Discover how to buy a home on the coast of Spain

In this guide, we will explain the process of buying a property. We will be by your side throughout the entire buying process, from choosing the type of property you need to moving day.

1 - Preliminary step before searching for a home

Types of Homes:

In Spain, homes may differ slightly from those found in Central or Northern Europe, so it’s important to understand the types of properties available on the coast.

Apartments:

Resale: These apartments are the ideal option for buyers who want to enjoy their new home immediately. The options vary, as you can find fully renovated properties or those that need some renovation. Apartments built before the year 2000 tend to be the most spacious.

New construction: Homes geared towards tourism, with slightly smaller spaces. Delivery times can vary, from over 6 months to more than a year.

Bungalows: These are small homes or apartments on the ground or upper floor. Here, you’ll find properties that may have their own plot of land or a private solarium.

Townhouses: These are small villas that generally have both front and rear terraces. In many cases, they include a private pool.

Villas: Detached homes with their own plot of land. Older ones often have lots ranging from 500 m² to over 1,000 m². For those who wish to live near the sea, it’s important to keep in mind that the plots may be smaller.

What do I want vs. What can I afford?

Asking this question before beginning the search is crucial. As with any investment, we must weigh the pros and cons and analyze what we’d like to have in relation to the investment we can make. The coastal real estate market has evolved significantly in recent years, which may create expectations somewhat different from today’s reality.

Essential requirements

After considering the previous point, it’s essential to establish the must-have requirements: the number of bedrooms (2 or 3?), the type of property, proximity to the beach or services, sea views, and whether a community or private pool is preferred.

Define a budget

One of the most common mistakes among potential buyers is searching for homes without first defining a budget. It’s crucial to have as accurate an estimate as possible of how much you plan to invest. This way, professionals in the sector can offer a selection of properties that match the budget.

Additional costs

To the final price of a property, VAT must be added, the percentage of which varies depending on whether it’s a new construction or a resale. For new builds, 10% VAT is paid, plus 1.5% in stamp duty. For resale properties, only 10% VAT is paid.

It’s also important to factor in the costs of lawyers and notary services, to ensure proper legal and fiscal advice when acquiring a property on the coast.

2 - Active search

In this step, we begin the active search for homes. Having the help of a professional real estate advisor can greatly facilitate finding the perfect home. This service has no cost, so why not take advantage of it?

Once we’ve found our real estate agent, a personal relationship begins with them. With the points from the first step clearly defined, the professional will begin the search for the perfect home. They will make an initial pre-selection of properties that best fit our needs and budget, sending all the necessary information and addressing any questions.

3 - Financial options

This section is aimed at clients who need financing to formalize the purchase of a property. The process of applying for a mortgage can be done simultaneously while actively searching for a property, allowing for a clear definition of the final budget and preventing the loss of the ideal home.

For those needing a mortgage, our real estate agent will be able to advise them on selecting the bank that offers the best conditions.

4 - Viewings

Once the pre-selection of homes has been defined and the mortgage pre-approval is in place, viewings can be arranged. The agent will coordinate everything according to the clients’ most convenient schedules.

5 - Offer

When the ideal home is found, the formal offer stage begins. As professional agents, we recommend making offers via email to document the buyer’s intention. The agent will contact the owner and present the offer. In case of negotiations, they will act as the intermediary to achieve the best agreement for both parties.

6 - Contract

With the offer accepted, the process of negotiating the purchase terms and signing the purchase contract begins. This document seals the agreement until the day of the deed signing, and at this stage, the payment terms and the final signing date are agreed upon.

7 - Signing day

On the day of signing the deed, the buyer, seller, notary, and lawyers gather to complete the property purchase. All the documentation is reviewed, and the signing takes place. At this moment, the buyer receives the keys to their new property and makes the final payment.

At this point, the dream of owning a home on the coast becomes a reality.

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