Buying

Once you have decided on a property, there are several points to think about. Just like buying a house at home there are costs involved and things to consider. None are arduous and your contact is there to steer you through the buying process effortlessly.

From the outset you should add around 10-12% to the purchase price to cover such things as stamp duty, Notary fees, electricity & water connections, and IVA (VAT).

Thinking ahead to when you will be living in Spain you should also take into account annual running costs. Apart from heating and lighting - which will be much lower than you pay now - there are some small taxes payable to the local authority to cover all the local infrastructure that you will benefit from. These taxes are based on the property/asset value and once again your advisor will help you with details.

 

'A FEW MORE THINGS TO CONSIDER'

Mortgages

These are widely available through companies at home as well as Spanish banks. It pays to shop around and work out what is the best deal and conditions for you. Do ask if you need help. We can help point you in the right direction.

Foreign Exchange

Exchange rates can vary dramatically, and this can alter the price you pay for your property. Please see our links page for details.

Insurance

Remember to insure your house from the day you complete. We can obtain insurance quotes for you. Various types of insurance are available to cover every aspect of house ownership and personal life, just the same as you have been used to.

Non-resident or resident

You may be looking at your investment to earn you rental income, or you may just want to use it as a holiday home. You may also be thinking about taking up permanent residence in Spain . With all these options there is the subject of income tax to be considered.

For tax purposes if you stay in Spain for more than 183 days in any one calendar year you become liable for Spanish income tax. You would however not be taxed in Spain and at home in the UK.

For all the points mentioned above you can rely upon your advisor who will open the right doors for you, ensuring that your time in Spain is well spent.

Our policy is to associate ourselves with only the highest calibre of builders and property developers.

The close working relationship we have established with them is based on trust and working closely alongside them to achieve the best for our customers.

Most developments have a show house on site where you can see the high standards of construction, workmanship and design as well as the choice of beautiful ceramic and marble finishes. We will help you with any questions about design or construction you may have.

In addition we closely monitor the progress of our customers' house builds, and our developers' websites allow you to view the construction progress on your property.

 

PROPERTY RENTAL
LET YOUR PROPERTY WORK FOR YOU

A Short Term Rental (to family and friends).You control the price, periods and tenants. There are three seasons - High (July & August) Mid (May, June and September) and Low (remaining months excluding Public Holidays.

B Mid Term Rental. For up to 11 months of the year at a fixed rental income possibly to prospective buyers looking in the area or those awaiting the completion of their own property.

C Short Term Commercial Rental. Let through a letting agency at an agreed commission and requires minimal owner involvement.

D Long Term Rental (Over 12 months). Requires you to comply with legislation and Sitting Tenants rights.

If you are specifically looking for a property to provide rental income this will affect the location and type of property you should be considering. A property based near to a golf course is more likely to gain you short term "out of season" rentals than one close to the beach.

Obviously your rental income will vary depending upon your requirements and level of involvement.

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