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Where are you going to buy in Spain?

When purchasing a property do not allow your heart to rule your head unless there is someone there to hold your hand that you can trust.

A stunning view could be an expensive luxury that you may never enjoy if the property from where you see it is illegal or not fit for purpose. We will carry out, in conjunction with your Spanish lawyer, the necessary legal and fiscal checks to ensure that what you are buying is exactly what it says on the tin.

Before choosing a property you should first explore what type of lifestyle you want to enjoy. Do you want a holiday home, a permanent family home or a retirement home? The glorious views from a stunning villa on a remote hilltop are not worth a jot if you need to be close to work, schools and shops. That pretty town house in the centre of that picturesque village where they only speak Spanish may not be the bargain it seems if you are not willing or capable of embracing the Spanish culture and language.

The location and the amenities it has to offer is important but also important is the type of property you want to buy. Do you want an apartment, a town house or a villa? Do you want a private property or one that is located on a community. Then all you have to do is fit it all into your budget. There are numerous variables that effect your choice of property and we can help put them into perspective.

What about the costs of buying?

Costs of buying property in Javea.

Buying a property in Spain there are a number of costs and taxes over and above the property price that you will have to pay. Depending on whether you are buying a new property from a developer, or a resale property from a private individual, you will either have to pay stamp duty, vat or a transfer tax.

We recommend buyers to add at least 10% to the purchase price then all expenses are covered.

Here are individual costs of a property purchase, Stamp Duty, which is charged at 10% of the purchase price or 10% of the rateable value which will be multiplied by 3.7% whichever is the higher figure.

Land Registry Fee, Notary Fee and Admin of new Title deeds.

If you are purchasing Land or a Garage space directly from a Developer or Property Promoter the purchase may be subject to VAT and not Stamp Duty, the VAT is normally charged at 21%.

Mortgages incur extra expenses, Mortgage arrangement bank charge, Bank Survey and Admin of the new mortgage deed.

Other costs to consider, Life insurance, Property insurance, Solicitors fees and Property Surveys. Legal Fees.

You are strongly advised to hire a lawyer to help you during the buying process. Your lawyer drafts and reviews contracts on your behalf and can explain all the legal and administrative issues you face. Your lawyer should also carry out any necessary due diligence (checking ownership claim of the seller, charges on the property, permits, etc.) and arrange all the required documents to complete the process (property registration, tax payments, etc.). We can recommend one for you

 N.B. This information is a guide and is subject to changes and updates.