How to proceed to buy a Country Property in Spain
If you are willing to buy a country property in Spain and build your dreamed country house we think that there are a few thinks you should know before going ahead with the purchase. We would like to share with you the first 5 top ten questions to start off; in the next days we will post more answer to you possible questions if you are planning to start a purchase in Spain.
Please see below the questions and the answers; if you have further questions about how to develop your project in Spain; please do not hesitate in asking.
Are there extra costs that i will have to pay when i purchase my property?
You will have to pay 7% of the value of the property purchased; this is called transmission tax, Spanish equivalent to the UK’s Stamp duty and is paid directly to the Spanish government. On a new build property you will have to pay 7% IVA (VAT equivalent) and 1% transmission tax. The Notary and the Registry fees are also paid by the purchaser and these fees vary depending on the size and location of the property purchased.
Can we book a viewing trip if we haven’t yet sold our property in the UK?
Of course, however it is important that you have some funds available for a deposit to reserve a property should we find the right property for you. What we do like to see happen is you spending your time viewing properties and then not be in a position to purchase.
Will i have to pay local rates and taxes?
The annual costs of owning a home in Spain are much lower than those in the UK, you will receive annual bills for the collection of the rubbish, mains drainage and annual rates bill (IBI), you will also be charged by monthly for water and electricity.
Will it be problem for the non-spanish speakers moving into such an area?
Oh no, there are many English speaking doctors, dentists, lawyers, architects etc within the area. At Country Property, we are Spanish English speakers who will help with any translation issues and concerns. To help you on your way many local types of council are providing free Spanish Lessons to the foreign community.
Can i make alterations to my property that i have bought, ie extensions and refurbishments?
Yes, this can be done however, you will sometimes need to obtain a project from an architect and submit plans to the local town hall for the building licence. There are two types of licences, one for Obra Menor (small works) where you won’t normally need a project from the architect and an Obra Mayor (major works) where you will need an architect project. We at Country Property will of course assist you with any introductions and the paperwork.
By Sandra Salvadó
Country Property manager.