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cost of maintenance for a holiday apartment

Posted: Mon Jun 29, 2020 1:15pm
2 replies106 views4 members subscribed
ELVIRA

Posts: 18

4 helpful points

Location: Es Mercadel

Joined: 17 Apr 2018

Hi !  Having lived in Menorca and now back in the UK I am looking perhaps to buy a small apartment for myself for holidays (not to let out)...but am concerned about security and maintenance whilst I am away ….anyone have any ideas about who they employ to look after the security etc and roughly how much it costs, plus the annual charges for buildings insurance, maintenance of the block, etc ?  long shot but a rough idea would be helpful …….Bonin Sanso can offer such things but I dare say they would be at a greater cost ?  obviously concerned also that after the finalisation of Brexit I would have no access to the EHIC ...but would I still be able to use my Spanish driving licence or change it, as in France soon, for an International Driving licence ???  thanks

Ianrhammy

Posted: Sun Jul 5, 2020 11:38pm

Ianrhammy

Helpful member

Posts: 119

56 helpful points

Location: Addaia

Joined: 29 Jul 2019

Posted: Sun Jul 5, 2020 11:38pm

It just depends where you want to buy. If you buy on an established complex, or 'comunidad', such as the one I have owned for 34 years, then the annual maintenance charges could be around E1,200 a year, plus electricity, water, painting, etc. Add on local taxes, solicitors' fees etc. I reckon it costs me around E2,500 to run my 2 bedroom apartment. You also need to factor in ad hoc costs - new water tank, etc., etc. I love Menorca and wouldn't want a second home anywhere else. The costs seem pretty reasonable to me, but obviously escalate if you have a detached place with own pool.

ELVIRA

Posted: Mon Jul 6, 2020 12:24pm

ELVIRA

Original Poster

Posts: 18

4 helpful points

Location: Es Mercadel

Joined: 17 Apr 2018

Posted: Mon Jul 6, 2020 12:24pm

Ianrhammy wrote on Sun Jul 5, 2020 11:38pm:

It just depends where you want to buy. If you buy on an established complex, or 'comunidad', such as the one I have owned for 34 years, then the annual maintenance charges could be around E1,200 a year, plus electricity, water, painting, etc. Add on local taxes, solicitors' fees etc. I reckon it ...

...costs me around E2,500 to run my 2 bedroom apartment. You also need to factor in ad hoc costs - new water tank, etc., etc. I love Menorca and wouldn't want a second home anywhere else. The costs seem pretty reasonable to me, but obviously escalate if you have a detached place with own pool.

Thank you for the answer !   As I said, I l!ived in Addaya (but that was a nice villa with a pool) before we moved to France ….but when my husband died last year I decided to buy a retirement apartment so I could travel and leave a property secure ….big mistake ha ha  it is supposed to be for over 55's ;independent living' but is more like a care home !  So I bought two chalets on a holiday park ...one for me, one to rent out ...and planned to travel in 2020 (had three holidays and four short breaks cancelled ! (like everybody else !)…...but cannot decide whether to buy an apartment back in Menorca, or a small house here to rent out …...I suppose spending lots of time on holiday in Menorca would be less of a hassle than buying an apartment …...I have a few weeks booked which I HOPE I will be able to use by late September and meanwhile I will consider my options !  Will have a look around whilst I am there …..don't think I would live back permanently again with the cost of what may well be private health insurance after the S1 is no longer valid ….and other possible changes to the Residencia …...thank you for the input !

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