Factors to consider before buying your house in Spain
Buying a home should be a process where you should take your time and think about all aspects of your decision. However, here we will give you some factors that you should consider before buying a house in Spain, so if you are thinking of investing in a house in Spain, read this article it might help:
1. What kind of Property do you want and where?
This is a key question that must be related to your budget and ability to pay. If you have a large family, you will definitely need a house with a little more space. If you are single, perhaps you could settle into an apartment in the city. However, if the location is more in the city center this also raises the price (not a lot for Alicante City) but it does, as there is more demand and for other obvious reasons. Sea Views or proximity to the beach, new or second hand, or if you want to take advantage of a New Project and take over payments while being built, all these factors play a key role when choosing the right property.
Location plays an important role, but also determining your main requirements will determine the real alternatives for you and your family along with your budget and time lapse.
Beside location and preferences, it is also important to check upon, good heating and ventilation system, floors, leaks, electrical wiring, structures, parking space, re-sale process in the future, etc.
2. The Overall Condition of the Property
It seems obvious, but this must be kept in mind since the vast majority of homes sold in Spain are second-hand it is important to check upon plumbing or electrical problems prior to buying the property you may have it professionally inspected. Also ask for the energy efficiency certificate as this will let you know, for example, if the heating consumption is average.
3. Find Out the Taxes to Involved
There are several taxes that you must consider in the sale of a property and that are the following:
Transaction tax: It is a tax that is paid in the community where the property is located and is calculated on the sale price of the property. Including notary expenses, you may calculate 11% on top of the sale price for Alicante.
Municipal taxes: Municipalities charge taxes for common works such as street repairs, garbage collection or public lighting. Usually, the property owner will be able to tell a general amount paid yearly.
Once you are clear about which is the area of your preference in Alicante and the type of property you want to live in, you can start negotiating prices, keep in mind that most prices are already at its minimum with few rooms to negotiate due to the high demand of foreigners buying properties in Alicante, also on new project developments prices are non-negotiable. To do this, you must advise yourself of the market prices and get professional guidance with us, we at Marmax Realty are here to help you during the entire process when purchasing a Property in Alicante.