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.



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.
 
 
 



Why did virtual viewings surge in January?

Online property viewing activity continues to surge due to stay at home demands from the government.
 
It has also been noted within the sector that buyer behaviour has changed – perhaps irrevocably – to include an initial viewing stage.
 
Whereas initially a prospective buyer might select a number of properties to visit in-person, those decisions are now being made more and more commonly online, leading to property shortlists and speeding up how quickly it can take someone to find the right property for them by maximising exposure to the whole market early on. 
 
Now that those within the sector have had 12 months to respond to the pandemic, we've been able to make great advancements in virtual viewing technology as an industry, and this has seen virtual viewings reach a record high in usage of 850% throughout the beginning of 2021.
 
Potential buyers now have access to incredibly realistic ‘walk-through’ villa tours, giving them and sellers peace of mind with the sales process.
 
Ultimately, virtual viewings have provided protection during the pandemic, whilst maximising the exposure of properties on the market.
 
However, another bonus is the convenience and ease provided to all parties, as sellers find they no longer need to live in a constant state of 'showroom ready' conditions, and buyers can cut down on the amount of back and forth travelling across different areas to find the villa that matches their criteria.
 
To learn more about how we've adapted our processes to accommodate safer viewings and appointments, contact us today.


*Spec.



The top 10 scents to have in your villa

There are many steps you can take to help attract prospective buyers, including cleaning and clearing away clutter, but what you may not know is that certain scents could help showcase your villa and encourage buyers to put in an offer.
 
Three of five age groups agreed that the freshly baked bread scent wafting through the property not only provides comfort but also helps make your property more desirable.
 
Planning on putting your villa on the market?
 
Check out what other scents you could be using that will help sell your home and where you should have them.
 
 
Top 10 scents to have in your villa
 
- Freshly baked bread (38.6% popularity)
- Fresh linen (32.8% popularity)
- Coffee (28.7% popularity)
- Vanilla (18.8% popularity)
- Lavender (17.5% popularity)
- Fresh cut grass (15.7% popularity)
- Cinnamon (11.7% popularity)
- Chocolate (7.7% popularity)
- Blossom (6.8% popularity)
- Sandalwood (6.7% popularity)
 
 
Top scents by room
 
Living room – woody or oriental
 
Hallway – floral or oriental
 
Dining room – sweet
 
Kitchen – citrus
 
Bedroom – aromatic
 
Bathroom – citrus
 
Home office – woody or oriental
 
 
To start the process of buying or selling this month, contact our team today.
 
 



Home improvements to help boost your villa price

Whatever your budget, there are plenty of ways you can add value to your property before selling this year.
 
For inspiration on where to start, have a look at these improvement suggestions, ranging from high cost to low:
 
Conservatories or sunrooms – adding a conservatory or sunroom is one of the most cost-effective ways to add more value to your villa, with an estimated 6% uplift to the value of your property.
 
Updating your kitchen or bathroom – it is often said that potential buyers will look at the kitchen and bathroom first before they pursue a property.
 
Updating your kitchen or bathroom isn’t always the cheapest improvement option, but it is one that can certainly boost your value by a significant amount, with an average property value increase of 5.5%.
 
If this improvement option doesn’t quite suit your budget, but you still think these rooms could do with a refresh, replacing old worktops or cabinet doors is a fail-safe way to improve the overall look.
 
Updating old boilers and central heating – a new boiler or central heating system is a key element to consider if yours hasn’t been updated recently.
 
A dated or inefficient heating system could put potential buyers off, as this will result in more hassle for them after moving in.
 
Fixing a damaged roof – improving the core foundations and features of a property is always a safe bet.
 
A new or fixed roof is essential for both insulation and structural purposes, and – again – will save buyers from having to take on the task themselves.
 
Upgrading the villa to be smart and energy-efficient – energy-saving smart improvements are not only good for the environment but are also a great addition to have to add value to your villa.
 
This can be achieved by installing smart lighting, using energy-efficient LED bulbs, followed by upgrading to eco-friendly appliances, adding double glazing and upgrading insulation.
 
Creating a defined sunspot in the garden – a recent survey showed that properties with a south-facing garden could be worth up to £22,000 more than those without.
 
There’s not much you can do to change the orientation of your garden, but if you don’t already have a defined sun-spot, creating a zone for this will help potential buyers picture themselves living there and enjoying the weather and seasons to come.
 
Redecorating – decorating can make a world of difference to your villa, whether that’s a fresh coat of paint, updating wallpaper or installing new carpet.
 
It’s also important to remember to stay neutral and avoid any loud colours that could deter potential buyers.
 
Tidying up the front garden – the front garden is the first thing that welcomes people to your villa, so it's important to keep your garden up to scratch.
 
  
Before beginning any major project, it’s important to ensure that you are spending your money wisely and understand the cost versus the potential return you will gain.
 
Get in touch with us today to talk about your home improvement plans and get advice on what will make the most difference to your property's value.
 
 



Property sales and mortgage approvals up in Murcia

The latest monthly bulletin published by Spain's property registrars reports that during February, the number of residential sales and purchases registered in the Region of Murcia rose by a healthy 10.6%

Click here to read Property sales and mortgage approvals up in Murcia.