Yes, it is quite easy to buy real estate in Spain. Property purchasing is a simple process with easy-to-follow counted steps. We suggest working with a trusted real estate agent.
A professional advisor makes it easy to buy property sales in Spain. A real estate expert will be familiar with your concerns and guide you to find the best property.
Living in this gorgeous Mediterranean country is a lifelong dream come true. Sometimes it can be an intimidating idea when you think about legal procedures. Being unfamiliar with the legal system and the to-dos or not knowing the local language are the main concerns of foreign property buyers.
The professionals will lead you through the legal procedures without failures, and even finalize the process on your behalf. All you need to do is to lay back, choose your new home, and take the keys to your dream property!
We have prepared a guide including tips and steps for purchasing easy property for sale in Spain.
Tips for a Simple Property Purchasing Experience in Spain
It is pretty easy to buy properties in Spain. Yet, there are a few things you can do to shorten and simplify the process.
• Decide on your purpose
“Why are you buying real estate in Spain?”. This question will determine your motivation for the purchase. Your motivation should be in parallel with your purpose of usage.
This property can be an investment with increasing value. It can be a new home for you and your loved ones. It can become an income source from short or long-term rentals. You may be buying it for your business, or to build your property. But why is your purpose that important?
Real estate is a type of investment that requires a well-thought investment plan and a relatively big budget. You will be investing your life’s savings, your time, your lifestyle, and your dreams. It is important to determine your purpose to get maximum efficiency and satisfaction from your investment.
Your purpose matters because it will shape your wishes and necessities. These will shape your idea of real estate and your expectations of it.
• Be aware of your necessities and wishes
You have decided on your purpose. What’s next?
Knowing what you need and what you can get from a property. It will help specify the appropriate properties. You will save a lot of time by avoiding non-suitable options.
We suggest you prepare a wish list. This way you won’t waste any of your time or sources on incompatible options. The wish list should include details such as what you need on a property or what features you need to live comfortably.
You may even add another column for the extras. It can help determine what you wish to add in the future. The terms in this column should create multiple questions in your mind such as;
Does the garden have enough space for an optional pool or an outdoor sports area? Is there a possibility to add a greenhouse to your garden? Can you build an additional garage in the future? Is it possible to transform this property into a home office for your business?
Your wish list will allow you to visualize the changes you may want to do to your home in the long term.
• Determine the budget
Knowing the limits of your budget is important. You have to draw a line on your maximum budget. You may also need to decide on how much you can expand it when necessary. This way you will handle any situation well, without any disappointment, in case of an unexpected cost or bad surprises.
• Work with a trusted real estate company
What you can get from a real estate agent? What do they offer? How would they make it easier to buy a house? If you work with a trusted, established, and experienced company, buying real estate in Spain is a piece of cake!
Your real estate agent will guide you through the best options in the area. A professional real estate expert should be familiar with the local market.
You will be informed about the costs and additional expenses without encountering unwelcome surprises.
You will get legal support and your rights will be defended under the law. All of the legal procedures will be finalized on your behalf without any failure.
Not knowing the language is not a problem anymore. A professional company will have the best legal advisors who are speaking your language. You will be informed about all the aspects of the process.
As an overseas real estate company, we have professionals who are speaking 20 languages. You can sit back and enjoy buying your dream home with Spain Homes ®.
• Know your finance options
It is not the end of the world or your only option if you don’t have enough cash in your hands to buy your new home. Knowing your options to finance your budget will prevent any pickle.
Some construction companies allow people to buy a home with installments and flexible payment plans. Your real estate agent will offer you the best options to finance your budget.
You can also consider applying for a mortgage in Spain. The well-developed economical status of the country allows benefits from affordable interest rates. It is possible to have a loan from Spanish banks for up to 70% of the property’s actual value.
Did you know how easy is it to buy a house in Spain via cryptocurrency? You can pay the sales price of the property in BTC, ETH, USDC, or USDT. Buying your dream home with cryptocurrency through Spain Homes ® is an easy and simple process.
Simple Steps for Buying a Property in Spain
There are 5 simple steps to property purchasing in Spain.
When you decide to buy your home in Spain, your first step should be preparing a wish list. The wish list is an important compilation to match the most convenient properties with your lifestyle. This list will contain important details such as the location preferences, outdoor features, interior equipment, design, etc.
Your wishes and expectations will be your compass in this wonderful journey. It will lead you to your dream home in a short time.
Your real estate agent will present a selection of the best real estate options. After deciding on real estate you like, we will organize a viewing tour.
You will have the opportunity to inspect the features and spaces of the property during these tours. Our agents will answer all of your questions about the procedures and the property.
If you don’t have time to travel to Spain, you can easily attend an online viewing tour via TeleProperty ®.
Legal Consultancy & Situation Analysis
A lawyer will represent you and protect your rights as a buyer under the law. A legal adviser will shorten the process with a power of attorney to complete necessary procedures.
You can work with your lawyer or we can provide you with a list of names of trusted and experienced real estate lawyers.
All properties’ situation analyses have been made before we publish them on our website. The situation examination is plumbing the legal status relevant to ownership, debt analysis, lien status, and availability. In this step, your legal advisor and real estate agent will take a look at the documents and investigate the current legal status.
Sales Agreement & Deposit
The fourth step is paying the deposit and signing the sales agreement. This agreement is a binding document and must be signed by the seller and the buyer. Each agreement is unique and must be prepared to protect the rights of both parties.
The deposit payment must be made to withhold the property. It shows that the buyer is interested and will complete this purchase. The deposit is mostly determined as 5.000 €.
It is suggested to negotiate sales terms and refunding situation of the deposit in case of a cancellation. This will prevent any unexpected surprises and simplify the process.
Title Deed & Key Delivery
The next and last step is applying for a title deed. The legal procedures of property purchasing come into play here. You need to follow certain steps such as getting an NIE number and opening a bank account in Spain.
Your real estate agent will inform you about taxes and necessary documents for procedures. They might even provide the documents and finalize the process on behalf of you. The only thing left will be signing the title deed at the notary.
Congratulations, you are now a homeowner in Spain!
For more information about property purchasing steps in Spain, fill out the form and download your free guide from here.
Know Your Opportunities that Come with Property Purchasing in Spain
Did you know that you can get a resident permit, Golden Visa, or apply for Spanish citizenship by owning a property in Spain?
If you are planning to stay in Spain for more than 90 days, you may have to apply for a non-lucrative or long-term residence permit in Spain. Homeowners in Spain can apply for a non-lucrative residence permit first.
The non-lucrative permit is valid for 1 year. At the end of the first period, it can be renewed for 2 more years. This means this visa offers a 5-year residence in Spain.
After these 5 years, the resident can apply for a long-term residence permit. This permit is valid for 5 years.
After completing the 10 years in Spain, you can apply for Spanish citizenship as a homeowner. For more information, read our article “Residence Permit in Spain”.
The Golden Visa is a comprehensive visa program with extensive opportunities. It gives residence approval in Spain, travels between Schengen countries, and a work permit in Spain.
You will have the right to benefit from education and healthcare services, apply for Spanish citizenship, and be exempt from double taxation with a Golden Visa.
If you want to know more about how to get a Golden Visa, read our article by clicking here.
The next step: Citizenship. There are 4 ways to get Spanish citizenship: Marriage, descent, birth, and residency.
After living in Spain for 10 consecutive years with residence permits, you can easily apply for Spanish Citizenship as a homeowner. You can read our blog “How to get a Citizenship in Spain” for more information.
Buying a property in Spain is a simple process with trusted guidance. Your new home will open a door to a brand new lifestyle under the sun. Do not hesitate to contact us with any questions. The expert team of Spain Homes ® is happy to guide you through your beautiful journey.