Well first you should consider what kind of property you are looking to purchase. In which location? How many bedrooms do you need? Do you want a garden or a swimming pool? How many months of the year will you spend there? Do you want to rent it out while not in situ? How much is your budget? How soon do you want to move? Even why do you want to move to Spain in the first place? These are the kinds of questions you should be asking yourself - and more. Write down a list of all the things you need and want from your Spanish property and create a clear a picture as possible. This will help you break down the assessment process into specific searchable criteria. Buying a Spanish property and moving to Spain can be a straightforward process if you go about it with a defined goal and defined guidelines and are a European Economic Community (EEC) national. Residents outside the Eurozone will face stricter guidelines and experience limits as to how long they can remain in the country. You should also be aware that attributed property purchase costs can push up your bill to over 10% of the actual purchase price. Purchase prices typically include the estate agency fee (around 3% to 5%). An additional 8% of the purchase price must be paid as a transfer tax to the Spanish Treasury for all property and land sales. Plus there are further notary fees and registration fees which vary according to the value of the property. You should also factor in costs such as solicitors’ and mortgage fees. Solicitors typically charge 1% of the purchase price plus 18% VAT. Working with an experienced, professional agent such as Area Blanca will remove some of the legwork for you, but we always recommend you complete your own due diligence on every aspect of your property purchase and relocation. This can include seeking advice from independent financial advisors, legal specialists and Government departments.
