BUYING A HOUSE IN SPAIN

Buying a house in Spain is a perennial favourite with buyers from various different places and the most popular for people from the UK as 27% of British people's second homes are in Spain. The days of picking up a bargain in Marbella or the coastal Costa del Sole are over but there are still bargains to be had on other parts of the Spanish coast and inland Andalusia.

Buying a property in Spain can be a good investment if you choose the right area and the guaranteed hot summers and mild winters together with the beautiful historic cities throughout Spain make this a wonderful country to holiday, buy to let or live in.

There are many real estate companies that have cheap houses for sale. Cheap properties are still around so contact some of the many estate agents on the internet and buy your home in Spain now.

You are not only buying a home in Spain, you are buying a lifestyle.

 
Guaranteed sunshine, miles of glorious sandy beaches and wonderful food, makes Spain an ideal place to live. Spain has something for everyone, beaches for sun lovers, miles of unspoilt tranquil country areas, mountains and seas for sports lovers, sophisticated cities and nightlife, superb wine and food and plenty of art and music for the cultured.

The coastal towns are the hottest in summer whereas if you go for a 20 minute drive higher in the Andalusia hills the summers are a few degrees cooler and you can get more of a bargain. If you want a house, you will get more land and a garden but if you go for the more popular coastal choice of an apartment then security is the advantage. All come with a pool because no-one would be expected to live in Spain without a pool to dip in.

Although there are many areas that are still very rurally Spanish, the British people have much more choice of foods to buy in the more tourist areas. Until we are acclimatised to the supermarkets and how to cook tapas, there are for sale, most of the brands that foreigners are familiar with in their own countries. 

 
  If you are buying a property in Spain it is important to know whether you can afford to buy the type of property you have set your heart on, at the price you can afford, in the area you prefer. Prices have risen in the last five years, from 1997 to 2004  rose by a whopping 150%, and the previously affordable areas are now much more expensive. There are fees of around 10% when buying a property in Spain that you should take account of which pushes the up the purchase price. The alternative is part-ownership, leaseback or timesharing.

Before you decide to buy a house in Spain you must check whether you need a visa or residence permit (permiso de residencia). Foreigners are allowed to buy, but cannot remain in the country for longer than three months in succession without having a residence permit. You are required to carry your residence permit at all times as this constitutes as an identity card and Spanish people must carry this card by law. There have been many people, particularly from the EU, living in Spain in past years without legal papers to stay, but this is a dangerous practice and illegal.

Medical bills in a foreign country can be crippling unless you are careful. Spain has a good medical system, staff are highly trained with the latest equipment. There is a public health service in Spain, if you are contributing to Spanish social security but otherwise you must get private insurance, if fact you will not be issued with a residence permit without it.

It is important when buying a house in Spain that you get a qualified lawyer, one that is member of the provincial lawyer's association (Colegio de Abogados) and is  recommended by someone you trust. It is common to be overcharged and get bad advice if you pick a lawyer at random but the rule is, do not sign or give any money to anyone without having the paperwork translated into the language you understand. You wouldn't do this in your own country, so beware.

If you are looking for information on buying a house in Spain, the following links may also be of interest to you:

 

There are a variety of fees payable when you buy a home in Spain which can add 10% to the purchase price. Fees were traditionally paid only on the declared value of the property rather than the actual cost and this caused unscrupulous people to declare a really low amount to reduce costs. There are severe financial penalties if anyone is caught doing this.

Value added tax (impuesto sobre el valor anadido/IVA) is levied at 7% for new properties (including swimming pool and garage), it is 16% for building land without planning permission granted, and 7% on agricultural land. If a swimming pool and/or garage are built after the house then a 16% tax bill is paid. There is also a Legal Document Tax, Land Tax, Notary's Fees, Legal Fees, Deed Registration Fee, Surveyor's Fees, Selling agents fees, Utility Fees and running costs to take account of. Not all of these fees are paid on every property but it is worth knowing that they exist.

There are several types of property available to buy in Spain. Apartments and flats (apartamento or piso):These are the most common living accommodation in Spain and the majority of Spaniards live in this type of property. The size varies from tiny studio to massive marble floor executive apartments with all the latest technical equipment.

Townhouses (casa adosada):These are generally terraced houses often set in communal gardens and sharing a pool. Townhouses are very popular in big cities, they are usually three floors high including a basement, garage and storage and normally form part of a community.

Villas:The Spanish don't usually live in this type of property, these are solely for the foreigners complete with pool and communal gardens.

Country Properties (fincas): This could mean anything from a ruin to a farmhouse and are less common in Spain. They are the chance to live in the real Spain with large plots of land, fruit trees and olive groves. As you would expect, these properties cost a lot more if they are are already modernised.
 
Try searching on the Internet for "information of buying a house in Spain" and you will be amazed just how many pages are on offer. Try it for yourself by hitting the search button below!