So you’re thinking about purchasing a holiday home, or maybe even emigrating to Spain, but you’re a little unsure as to what the big move might involve. There’s no need to panic, this quick and simple guide should tell you everything you need to know about the Spanish property market.
Finding Suitable Accommodation
First things first, if you’ve been dreaming of the perfect european abode for quite some time, what’s another couple of months? It is vitally important that you have a good look around and choose your location wisely, the last thing you want is to end up in a property that disappoints.
It is often wise to seek the assistance of an Estate Agent when browsing for properties in Spain, as having an expert on board from the beginning can lighten the load considerably, leaving you able to relax and enjoy your viewings. Also, Estate Agents are well connected and can often direct you to properties of the like you might not otherwise come across.
Examine, Examine, Examine
Upon first impressions some homes may seem perfect for your needs, however, in the long term this is not always the case, so it is extremely important that you spend a considerable amount of time and inspecting every nook and cranny. It may also be worth paying for a professional survey on the property if you are seriously considering buying.
The Planning Stage
Many immigrants to Spain choose to purchase their property at the planning stage. This often allows for impressive discounts and, as you will often pay in installments, ensures you won’t get ripped off. If you’re not happy when the home is completed, you can simply refuse to pay your last installment until the property is bought up to spec – a great tool for leverage. Although this option isn’t for everyone, if you’re on a budget, you really can’t go wrong.
Signing On The Dotted Line
The moment you sign the purchase agreement, both you and the seller are committed to the deal, so it may well be worth getting an English lawyer to look over the contract, but this isn’t essential. Although housing deals are usually notarised, when no mortgage is involved, the agreement if often concluded in a private document without the need for a notary, and this can obviously speed up the whole process, but be careful, as any purchase agreement is enforceable by Spanish Law.
Paying Your Taxes
Before you buy your dream home it is important to remember that various taxes must be paid on property purchases, and these taxes could well lower your budget significantly. If you’re buying a new home, you must pay value added tax (VAT) to the seller, and if you’ve chosen an older property, although the value added tax is dropped, you will be asked to pay transfer tax, which will usually work out to around 6 or 7% of the property value.
So now you know the score, hopefully you’ll be better prepared to make the right decision.
Popular How To Guides
How To Quit Smoking
The part season is done, and this means you have no reason to drink your week allowance in one night...
How To Get Started With Investing
One way that your money can be invested is through building a portfolio of shares. This can help to accelerate...
How To Tips For Breaking Up With Your Significant Other
Making the decision to end a relationship is not easy. Even if you are completely sure of your decision, the...
How To Improve Your Sleep Patterns
If you are having a difficulty getting to sleep and constantly waking tired and fatigued from yesterday’s strain, it is...
The Benefits of Indoor Fountains
In the past decade, indoor fountains have taken off. There are so many types to choose from and they come...
How to Search on Google Like A Pro: 32 Amazing Tips
Over the course of the past decade, Google has transformed from a small company to a full-fledged technology giant. Although...
How to Start Enjoying Greyhound Racing
Greyhound racing remains popular throughout the UK, Australia and across a number of US states with fans of the sport...
The Benefits Of Selling equipment at Auction
Selling equipment via auction is a smart way to get a good price for your items quickly. Here are some...
Business3 years ago
5 Things You Must Consider Before Starting A Construction Company
Cars & Vehicles3 years ago
How To Deal With A Driving Offence (Quick Tips)
Non Featured1 year ago
How To Get Into A New Sport: 10 Inspiring Tips
Games / Video Games1 year ago
How To Connect a Mouse and Keyboard to Your PlayStation 4
Fun1 year ago
How to Survive a Zombie Apocalypse
Cleaning5 years ago
How to Make a Shower Tray Look Like New
Business4 years ago
How to Make Your Own Mini Conveyor Belt
Home Maintenance & Repair4 years ago
How To Build Your Own Fitted Wardrobes