Costs when buying Real Estate in Spain
What things do you need to consider when buying real estate in Spain in terms of finances? You should assess your financial capacity not just in terms of home buying but also from the point of processing the transaction. Thus, in addition to the money that asks the seller you will have to pay more:
1. Notary. Regardless of the location of the Real Estate in Spain, the notary will be around 600-800 euros for the service. Each copy of the contract of sale will cost an additional 30 euros. If the mortgage is issued, then the costs will be approximately the same.
2. The registration in the Register of the property depends on the value of the property, its category (budget 0.3%, elite 0.1%) plus tax.
3. The payment of local and government fees is a sole responsibility of the buyer, except for the tax on the increase of the purchase price. This item of expenditure is assigned to the second side.
4. The payment for the manager services. Any significant transaction is better to hold in the presence of the experts. Buying a home abroad is no exception. The services rendered by employees of Ibizahouserentals, the Real Estate agency in Spain, guarantee that the funds are worth to spent, and as a result will save your money and ensure peace of mind.
The primary and secondary housing market
If you purchase the property from the secondary market, then it has a so-called transfer tax. Each establishes its autonomy on an individual basis. The average index is 9%.
In terms of taxation, the apartments in new buildings will cost more. It is 10% of the floor space. Additionally, you have to pay a special fee for the documents for the new facility. It is calculated as 1- 1.5% of the sale amount.
There are also tax benefits for some categories. All these details are well-known companies specializing in Real Estate for sale in Spain. Their aid is always urgent because the Spanish legislation allows changing the rates almost every year.
It makes sense to engage the assistance of specialists when you make a mortgage loan. It is available for foreign citizens but you will have to overcome a lot of difficulties. In addition, you will have to pay the appraiser and the bank commission. Ibizahouserentals is the guarantor of the most competent budget execution of purchasing the Spanish real estate.