Buying off-plan/new build - These properties for sale in Spain are purchased on the basis of seeing a development plan or show home. Payments for new build Spanish property for sale are made in instalments, with final payment after taking possession of the finished building.

Resale Properties - The advantage of resales is that you can see the finished property for sale in Spain. Moving in could be as easy as buying furniture and arriving with your luggage. It could be even easier as quite a number of resale Spanish property for sale are sold fully furnished. However, if the property for sale in Spain requires a lot of work consider the maintenance or replacement costs. There are plenty of English speaking handymen; the local English language papers in the region have adverts. Budget realistically for the cost of 'doing up' a whole property for sale in Spain.

Urbanizaciones - Simply means housing estates. Spanish Property for sale on urbanisations are convenient, easy to purchase and you have no worries about maintenance. There is usually a communal swimming pool with the Spanish property for sale so you do not have the worry of pool maintenance. However, there will be community charges and there may be inflexible and restrictive community rules so check them out before you purchase this type of property for sale in Spain.

Villas - Detached Spanish property for sale, purpose-built holiday villas. You'll pay more for a detached villa property for sale in Spain than for a house of equivalent size and comfort on an urbanisation.

Apartments - This property for sale in Spain is often built as holiday homes and they are the easiest places to rent out.

Town and village houses - Small inland towns and villages have a lot of Spanish property for sale but these usually have limited outside space. The size of this type of property for sale in Spain can be quite deceptive and older houses may require new work with regard to wiring and plumbing.

Fincas - A plot of land or smallholding in the countryside (el campo). Spanish Property for sale advertised as fincas can run from tumbledown farmhouses to lavish modern villas. Fincas generally come with a large area of land, which may include olive groves and fruit orchards. This is a very popular type of property for sale in Spain.
Living In Spain

Becoming a Resident
If you are buying a Spanish property for sale and intend to spend more than six months in Spain you need to apply for a Residencia. Being a resident has many advantages i.e. lower taxes and if you don't become a Resident, you must appoint a fiscal representative.

Fiscal Representative
Once you have bought a property for sale in Spain, if you do not become a resident, this is a person to whom the tax authorities can send all correspondence relating to your affairs in Spain. The fiscal representative must be resident in Spain, but it is for you to choose whom to appoint. It can either be a friend, a neighbour, a lawyer, or your tax adviser.

Gestor
For day to day management of your affairs in Spain it is advisable to appoint a local 'gestor'. A gestor can assist you with applying for a "residencia", work permits, licences and permits in connection with theng of new businesses, pension payments, national insurance and other related matters

Banks
It is necessary toa bank account in Spain to purchase a Spanish property for sale; you will need one to have your home running costs dealt with through direct debit. Choose your Spanish bank carefully as running costs vary considerably between banks. We can advise you on this.

Insurances
Fire insurance is compulsory by law when taking out a mortgage for your spanish property for sale. Comprehensive household insurance is available to protect your home and contents. Life insurance can be taken out to guarantee payment of the loan in the case of death

Health Care
National Insurance in Spain is excellent. If you are non-resident and have the necessary E111 form from the UK you will be able to receive emergency medical treatment free of charge.

A Spanish Will
Property for sale in Spain is subject to Spanish laws, so it is strongly advised that you make a Spanish will, which costs approximately 200 euro. Your solicitor should be able to advice you on this point.

Schools

The standard of education in Spain is excellent. There are two options:

International Private Schools
All of these establishments offer tuition in English. The syllabus follows the English school curriculum to GCSEs and A levels. These are all fee paying.

State Schools
More and more ex-pats are deciding to integrate their children into the state schools where the standard Spanish curriculum is taught. This will give your children an excellent opportunity to pick up on the Spanish way of life very quickly.

National Association of British Schools in Spain

Cars And Driving

If you become a Spanish resident it is illegal for you to drive anything but a Spanish registered vehicle. It is possible to transfer foreign registered vehicles onto Spanish registration plates, but only if the vehicle is left hand drive. If you intend to live and work here you are strongly advised to buy a Spanish registered vehicle as soon as possible. You will need to make sure that you have all your documents, including your driving licence, with you at all times when driving in Spain.

Living Costs

Urbanizacion and Community Fees
These cover the running and maintenance costs of shared facilities of the spanish property for sale which can include private roads, drains, lighting, private water supplies, gardens, swimming pools etc. These costs vary considerably and are controlled by a committee of owners.

Local Rates - Patrimonia
All non-residents have to pay wealth tax, 'patrimonia', based on the amount on the escritura publica (title deeds of the property for sale in spain) or the valor catastral (rateable value), which ever is the highest value.

Property Tax - IBI
The local town hall charge IBI (Impuesto sobre Bienes Inmuebles), on owned Property, which is an annual real estate tax. This local tax varies and is based on the valor catastral (rateable value) of the property.

Tax on Rental Income
Britain and Ireland have a double taxation treaty with Spain. Tax is paid on the declared income from the property and your rental income must also be declared to the inspector of taxes in Britain or Ireland.

Water and Electricity
When you have bought Spanish property for sale there is a standing charge and a consumption charge for utilities, similar to the UK and Ireland.

Telephone
The standard charge for a telephone line installation from Telefonica is around 180 Euros. The line rental and call charges are then payable every two months.

Basura (Rubbish disposal)
In some areas you will have to pay the Basura separately, in other areas it is included in the IBI.

Property for sale in Spain - Spanish property for sale

Legal Issues

The solicitor (abogado) will take care and assist you in all the different steps involved in buying property for sale in Spain. There are many excellent English-speaking solicitors in Spain. Choosing the right solicitor is your guarantee that Spanish legal requirements are met, the Spanish property for sale is registered in the vendor's name and that it is free of any mortgages, charges, encumbrances, debts or other liabilities. When you find property for sale in Spain Clear everything with your solicitor. Do not sign any contract or agreements with an agent, get them sent to your solicitor. They will negotiate and discuss the purchase terms with the seller's solicitor. The terms should not be limited solely to price but should cover in detail all your requirements like the completion date, the form of payment, etc.

Additional Fees

Typically around 10% of the price of property for sale in Spain
EITHER - I.V.A. (VAT) on new construction - 7% of the contract price (16% on land)
OR - Transfer Tax (Stamp Duty) on resale·s - 7% of the declared value
PLUS - Legal Fees - 1% approximately, Notary and Land Registry Fees - 1% approximately, Title Deed Tax - 0.5% of the declared value, Plus Valia tax on any increase in land value - Varies, and may not even apply

Finance

When buying property for sale in Spain you can choose to apply for a mortgage in Spain or from the UK. Mortgage rates in Spain tend to be lower than those in the UK. You know the price of the property in Euros but you will not know the actual cost until you buy all of the currency to pay for it. This means that the Spanish property for sale could either cost you more than you had planned (if the Euro strengthens) or the property could become cheaper (if Sterling strengthens).

There are two levels of mortgage offered against property for sale in Spain, one for residents and one for non-residents. For non-residents the mortgage offered against Spanish property for sale is generally around 70% of the declared value, for residents it is usually around 80% of the declared value of the property.

Applying for a mortgage for your property for sale in Spain is a straightforward process. As in the UK You will need to prove that you have an income or sufficient funds to pay the mortgage, a letter from your employer or accountant is often sufficient for this. The level of mortgage offered against Spanish property for sale is directly dependent on your financial status and also the declared value of the Spanish property for sale. Many new developments have pre arranged mortgages available.