What Are the Running Costs of Owning Property in Mijas Costa?
In today’s Two-Minute Tuesday, Keith and Sophia from Target Property Spain dive into one of the most common questions property buyers ask: What are the running costs once I buy my property in Mijas Costa?
Owning a property in Mijas Costa comes with several ongoing costs that you should be prepared for:
- Community Fees: If you’re in an urbanization or community, you’ll need to pay monthly fees to cover the maintenance of shared spaces. This includes upkeep of communal pools, gardens, and other amenities.
- IBI (Impuesto de Bienes Inmuebles): This is an annual property tax paid to the local town hall. It is similar to council tax in the UK and contributes to the maintenance of local infrastructure.
- Utilities: Regular utility bills will include electricity, water, and Wi-Fi. While natural gas isn’t common in Mijas Costa, you’ll still have access to electricity and water. And of course, Wi-Fi is essential for most people today!
These are the key ongoing costs to consider when purchasing property in Mijas Costa. Be sure to budget for them to fully understand the financial commitment of owning a home in this beautiful area.
Key Takeaways:
- Community Fees: Monthly payments for shared property maintenance.
- IBI: Annual local property tax.
- Utilities: Electricity, water, and Wi-Fi bills.