What do you want?
- Do you want to live inland or on the coast?
- Do you want town, village or in the middle of nowhere?
- Do you want house or apartment?
- Do you want old or new?
- Is having lots of land important to you?
- Can you drive, or do you need to be near to public transport?
- Do you want to be 5 mins, 30 mins or 1 hour away from a beach?
- Is being near a golf course important?
Once you have found your dream home...
The following costs have to be borne in mind, this list is for guidance only.
New construction 7% IVA (VAT) of the contract price (land purchases IVA IS
Resales attract 7% of the declared value. This is called Transfer Tax ( stamp
Also Legal fees approx 1% Land Registry / Notary Fees 1% and Title Deeds tax
is .5% of the declared value. Plus Valia tax (this is a tax on any increase
in land value) varies and may not even apply.
We cannot stress enough the importance of employing the services of a good
Spanish lawyer. As in the UK it is the diligence of such professionals that
ensures that your purchase is free of any mortgages, charges, debts or other
liabilities, and that the purchase goes ahead efficiently.