Costs when buying a property in Spain14.02.2018
If you buy a property in Spain, you have to take into account 13% additional costs, the costs of the buyer. The cost of buying a property in Spain consists of 10% B.T.W. and 3% other costs, such as tax, notary, register, land registry, stamps etc. In the case of existing buildings, the cost of copper percentage is also approximately 13%. You then have to deal with a different distribution of costs (including transfer tax instead of B.T.W.)
Breakdown of Costs when buying a property in Spain
- Transfer tax (ITP / IVA): 10%
- Legal / attorney fees: + -1% (varies from lawyer to lawyer, but this is average)
- Notary and registration fee: + -1%
- Mortgage costs (optional if applicable): 1-2% (varies and depends on the mortgage provider)
If you only buy the land first and have a house built on it then very different percentages, rules and costs apply when buying a property in Spain. In some cases, a different B.T.W. percentage calculated on additional options you choose, such as a swimming pool, garage etc. We will be happy to inform you about this, tailored to your personal situation.
A lawyer can perfectly map the costs of buying a property in Spain.
In Spain it is customary to use the services of a lawyer in the purchase process. The lawyer provides a number of items, including the application of NIE numbers (a kind of social security number that is required when purchasing Spanish real estate) He also checks whether everything is legally in order, checks the purchase contract and goes to the notary. lawyer can advise you on all sorts of matters, such as whether or not to make a will for the property in Spain.
It is your own choice whether you want to involve a lawyer at the time of purchase, it is certainly not an obligation. In most cases we can refer you to a Dutch-speaking lawyer. Counseling by a lawyer is not free, but the costs are rather limited and in most cases fall within the aforementioned costs when buying a property in Spain.
Because we only cooperate with reputable construction companies, we can guarantee the homes we sell, but an extra check by a law firm is an extra security for you and for us that gives a good and safe feeling.
MedVilla Spain has a wide range of properties in Spain where we always make an estimate of costs when buying a property in Spain
Of course you do not only have costs when buying but also fixed costs after buying a house in Spain