. But don’t stress, you do have a full 30 days after your payment due date before the lender can make an official report to the credit bureaus.

Monthly expenses halved
A big advantage of living with somebody else is being able to split the household bills. Paying for this alone, as well as the mortgage can be hard and could leave you with very little left over at the end of the month. Taking that pressure of, by sharing the cost can be a beneficial aspect.

Council tax, utility bills, telecom, TV license and insurance are your typical household bills. And that isn’t even including food, travel costs, gym memberships, credit card payments or healthcare! With all that you will be thankful for that extra person.

Are you ready to test your friendship?
Things can quickly turn sour over the slightest disagreement. Whether it be over your bills or just simply pulling your weight with the cooking and cleaning! To avoid this, cover your back. In your written agreement, go into detail. The breakdown of expenses, how repairs are managed and how together, you will maintain the property.

Unlike renting, it’s not as simple as finding a new roommate if things go bad. Removing someone from the mortgage can be hard. You either would have to sell the property or refinance the loan under just one name. Neither option is easy. Selling can take months and approval is never a guarantee. Have an agreed-upon exit plan outlined in the written agreement to protect yourself.

Key points to take away
• Try renting first. There are options to rent month to month at some properties, so why not test it out first. See how you both split the cost, take on responsibilities and look after the place.

• Do your research. Just like a bank, check their credit reports. See how much they earn and If they have made previous payments on time.

• Hire an attorney to write your informal contract. Cover all avenues and be detailed. Just do your research and make sure you and your friend both have the income to cover the monthly investment.



Spanish Government suspend mortgage payments

Spanish Government suspend mortgage payments during the Coronavirus emergency in Spain.

 

The moratorium has provided a helping hand to small businesses during this worldwide emergency. The Spanish government have started announcing measures to reduce any financial and economical impacts that the virus has had, by suspending mortgage and rental payments for companies and those who are self-employed workers.

 

 Currently this measure is applicable to the sectors of the population who are in an economically vulnerable position due to Covid-19 and to those diagnosed. However, it has not been ruled out that the suspension of payment could be extended to individuals who have been made redundant due to the national emergency.

 

This is intended to assist employees who lose their income because of the crisis and the self employed who will suffer a drastic fall in income.

The regional government have set up a helpline to provide information to members of the public. They also urge people to call 112 emergency service line if they suspect they have the symptoms of the virus. Please don’t go straight to the hospital or medical centres, a member of medical staff will be sent to your home for testing.

 

For more information: https://murciatoday.com/spanish-government-suspends-mortgage-and-rent payments-for-businesses-the-self_employed-and-those-losing-their-jobs-during-the-coronavirus-emergency-in-spain_1359250-a.html 



10 Home Decor Ideas

 
Now that spring is just around the corner, the much-welcomed extra sunshine might be shining a light on some of the less-polished parts of your property. If you’re thinking that a good spring clean won’t quite cut it this year, then follow our 10 home decoration ideas to instantly transform your home…

1) First impressions count
We all know that it is tough to change a first impression once it has been made, and the same is true for our properties. If you don’t have a grand entrance hallway, and even if you do, it is important to create the right aesthetic as soon as you step through the front door. Depending on the size of your entrance hallway, choose an appropriately sized console table with a few choice ornaments and you’ll create an elegant first impression. A traditional table with some tasteful art above it will set a sophisticated tone, and an on-trend transparent table with high-gloss accessories will create a chic and modern atmosphere.

2) Mirror, mirror on the wall…
If you have a staircase in your home, it is easy to see it simply as a passageway to the next level of your home. Similarly, if you live in single-storey accommodation then you will most-likely have a hallway that you see simply as a thoroughfare. Instead of treating these spaces as utilitarian, turn the walls in to a gallery by hanging a variety of antique mirrors, an eclectic mix of photo frames or a mixture of both. Charity shops and antique shops are a great place to source interesting frames and mirrors, and as an added bonus, the reflective surfaces will help to brighten up the staircase or hallway.

3) Feng shui your home
When it comes to transforming your home, it’s not just a case of spending money – using what you already have in a different way can have equally stunning results. Rearranging your furniture is simple enough to carry out, but it can change a room entirely; throw the rule-book out of the window when you are experimenting with where to put your furniture and see what looks best. In the living room, for example, arrange your furniture around a coffee table rather than facing the television and you will create a much more social space.

4) Don’t neglect the accessories
One of the most cost-effective ways to update your home is through accessories; by simply enhancing what you already have through a few choice items you can take your home from drab to fab. Of course, the essentials of throw cushions, blankets and ornaments (such as candles and vases) are the holy trinity when it comes to jazzing up your room; however, you can also branch out to lampshades, wall hangings and art. By rotating your accessories seasonally, you will keep your rooms looking fresh, on-trend and reflecting the time of year.

5) Flower power
If you’re going to do one thing to your home in order to quickly refresh it, then adding flowers is a great idea. Placing some nicely arranged flowers in a clear glass vase will make any room feel more cared-for and elegant, all for only a few pounds!

6) Create a dreamy sleep-space
A good night’s sleep is essential for all of us, but the bedroom is often the last room that we renovate as it isn’t on show, like the living room or kitchen often is. Indulge yourself, and step-up your property’s style by investing in some bed linen. Plenty of cushions twinned with a matching throw at the foot of your bed will instantly make your bedroom feel more sumptuous, and you’re guaranteed to sleep soundly in your upgraded boudoir.

7) Don’t shrug from the rug
Floor coverings are costly and time-consuming to replace, so if you’re looking for a quick-fix to update your home then we wouldn’t suggest laying a whole new floor. Something that will make a difference, however, is the use of rugs. A simple rug can change the whole aesthetic of your room, and the choices are endless; you can choose from boho, rustic or traditional and small, large, long or wide. Experiment by layering rugs and creating interest in your floor spaces without the expense of having to change the whole floor covering.

8) Curtains up
Curtains are more than a privacy aid, they can add colour, texture and interest not only to your windows but also throughout the home, if you are brave enough to use them creatively. Using curtains as an alternative to a door can add rich texture to your home and using a contrasting colour will make them pop against your walls.

9) Let there be light
Something that can make a room feel dark and dreary is a lack of light. If you want to transform your home, then changing the light fixtures, or adding in some extra lighting can make all the difference. Ensure that your ceiling lights aren’t dwarfed by heavy lampshades which are constricting the amount of light in the room – current trends favour glass lighting fixtures anyway, so changing your lampshade should be a simple fix. We’d also recommend adding in some uplighters and floor lamps to the corners of your room in order to avoid the wasted dark spaces which we are often guilty of neglecting.

10) Make a statement
If your walls are looking a little plain, or you’re simply looking for a way to brighten up the room then statement art is the answer. Easy to change and rotate with the seasons, statement art such as large-scale photography or something abstract will transform even the most listless room.



Viewings from the comfort of your home!

Technology is a wonderful thing!

Thinking of buying your Home in the Sun in La Manga Club?

Why not have a viewing of some of our stunning properties from the comfort of your armchair by FaceTime?

Contact the office to arrange a virtual viewing today


Click here to read Viewings from the comfort of your home!.



Place Your Property in our Hands

Our hand-picked, driven and efficient Management Team will carry out regular checks on your property whilst you are not in residence and provide speedy feedback to you confirming everything is in order.  We are the most pro-active team on the resort with a high level of experience.

Click here to read Place Your Property in our Hands.



Guided Bike Ride

The Sierra Espuna Natural Park offers some of the most stunning scenery in Murcia & one of the most challenging Murcia cycling climbs. Every weekend hundreds of cyclists climb Collado de Bermejo.

Click here to read Guided Bike Ride.



Craft beer and tapas

Pay 12€ in advance and get 3 craft beers and tapas. A way to meet other students from UCAM! 
 
Sat Mar 28 2020 at 01:00 pm
 

Click here to read Craft beer and tapas.



Rod Stewart Tribute

Possibly the best Rod Stewart tribute on the Costas , this guy is special. €15 pp includes a 2 course meal.Early booking essential for what is always a sell out.
 

Click here to read Rod Stewart Tribute.



Five top tips for a stress-free moving experience

 
Buying a new property has the potential to be stressful, and we get it! To help you out, we have put together this guide of helpful tips, based on real buyers’ experiences.
 
 
1. Planning
 
It might seem obvious, but lack of preparation can be the biggest hurdle for homeowners and buyers, with two-thirds of viewers forgetting to bring pre-prepared questions when taking a look around a new property.
 
Put together a criteria of your non-negotiables and the features or items that you’re willing to compromise on, and make sure you’re spending your time wisely. A thorough search online will give you a good starting point finding suitable properties, but you can also reach out to agents directly, as they may have similar properties you’ve overlooked.
 
 

2. Understanding the process
 
Next, it’s about ensuring you have set realistic time expectations and have set aside the required amount needed for the deposit.
 
Not everything will go according to plan every time, so make sure you’re aware of potential blockers that could get in your way.
 
 
 Likewise, you don’t want to under-plan for your budget. Take into consideration average fees so you don’t overstretch yourself.
 
 

3. Build connections
 
Another great idea is to get to know the seller and their agent, as this has the potential to make them favour you as a trusted buyer.
 
Similarly, talking to neighbours when viewing a property is invaluable. You can obtain information about the local area, as well as inside knowledge about potential problems about the property.
 
Along the same lines, checking local internet speeds, phone signal and parking permits is a great way to be prepared prior to your moving date.
 
 
 
4. Preparing your own sale
 
If you’re looking for a quick sale, staging your house correctly is extremely important.
 
Freshening up paintwork and completing any repairs or improvements will add tremendous value to your home.
 
Well-staged homes have been proven to sell for higher prices than for those that are not. So before having your house photographed, make sure each room is captured in its best light, and avoid having any seasonal decorations up, as this could date your listing.
 
 
 
5. Moving in 2020
 
The best way to reduce stress when buying or selling this year is to make sure you’re completely comfortable with the pandemic measures that have been put in place by agents.
 
This includes any measures to limit human contact, as well as remote processes and online marketing strategies to reduce the number of people meeting you in-person.
 
 
To find out how we’re safely conducting sales and lets this month, contact us.
 
 



How to make your property stand out in a busy market

 
More new listings are coming onto the market now than at the start of the year, as the post-lockdown relocation boom settles in.
 
 
With increasing competition on the market, how can you make your home stand out to buyers this season?

 
 
Emphasise your outdoor and indoor space

Properties with gardens are more desirable than ever.
 
If your home has this to offer, showcase it. Ensure that the grass is freshly mown, and any fallen leaves  are cleared away before viewings.
 
To help your property withstand winter weather, it’s also important to fix existing items in need of repair and to check your fences are sturdy. If you have time, a fresh coat of paint will also work wonders.
 
Another shift in buyers’ priorities is the need for a dedicated office space.
 
If you have a spare room that would be ideal for working, make sure that it is set up neatly to demonstrate its functionality.
 
 
 
Family areas
 
Communal spaces are a great selling point for a property.
 
Staging a large dining table in your kitchen area will show to a potential buyer that the property can accommodate gatherings with friends and family. Similarly, a living room with lots of seating will create a great social environment.
 
 
When it comes to preparing for property photos or viewings, it’s critical you cast your eye over every room first, as untidy or cluttered looking spaces can negatively impact the overall feel of the property.
 
 
 
Keep it neutral
 
Whilst your personal style might give your property a unique character, not everyone will agree with your choices.
 
Experts claim that perceived bad taste can cause you to lose between five and ten per cent off the value of your home.
 
Before selling, consider stripping away some of your personal belongings and stick to neutral, non-offensive décor; giving your viewers a blank canvass to visualise seeing themselves living there.

 
To see what properties we’ve currently brought to market near you, browse our latest listings.
 

*Source: BriefYourMarket.com
 
 



Properties priced correctly sell in half the time

A recent study confirms what we’ve long since known, that the asking price set for your home is a key determining factor in how it performs on the market.
 
When priced right the first time, the findings were that a house sold 26 days faster, on average, if the asking price remained the same.
 
 
As your leading local agents, we can ensure that your home is competitively priced.
 
Resident data expert at Rightmove – Tim Bannister – had the following to add: “This analysis shows just how vital it is that sellers listen to their agent when they recommend the asking price that the property should be listed at.
 
“If sellers are serious about selling, then starting with too high an asking price can cause unnecessary delays, and also make it a lot less likely they will actually find a buyer in the end.
 
 
Contact us here for a free valuation of your property.
 
We appreciate how demotivating it can be to experience delays when you’re excited to progress your property move.
 
That’s why our valuations take into consideration a number of different variables, such as the condition of your home and properties in your area, making us the experts who can confidently evaluate your home’s worth the first time.
 
 



Bored buyers are behind the upsurge in market activity

 
From recent property exchange data, it has been suggested that buyers are seemingly ‘bored’ after the lockdown; leaving them eager to move on from the first half of 2020 and get on with their next property sale or purchase.
 
 
 Due to current market conditions, prospective buyers are fearful of missing out on good deals, leading to an increased rate of accepted offers.
 
 

Key reasons you should be thinking about buying in October:
 
- We’re listing stunning properties on a regular basis.

- Starting the process now will give you just enough time to complete and be in your new home by Christmas.

- Due to lockdown, sellers are more motivated to reach completion and avoid delays, making them more realistic about the offers they’re willing to accept

 
 
Are you ready to see what’s currently on the market in your area?
 
We have implemented measures to help you safely and responsibly move in 2020. For more information on what practices we have in place, contact us today.
 
 
*Source: Knight Frank, Estate Agent Today