Buying a home is not a decision to be taken lightly. Anyone who is considering buying an apartment or house in Spain may have many doubts.
Therefore, we will cover everything that is recommended to know when choosing a home in Spain.
Be clear about your needs
Before you begin searching for a property in Spain, it is essential to know what you want and for what purpose.
It is best to make a list of some of the key features for you:
- Number of rooms.
- Square meters.
- Bathrooms.
- Yard.
- Common areas, such as swimming pools or gardens.
- Location.
- Nearby services.
Whether the purpose of the home is for residential use or for rent may also be a factor.
Once all the requirements that the home must meet are clear, it is time to make decisions and actively search for it.
New or second-hand housing?
The main differences between buying a new or second-hand home:
- Price per square meter. New construction is more expensive than second-hand properties.
- Taxes. For new homes, VAT must be paid, whereas for used homes, the Property Transfer Tax (ITP) applies.
- Market supply. There are more second-hand homes on the market than new homes, so it may be easier to find a used property.
- Location. New homes are not easy to find in the central areas of cities. On the other hand, second-hand properties can be found anywhere.
- Facilities and quality. New properties are much more attractive because they are modern and customizable. On the other hand, used housing may need renovations and interventions.
Choose the area
You may have a very clear idea of where you want your home to be located, such as in Alicante or the center of Seville.
On the other hand, you may be clear about the requirements that the place where it is located must meet:
- Nearby hospitals or health centers.
- Public transportation, such as metro and buses.
- Children’s play areas.
- Leisure areas.
- Close to the city center
- Near the beach.
- In a natural setting.
And there may be many other requirements depending on the preferences and needs of each family.
How to find housing in Spain?
Once you have defined the characteristics of the home, its intended use and the preferred area, you can start the search with greater clarity.
There are different options for searching for a home:
- Real estate agencies. They have specialized personnel who know the areas and have contacts with property owners. They can advise you and handle all the paperwork related to purchasing a home. The main disadvantage of this option is the cost, as they charge fees that can be quite high.
- Independent professionals. They also have extensive knowledge and can advise you in the best way. Compared to the previous option, the prices charged for this type of service are lower.
- Do it yourself. There are various portals where you can find many properties, locate them and compare them. Social networks can also be helpful. On the other hand, you can visit the area you are interested in and talk directly to the neighbors.
The main disadvantage of this option is the legal and tax aspects involved in the purchase and sale of a home, which you will have to handle yourself or find a professional to do it for you.
What to consider before buying a home in Spain
Once you have chosen the property you want, you will likely want to sign the purchase as soon as possible. However, we recommend doing the following beforehand:
- Visit the property. Although you can see it in photos, videos and through a virtual tour, there is nothing like seeing the property in person.
- Ownership and liens. The property documentation can help verify the owner and any liens it may have, such as mortgages.
- Technical Inspection of Buildings (ITE). Buildings older than 50 years must undergo this inspection every 10 years to ensure that everything is in order.
- Community of owners. Get firsthand knowledge of the common areas and the fees that must be paid for their maintenance.
- Town Hall. It is ideal to visit the town hall to confirm that all municipal taxes are up to date.
- Minimum value. Each Autonomous Community sets a minimum price for the sale of the property to avoid tax fraud. Knowing this information will also give you a reference for the fair price of the property.
When choosing a home in Spain, the first thing to do is to establish the needs and requirements that the property you are going to buy must meet. Next, you will have to decide whether you want a new or second-hand property, the area and how you plan to conduct the search. Before signing the purchase, it is best to carry out some checks.
Further information
This article is part of our service Real Estate Lawyer in Spain. Visit this section where you will find all the useful information on this topic, including a complete guide on How to buy a house in Spain.
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