No matter how large the investment, buying a home on the Costa del Sol doesn’t have to be a hassle. Aim for a smooth transition throughout the procedure to ensure that you have a pleasant journey free of detours.
Buying a home in Spain may be an enjoyable experience provided you have the appropriate information and work with skilled professionals. When you own property in the United States, you’re making an investment in your own future. If you’re looking for a place to spend time with your family or as an investment vehicle to help you make money from long-term or seasonal rentals, you’ve come to the right place. Before you opt for the Costa del Sol property for sale you should know this:
To begin, choose the best real estate agent possible.
With hundreds of real estate agents to pick from, it’s no wonder that the Costa del Sol has a bustling real estate market. It’s true that not everyone can provide the high level of service that comes along with such a significant financial commitment as home ownership.
Find the best financing option for your needs.
For those who are considering purchasing a house in southern Spain, financing may be necessary. Non-residents may easily get a mortgage and have a wide selection of possibilities from which to pick. Take a look at a wide range of products. Consider all of your alternatives carefully before making a decision. If your situation warrants it, most competent real estate agents have a working knowledge of some of the best mortgage options available. Consider the fact that securing a mortgage may take some time, so prepare accordingly. Ask your lawyer to make it clear in your purchase agreement that the purchase is subject on obtaining a mortgage.
Step by step, identify the process.
Buying a home in Spain is much like buying a home in any other country, and Spain is no exception. Before moving on to the next step, be sure you grasp the process and all of its implications. On the Costa del Sol, you may buy a property by following these steps:
A reservation fee must be paid after you have decided to buy a house in order to withdraw it from the market. In order to ensure that everything is in order, your attorney double-checks the paperwork.
All the terms and conditions of the transaction are laid out in a purchase agreement drawn out by your lawyer (for example, furniture and fixtures). In order to secure the vendor’s services, both you and the vendor sign a contract and pay a deposit together (usually 10 percent of the purchase price).
Be on the lookout for additional charges, such as taxes.
In addition to the purchase price, there will be other charges and taxes to consider. You should expect to pay between 10% and 13% of the total purchase price for one of these things in Spain.
Find out as much as you can about the Brexit process.
As of January 31, 2020, the United Kingdom will no longer be a member of the European Union, however a transition period will last until December 31, 2020. No matter how long it takes for the final details of Brexit to be worked out (such as British citizens’ ability to live and work in Spain), Brexit has had no effect on the purchase of property on Spain’s Costa del Sol.