The latest news from Marena Murray

The latest news from Marena Murray


Welcome to the latest edition of the Marena Murray monthly newsletter.
 
With the current restrictions in place, Marena Murray Property are offering virtual viewings to keep you moving with your property journey as normal. 


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.



Surge in homeowners keen to move this year

 

 
COVID-19 has caused a major shift within the property market regarding buyers’ and sellers’ attitudes.


So, what are the reasons for homeowners wanting to move?

After a year of restrictions and confinement, we've all had more time to reflect on the way we live and use our homes.

Many directly linked their reason for moving to COVID-19,  so we can see just how extensive the situation is, with many households finding that their villa no longer fits their lifestyle or needs.

As well as desiring a bigger outdoor space, such as a patio or balcony, other important factors include finding somewhere with:
 
 
Natural light: introducing natural light into your home reduces stress and anxiety, boosts immune systems and increases happiness through the production of serotonin – the feel-good hormone. This is especially important if the villa is a second or holiday home. 
 
Whilst these are just some of the core benefits, they are the most relative as to why homeowners are seeking homes with plenty of natural light.
 
 
A home office: working from home has given many of us the opportunity to see remote working as a long-term norm.
 
By working at home, families are able to share the responsibility of childcare and spend more time together that would have otherwise been spent separate.
 
 
 
A home gym: the initial lockdown caused a revolution for health and wellbeing, pushing many to implement home workout measures in order to stay fit, active and fulfilled.
 
The reality is that a lot of people won’t feel comfortable returning to their regular routines for some time, minimising possibly high risk locations such as gyms for a safer alternative, choosing to exercise from their villa instead.
 
 
 
  
 
If you're feeling fed up and in need of a change, we'd invite you to browse our range of stunning villas. Contact us today for more information.
 
 
*IDSystems
 



The increased demand for rural and coastal properties explained

 
Since the initial lockdown, the demand for rural and costal properties have increased massively due to the changing priorities and working habits. As many kept their immediate family at home and waited for the storm to pass, the need for outdoor space was clear.
 
Villas with larger living areas, dining rooms and plenty of outdoor space all seemed to be the most popular on the market in 2020 and this looks to continue into 2021 as the impact of Coronavirus remains. However Murcia's property market has been suggested to be the least impacted in Spain in 2020*, making now a great time to buy or sell in the area. 

With many expecting to be working from home for a while, or even swapping to remote working on a permanent basis, the significance of a central location is no longer as prevalent for buyers and tenants. Instead, the majority are looking for outdoor space to spend time with family, whether that be a garden, nearby beach or spacious patio area for a BBQ in the summer months. 
 
With the Spanish health minister ruling out another lockdown for now, it's a great time to ensure your property priorities are met. If you're looking for a larger villa or perhaps a more costal location please contact us below and one our friendly and professional agents will aid you. 
 
 

 * murciatoday



Your guide to understanding your property's value

 
If you are planning to sell or rent your villa, then it’s important to get an accurate estimate of how much the property could be worth.

To give you an agent's perspective of what that involves, we've provided some of the key take-away points below.


Market value

Firstly, knowing how much your villa is worth is more commonly known as its 'market value', which relates to the price a buyer is willing to pay when considering local and national market conditions.
 

What impacts the value of your property?

The value of your villa can be determined by a variety of factors, such as any recent changes to the property or your surrounding area.

Some of these factors may also include the size, location, amenities, condition and the asking price of similar villas nearby, so it's always beneficial to talk to a local agent with familiarity selling in your area.


The difference between market value and asking price

Valuing your villa accurately is one of the most important parts of the process.
 
Bringing your property onto the market with an asking price that is too low could mean you receive offers below market value.

Whereas if the asking price is too high, you may not receive any offers at all, causing time delays and market stagnation as the ideal buyers are put off a villa that falls outside of their price bracket.
 
So, whilst it can be tempting to instruct an agent based on who is offering the highest value, the risk of this is that you may need to gradually reduce your price anyway to reflect the property's actual market value.
 

How much could your villa really be worth?

The best way to see how much your villa is worth is through a combination of tried-and-tested
methods.
 
It's important to bear in mind that for the most accurate and up-to-date valuation, you should organise time with an agent, as an in-person appraisal will guarantee any recent developments to your villa are taken into consideration.


If you’re thinking about putting your villa on the market, book a valuation with our team today.
 
 
 



How to set achievable goals with your home

 
Setting New Year’s resolutions is a long-lived tradition, however, this year is set to be slightly different.
 
Due to the pandemic, goals – such as travelling the world – will have to be put on hold due to restrictions.
 
As a result, many people are looking for achievable goals and challenges closer to home, and renovating your villa is just one area of our lives we have the power to transform in 2021.
 
Here's how you can get started with your renovations...
 

Make a schedule

Before you get ahead of yourself and want to change everything in your villa right away, take a step back and create a plan you can stick to.
 
This will ensure you don’t take up too much time focusing on everything at once, allowing you to remain stress-free and organised.


Create a budget that doesn’t pinch every penny

Everyone loves to save money where possible, however, if your budget is too stringent, this could cause your goals to fall short.
 
When renovating, you want to aim for the grand picture in your head as much as possible, and penny-pinching won’t help at all.
 
Take the time to carefully save so you don't find yourself struggling unnecessarily, and focus on the little things that can be changed without too much expense.


Have goals that are measurable

When starting a project, it is natural to want to see immediate results.
 
Depending on just how much work is required, you might want to consider planning out key milestones that will signal when the next phase of development has been reached.
 
That way, you won't lose heart from any potential setbacks or delays.
 

Ensure you can’t forget your resolutions

Plaster reminders of tasks you need to complete all over your villa, meaning you can’t miss or avoid them.
 
Whether it’s a big A3 poster or a post-it note on the computer, this will keep your goals fresh in your mind.
 
For more property ideas or inspiration, talk to our team today about the renovations that add real value to your villa.