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IMPORTANT QUESTIONS

Are you looking for a new build or an existing property?
With a new home to be built, you can often adapt the home to your wishes and payment is made in installments during construction. 
With turnkey new and existing buildings you see what you are buying and you can often move into the house quickly.Since the building
qualities have improved considerably in recent years, for example in the field of insulation, we recommend that you do not choose a house
older than 10 years for existing buildings. 
With new construction, you have the advantage that you receive a 10-year construction guarantee. This is a legal requirement in Spain. 

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PURCHASE COSTS

If you buy a property in Spain, you will have to consider 13-14% additional costs.
This consists of 10% VAT and 3-4% other costs, such as tax, notary, register, land register, stamps, etc...
For existing buildings, this percentage is about 13% in total.
You will then have to deal with a different distribution of costs (e.g. transfer tax instead of VAT).

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FINANCING THE PROPERTY

You take out a mortgage on the property in Spain.
In most cases this can be up to 70% of the purchase price. You then must pay the first 30% yourself, as well as the additional costs.
You can do this out of your own means, or perhaps you have an excess value on your home in Belgium.
You buy together with your child(ren) and they become co-owners. This is possible if they contribute money or if, for example, they count towards the mortgage.

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ANNUAL COSTS

Property tax; "Impuesto sobre bienes inmeubles" or "IBI".
This tax is paid to you by the municipality and varies from one municipality to another.
Wealth tax; "Impuesto extraordinario sobre el patrimonio".
You pay this tax to the state and it is currently 0%. It is only levied if your property exceeds € 700,000.
Income tax; "Impuesto sobre la renta de las personas fiscas" or "IRPF".
You also pay this tax to the state.

special services

inspection trip

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