GUIDE TO BUYING PROPERTY IN SPAIN
Preparing Your Search
Before you start thinking about buying property in Spain, take the time to determine exactly what you want. Are you looking to move to Spain, are you looking for an investment property or just a holiday home for your own use? Whatever you are looking for, at BROHMS Investment Properties we have a wide range of properties between which you can always find a home that meets your requirements. If we do not have your dream home in our offer, we will search for you through our network of collaborating partners.
At BROHMS we offer you personal guidance throughout the entire process, whether it is buying, selling, building, renting or letting a property under the Spanish sun.
We work close together with lawyers, architects, engineers, and building contractors so that we can help you in the best possible way at all times.
Before buying a holiday home or a second home property in Spain, you need to determine the budget you want to spend on it. Keep in mind that there are about 13% fees on top of the purchase prices you will find on websites and brochures. 10% transfer tax on the purchase of a second-hand home or 10% VAT on the purchase of a new-build home (this percentage may vary regionally).
For lawyer, notary fees and registration in the land registry, you must take into account about 3% of the purchase price. If you take out a mortgage on the house, the closing costs are 2% of the mortgage amount. If you are going to build off plan, the costs for the building permit are approximately 2.5% of the value of the house, as determined by the contractor.
As a general rule, you should expect an additional 13% over and above the stated purchase price to cover the various taxes and legal fees, or 15.5% if you need a mortgage.