Buying your dream home on the Costa Blanca is a big step in life, we try to inform you here, so you get an idea of what applies when buying.
In Spain, used homes are sold in "existing condition". As a buyer, you are responsible for carefully examining the home before you sign the purchase contract. Departures from this shall be conditional on the purchase contract. It is wise to use external expertise and we can recommend several experienced technical architects.
In addition to the purchase price, you should expect about 13-15% in additional costs.
In connection with contract writing for a second-hand sale, you as a buyer must pay a down payment. Normally, the down payment is 10% of the purchase price. The final payment is usually made on the day of entry.
If you instead decided to buy new production, a reservation agreement is made with the developer, where you pay a reservation fee of 3,000 - 6,000 €.
The price we state is the price the seller accepts. If you are willing to pay that price it will usually be a deal.
You cannot take a loan in Sweden with the Spanish property as collateral, however, you can borrow property in Sweden to buy the property in Spain. You can also borrow money for the purchase of the Spanish home in Spanish Bank, we cooperate with Sabadell in Torrevieja or at Ny-Kredit in Denmark which is another option. It is possible to borrow up to 70% of the sales value, which is usually the mortgage value
In cooperation with the law firm Javaloyes - Suarez - Border, they handle the entire formalities with Contract Contract, Non-number one tax identification number, contacts with the bank and the Notary to sign the deed. The law firm helps you to open a bank account in a Spanish bank for payment of the running operating costs via direct debit.
The Notary is an officially appointed lawyer with responsibility for checking the seller's and buyer's identity. The notary informs about any debts linked to the home, ensures that the payment is correct according to Spanish law and that it has reached the seller before the agreement is signed. The notary also establishes the purchase letter that forms the basis of your legal application.
The race is registered in the country register, which takes about 2-3 months. Once it is registered and all taxes and fees are paid, you will receive it back with the registration certificate.
You pay no property tax in Sweden at the Spanish home, but in Spain you pay a municipal property tax based on the tax value. The tax rate varies between different municipalities and is between 0.4-1.1%. You also pay a state property tax of about 0.25-0.5%, which is also based on the housing value of the property.
The operating costs of your home in Spain depend, of course, on the type of home you bought and how much you use it, but the total operating cost of a two-bedroom apartment usually is between 1,500 - 2,000 SEK per month. The cost includes, among other things, community tax, electricity and water, home insurance premium and property tax.