LEARN ABOUT THE PROCESS OF BUYING A HOME

When visiting a property you love and decide to buy it, it's important to be aware of the necessary steps and associated expenses. Before purchasing, it is mandatory to obtain the NIE (Foreigners' Identification Number), a process that we can manage for you.

Purchase and sale expenses usually represent around 12% of the value declared in the Public Deed. These include registration in the Land Registry, taxes such as VAT (for new homes) or ITP (for second-hand homes), as well as notary fees and Stamp Duty.

After buying a property, the expenses continue with the payment of the IBI (Property Tax), which is based on the cadastral value of the property, and the collection fee for belongings. In addition, as a non-tax resident, you must pay the IRNR (Non-Resident Income Tax), calculated on the cadastral value and the capital gained.

If you decide to sell your property, you must take into account taxes such as the Municipal Capital Gains Tax and the calculation of the capital gained, as well as the commission of the intermediary agency, usually around 5%.

Remember that, in addition to these expenses, you may need the services of a lawyer or advisor, as well as urban planning certificates. If you have any additional questions, don't hesitate to contact us!

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