Approximately five million foreign-born residents live in Spain, a country with a population of fewer than 47 million people. Of course, some immigrants relocate to Spain for work or to secure a better future. Yet, a large percent of the foreign population moves to Spain for the Mediterranean lifestyle and high quality of life.
Are you thinking of buying property in Spain? If so, this post is the guide you need to learn how to buy property in Spain!
Where Will I Buy a House in Spain?
Spain is divided into 17 autonomous regions, each with a unique landscape, culture, and cuisine. Some areas even have their own official language! So, how can you decide which is right for you?
For starters, you should do some research on these popular areas in Spain:
- Balaeric Islands
Learning more about the lifestyle and location of these areas within Spain will help you determine whether they are the best choice for you.
Once you find an area you like, you can narrow your search down to a specific town. For example, if you are looking for a luxurious vacation home near the sea, you may Choose Marbella.
How Can I Find Property in Spain?
Browsing online property listings will help you get an idea of the local real estate market. Even if you aren’t ready to pull the trigger yet, knowing the market will help you spot a deal quickly!
Of course, it’s best to work with a real estate agent when buying property abroad since they can walk you through all the legal procedures. So, once you are ready to find the home of your dreams, contact a local agent that speaks your language.
What Are the Procedures Buying Property in Spain?
Buying a new home in Spain can be a complicated process, much like anywhere else in the world. However, you will need to take a few extra steps as a foreigner, including acquiring your Spanish NIE (número de identificación del extranjero). This number permits you to carry out transactions in Spain.
Furthermore, you may wish to open a Spanish bank account, which will speed up the process and potentially save you some commission.
Moreover, as a foreigner, you must understand the process! Learning about each of the steps in the home-buying process can help you identify scams. Here is what you can expect when purchasing property:
- Buyer makes offer
- Seller accepts offer
- Buyer pays deposit
- Buyer secures mortgage
- Both parties sign contract
- Buyer pays full sale price
- Buyer pays property taxes
Again, it is best to work with a reputable agent who can give you real estate advice in Spain and ensure that everything goes as smoothly as possible.
One Step Closer to Your Spanish Home
No matter if you decide to settle in the lush mountains of Asturias or the warm beaches of Marbella, you are one step closer to the home of your dreams! With these tips and the help of an experienced agent, buying property in Spain has never been so easy.
Where would you like to purchase real estate in Spain?
For more advice on buying a home, check out more of our interesting content!