16 March 2011
Posted in Property Info

• Thinking of buying a holiday home in Golf del Sur?
• Finding it a confusing choice between purchasing a property within a community or purchasing a non-community property?
• Which is better and what are the differences?
• How could it affect my rental income possibilities?

We'll try to explain here...

With the financial crisis taking a firm grip on the world’s economy, it has severely affected the property market in Golf del Sur, Amarilla Golf and in the rest of Tenerife as you would expect. This however can work in your favour and provide an ideal opportunity. Purchasing your Tenerife property now can offer significant advantages as there are an incredible amount of genuine bargains in today's market.

In recent years, many UK residents have purchased a second home in Golf del Sur or Amarilla Golf, and some of these purchasers, feeling the pinch in today’s market, are deciding to sell their holiday homes. This has enabled the property market in Golf del Sur to have many villas, apartments, bungalows and townhouses available on the property market at greatly reduced prices. Today’s property market is full of bargains and should you wish a holiday home in the sun, then maybe now is the time to seriously look at purchasing your ideal Tenerife holiday home.

One of the questions you should ask yourself when thinking about investing in Golf del Sur property, is to examine the pro’s and cons of purchasing in a community based complex or in an independant property.

What is a Community Based Complex?

A community property is one where there are additional services provided as part of a complex. For example, a community will probably have one or more swimming pools, perhaps a gym, or even a spa or other facilities. There may be gardens and lighting that are part of the complex, but not directly part of your property. Car parking could be provided on site, and as you can imagine there would be much maintenance to be done, gardeners employed, water and electricity bills to be paid etc. These services and their costs are divided amongst all the owners within a complex. You, as an owner, will effectively be a shareholder in a legal entity that controls all of these communal facilities. You will have additional monthly charges for your share of the costs, but you also have to consider the benefits of all of these extra services. For example, someone looking to earn good rental income on their property will have a more appealing property to put into the Golf del Sur Rental Accommodation market if there are lots of additional facilities on site. There are many of these resort complexes in the area of Golf del Sur and Amarilla Golf, most with exceptional facilities. This is what makes the area great for an investment property, especially if you do wish generate rental income from your property.

On community based complexes, each quarter you will receive a bill from the community office and your community fees will be set based on whether you have a villa or apartment; how many total square metres of your property there are; and some additional factors. Gardens are taken into consideration as communities usually hire gardening staff or contract a specialised gardening company. If you choose a property in a complex with a large pool or even several pools, then each property will contribute to the upkeep of these extra facilities. If your favorite property is in a complex that has many other facilities like a gym or spa, then you have to accept that you and other property owners on the same complex will be paying extra for it. Buying an apartment in these areas can be also quite rewarding. Gardens and lawns are usually kept to high standards, pools are cleaned daily, and the community is responsible for the upkeep of all outside walls and infrastructure. This means that you only have sole responsibility for the upkeep of your apartment or villa. All other areas of the complexes are maintained by employees who are paid directly from your community fees.

Buying a Non Community Based Property

Buying a property outside of any of Golf del Sur's community based complexes usually means that you are purchasing a property in its own grounds. Typical of non community based properties would be a detached villa or maybe a townhouse with no additional on site facilities. With these kinds of properties you are responsible for the upkeep just of your property. You will have to cut your own lawns, look after the swimming pool if you have one, and do your own general maintenance - pretty much the same system as back home in the UK. Of course, you can hire a handyman to help you, but the costs will be entirely for your account. This is a cheaper option but can offer its own set of difficulties, especially if you are only here for a few weeks or months a year. Imagine if your Golf del Sur property is large and has big gardens and/or a pool, then the last thing you would want to do when you arrive in Golf del Sur for a holiday is to immediately set about all the maintenance jobs that have not been done while you and your family have been away.

Where to Buy Your Property

So you can see that much of this is a trade-off. If you want to let your property for holiday accommodation, then perhaps a community based property is for you. You can see that more rental income can be generated on a property in a resort with great pools and gardens. Whatever you choose, in today’s Golf del Sur property market, make sure you do some research before you buy. Many owners have bought apartments around pool areas, originally thinking that this was a good idea. A few months later however, perhaps being in your property during the busier holiday periods, you may realise that the swimming areas in these complexes can be quite noisy. It may be what you want... if you have children, you will want to keep them within sight when they are in the pool area, and a property facing a pool area may well be better for you if you wish to place your property on the rental market. As you can see, everything is a compromise that you can better make if you are aware of all the pro's and cons.

Your Perfect Golf del Sur Property

Many properties on Golf del Sur and Amarilla Golf are now available for sale, so take time in finding the right one. Look for something a little special that might not have been available a couple of years ago. Buying a holiday home in Golf del Sur should prove a great investment once the property market picks up, as Tenerife will be one of the first real estate markets to reap the rewards. Look at the facilities in and around your property and make sure that you are aware of this information. Your local estate agent can help you decide which property would suit your needs, as well as giving some more detailed information on costs to help you choose between a community based property or otherwise.

Rural and Village Property Around Golf del Sur

One option to look at, especially if you are on a lower budget, is to look at property close to Golf del Sur in the local nearby villages. Los Abrigos, which lies adjacent to Golf del Sur and Amarilla Golf, has many properties for sale. Most of these properties are non community based and do not have additional on-site facilities, such as gardens and pool areas, so yearly fees to look after these properties are quite low. If you want to long-let your Tenerife holiday home, there are many potential clients who work in the Golf del Sur resorts, but live in Los Abrigos. So long-letting can be another opportunity for receiving a rental income from your Tenerife property investment.

Rural villas and apartments are a good idea if you want to be away from the main touristic areas. Many rural properties around Golf del Sur can be much lower in price than property near the golf courses. But if you wish to receive an extra income by renting out your property to the short term holiday accommodation market, then you may find this more difficult to do with a rural property on a week to week basis.

Summary

Whatever your idea of a perfect property, make sure that you do your research and consider some of the points in this article. If you do buy an apartment, villa, townhouse or bungalow in Golf del Sur, make sure that it is the right one, not only for you and your family, but also for the purpose that you want it for...

• In a community or not
• Next to, close to, or away from pools, bars etc
• Private use, holiday rentals or long lets
• Apartment, townhouse or villa
• Capital growth or rental income
• In a resort or in the surrounding villages

Happy property hunting.

Article written by specialist property experts from Homes and Away with more than a decade's experience in Golf del Sur