Buying a House in Spain – Complete Guide for Expats

Stages of Buying a House in Spain – A Guide for Expats

Buying a house in Spain is an exciting step, but the process can be complex, especially for expats unfamiliar with local regulations. At 247 Expat Insurance, we’re here to simplify the journey, from understanding financial obligations to securing comprehensive home insurance through our exclusive partnership with Caser Insurance.

Step 1: Plan Your Budget and Finances

Before house hunting, establish a realistic budget. Account for property prices, taxes, legal fees, and home insurance. If financing the purchase, determine how much mortgage you can afford based on your income and savings.

Step 2: Research the Market

Explore different regions in Spain to find the one that suits your lifestyle. Use property listing platforms like Idealista or Fotocasa to compare prices and identify potential options. Work with VIBE Real Estate, whose local expertise will help you identify the best properties in your preferred area.

Step 3: Hire a Real Estate Agent

A reliable real estate agent is key to a smooth buying process. VIBE Real Estate specializes in assisting expats, offering access to exclusive listings, handling negotiations, and simplifying the paperwork for your convenience.

Step 4: Visit Properties

Visit potential homes to evaluate their location, condition, and amenities. Spend time in the neighborhood to understand its dynamics and ensure it fits your long-term plans.

Step 5: Make an Offer

When you find the perfect property, work with your agent to submit an offer. Be prepared for negotiations before settling on a final price.

Step 6: Hire a Lawyer

Legal expertise is essential for verifying the property’s legal status, ensuring there are no outstanding debts, and managing contracts. Platinum Legal Spain specialises in property transactions for expats and provides comprehensive legal assistance to protect your interests.

Step 7: Sign the Preliminary Contract

The Contrato de Arras outlines the terms of the sale and includes a deposit (typically 10% of the property price). This contract legally binds both parties, ensuring a secure transaction.

Step 8: Secure Financing

Submit the necessary documents, such as bank statements, proof of income, and identification, to secure a mortgage. Many Spanish banks offer specialised mortgage options for non-residents.

Step 9: Sign the Public Deed

The Escritura Pública, signed in the presence of a notary, officially transfers ownership to the buyer. Once signed, the property will be registered with the Land Registry.

Step 10: Protect Your Investment with Caser Home Insurance

Securing your new home requires reliable insurance. Caser Insurance, available exclusively through 247 Expat Insurance, provides comprehensive plans tailored for expats.

Key Features:

• Damage Coverage: Protection against accidental and natural damage.
• Theft and Liability Protection: Covers valuables and personal liability.
• Customizable Options: Choose from Essential, Integral, or Prestige plans to suit your needs.

Our English-speaking team ensures a stress-free insurance process, so you can focus on enjoying your new home.

Frequently Asked Questions

What documents are needed to buy a house in Spain?

• NIE (Foreigner Identification Number)
• Valid passport or ID
• Proof of income (bank statements, payslips)
• Preliminary contract (Contrato de Arras)
• Public deed (Escritura Pública)

Can foreigners obtain a mortgage in Spain?
Yes, Spanish banks offer mortgage options for non-residents. Rates and conditions may vary, so it’s worth comparing offers.

What additional costs should I expect?
Budget for taxes, legal fees, notary fees, and property registration. These typically add 10–15% to the property price.

Conclusion

Buying a house in Spain doesn’t have to be daunting. With VIBE Real Estate helping you find the perfect property, Platinum Legal Spain ensuring a secure transaction, and 247 Expat Insurance protecting your investment with Caser Home Insurance, every stage of the process is covered.

Contact us today to get started on securing your new home in Spain with peace of mind.