Buying an apartment in Spain - Our best tips
Buying an apartment in Spain is a dream for many, whether it's for a holiday home by the coast or an investment in a growing real estate market. Spain offers a variety of properties, from modern apartments with sea views to charming accommodations in historical districts, all in a fantastic year-round climate. Here is a guide to help you navigate through the process of buying an apartment in Spain.
Why buy an apartment in Spain?
Spain is an attractive country for purchasing property due to its mild climate, beautiful beaches, and rich culture. Owning an apartment here allows you to enjoy the sun, sea, and a relaxed lifestyle all year round. The Costa del Sol, with cities like Marbella, Malaga, and Fuengirola, is especially popular among expats due to its sunny weather conditions and active expat communities. Whether you're looking for a holiday home, an investment, or a permanent residence, there are many options to suit different budgets and needs.
How to buy an apartment in Spain?
Buying an apartment in Spain is somewhat different from buying in other countries, so it's important to be well prepared. Here are some basic steps:
Find the right real estate agent: It is crucial to find an agent who understands your needs and can guide you through the entire buying process. In Spain, there are agents who represent the buyer and others who represent the seller, so choose an agent who can assist you all the way and speaks your language. Homenetspain offers a complete service, from finding the right apartment to completing the purchase and helping with any subsequent needs such as renting or renovation.
Find the right apartment: Once you have a clear picture of what you are looking for, it's time to start searching. Homenetspain has a wide range of apartments on the Costa del Sol, both new developments and resale properties. Tell us about your plans and what is important to you, and we will help you find the right area and accommodation.
Financing and budget: Before you start searching, it is important to have a clear picture of your budget. Spanish banks often offer loans to foreigners, but it may also be wise to explore the possibilities of financing through local banks.
Legal advice: Always hire a local lawyer who specializes in property purchases in Spain. The lawyer will assist you with due diligence, ensuring that all necessary permits and paperwork are in order, and obtaining a NIE number, which is necessary to buy a property in Spain.
Contracts and deposits: Once you have found the right apartment and secured financing, a reservation contract is signed and a deposit of usually €6,000 is paid. After the lawyer's examination of the property, the purchase contract is signed, and 10% of the purchase price is paid. The final payment is made upon delivery, when the purchase is formally completed with a notary.
Costs to consider: In addition to the purchase price, there are additional costs such as taxes (7–10% of the purchase price), notary fees, registration fees, and lawyer fees. It's important to keep these in mind when budgeting for your purchase. Contact us for exact details.
Why choose Homenetspain?
Homenetspain offers professional and personal service to anyone looking to buy an apartment in Spain. With long experience and a wide network on the Costa del Sol, we help you find the right property and guide you through the entire buying process. Our multilingual brokers, who speak English, ensure that you feel safe and secure throughout the entire transaction.
Contact us for assistance
Are you ready to realize your dream of owning an apartment in Spain? Contact us at Homenetspain for a free consultation and let us help you find your dream home on the Costa del Sol. We look forward to helping you take the first step towards a sunnier life!
