Buying a house in Spain?

Perhaps you’ve been thinking about it for a long time, and now you’ve finally decided that the time is right for you to buy a property on the Costa Blanca, Costa Cálida or Costa Almeria. A great decision, but not necessarily an easy one !

Simply because there are lots of things to think about...

How to avoid the pitfalls when buying a house in Spain ?

MARQUANTHOUSES is a real estate agency located in Alicante, Torrevieja who proudly operates in the areas Costa Blanca, Costa Cálida and Costa Almería We are experts in finding the ideal property for our clients and we offer a personalized and individual advice. We focus on you and your personal needs when looking for housing, also thanks to our collaboration agreements, we have access to the largest database of housing available for you so we have more choice.

To help, we’ve put together a list of useful tips on buying a property. They will help you to choose exactly where to buy, how to plan your budged and reasons to choose MARQUANTHOUSES Real Estate Agency when buying your home in Spain.

Narrowing down the options

It’s always good to start by putting your thoughts and ideas down in writing. Are you now looking for a healthier lifestyle? A Mediterranean life style is justperfect for that. Has buying property on the Mediterranean Coast been your lifelong dream, but now you’re about to make it become real? Perfect but it’s well worth thinking about what you expect and need from your new home.

Which area will best suit your needs? You can pick peaceful surroundings for example; a Residential Development on the outskirts or a Golf Estate or a Country Estate or you might prefer the bustle of a town center such as you’ll find in Alicante or Torrevieja, Orihuela Costa etc.

What amenities would you like to have close by? The coast generally offers excellent amenities, but would you rather these were on your doorstep or a car journey away?

Do you have children? You may want to consider a community where they can meet friends and be near the school (Bilingual) of your choice.

What kind of property do you want? You might prefer a larger home with privacy and a large amount of outdoor space such as a villa or a terraced house or Maisonette Bungalow or do you perhaps want the easier lifestyle that comes with an apartment?

How important is accessibility to you? The Airports and large cities are within easy reach of most of our areas.

These are just some of the questions you should ask yourself when you decide to buy property in Spain.

*Top tip
When you are looking to buy a house in Valencia, Alicante, Murcia or Almeria Area, having the services of a specialized real Estate Agency is always a good idea. Marquanthouses offers you a series of exclusive services that you can hardly access if you decide to buy a home on your own. When we get sick, we go to the doctor, if we have legal problems, we go to a lawyer. So, why not go to a Real Estate Specialist when we want to buy a home in Spain? The acquisition of a home is probably the most important purchase that we face throughout our lives. Using a specialized Real Estate agent can become the best option to ensure you are purchasing the home that best suits your needs; the best price and most importantly free of legal problems.

Marquanthouses will show you only 100 % LEGAL PROPERTIES.

To know more exactly what an Expert Real Estate agent can do for you that you can’t do on your own, let’s go through these important points.

11 exclusive real estate services when buying a property in Spain

1. Time saving

Buying a house is a procedure, sometimes, much longer and more difficult than we would like. Having the help of a professional in the sector will allow you to save time since we will filter the homes for you. Marquanthouses will find out what you are looking for and will know where to find it. In this way, you will view only the homes that adapt to your needs so that you do not have to search through the thousands of offers on the market that do not fit your needs or your budget. The Realtors of Marquanthouses will help you to avoid the wrong purchase.

2. Experts from each area

Marquanthouses Real Estate Agents/Brokers know all about the advantages and disadvantages of every corner of this part of Spain. For example, if you have children and you are looking for a suitable neighborhood for them, our Real Estate Professional will inform you about the best schools in the area, day care centers, nearby services...

If on the contrary you are passionate about sports, your agent can advise you on areas of the towns with better sports facilities such as the best Golf courses, Yacht Club, Sailing or Paddle club, Equestrian Horse Riding Club, Tennis club, Yoga etc. or urbanizations with Golf courses Gyms and Spa, etc.

3. Valuation of the price of housing

Undoubtedly, one of the biggest fears for most buyers is to find the home that best suits their needs without exceeding their budget, and if we have to be honest, this is what Realtors are for. The housing market is constantly going up and down, so it can be difficult to keep up with the prices of homes in each area. A Real Estate Agent, expert in the sector, knows the real estate market to perfection, so we can advise on whether the apartment or the house in which we are interested has an appropriate price, or if on the contrary, is above or below the market price, do plenty of research and ask our local experts.

4. Ability to negotiate

But, what happens if the house that interests us has a price that we can’t afford? In addition to our knowledge in the sector, Marquanthouses Real Estate Experts are great negotiators. We can negotiate directly with the sellers and resolve all the typical disagreements of any negotiation process that can be unpleasant to do yourselves, and that can even end up in dispute, terminating any option of getting the house.

As in other countries, prices are most times open to negotiation; the property’s asking price is often an indication rather than a demand. Unless the price is particularly attractive or you’re competing with other buyers, it makes sense to ask your Agent to start negotiations below the asking price, but not so low as to offend the seller.

These basic negotiations on price are often done verbally. Once you reach an outline agreement, you should have your offer summarized in writing by your Lawyer.

5. Financial picture

Once you have a good idea about where you want to buy property in Spain, the next important step is to work out the financial picture. Doing your Math’s before you start looking will give you a realistic idea of what you can spend and help you find a property within your budget. Marquanthouses will help you to work out together how much you would spend on a property and calculate the maximum budget. We will factor in the one- off buying costs involved (adding approx.. to 13,5%- 14 % to the price).Including all fees you have to pay to the professionals involved in the purchase (e.g. Notary, Lawyer etc.).

Marquanthouses will plan ahead for exchange rate exposure when the buying funds are not in euros.

We will take into account to explain the yearly costs of owning property in Spain such as council taxes, Community fees, supplies and Tax etc.

6. Get honest advice

The two most important people when buying an apartment or a villa in Spain are your Estate Agent and Lawyer. In both cases, people with an established good reputation that put your interests above all others. Your estate agent Marquanthouses will recommend you reliable lawyers in the area where you like to purchase a property, who will work for you only and speak your language.

Once chosen your Lawyer in Spain, you will pay the deposit to purchase your property to your individual lawyer and sign the legally binding paperwork on the property. Your lawyer will carry out also the due diligence and legal checks to make sure that the property is free of any debts and/or encumbrances, request a review of building permits, licenses, certificates and taxes.

7. Cut through the Red Tape

Marquanthouses will take care of all the paperwork. If there is something cumbersome in the whole process of buying a home, it is undoubtedly the issueof paperwork. It is something for which most of buyers don’t have enough time, neither are properly trained. As your real estate agent, once all the aspects pertinent to the negotiation have been finalized, we will be in charge of setting out on paper all that has been agreed upon and drawing up the purchase-sale contract on which both parties will have to show their agreement. This contract is signed at your independent Lawyer’s office by you.

Spain loves paperwork, and there’s quite a lot involved even when you buy a property. You’ll need also the following: NIE Number, this is the number that identifies you to the Spanish tax authorities. Open a bank account. Cedula de Habitabilidad-Habitation Certificate, EPC Certificate- Energy Performance Certificate, Licencia de Alquiler de Viviendas Turiscas- Tourist Rental License, Building License etc. Residence permit or Visa – straightforward for most people, but if you’re a Non-EEA national, you need to plan ahead. MARQUANTHOUSES estate agents and your lawyer will guide you with the whole purchase process.

8. Plan your taxes

Another very important factor is tax. When you purchase a holiday home in Spain you will have to pay Non –Resident Tax. If you move to Spain permanently, you will probably have to become a Tax -resident and pay income taxes, wealth taxes and capital gains on your worldwide assets. Make sure you have an accurate idea of what moving to Spain will cost you and how to pay taxes correctly. To help you with this, ask your Estate Agent or Lawyer if they offer these extended services or if they can recommend a reputable professional.

*Top tip
Always get professional advice on Spanish and worldwide taxation. This will save you money and problems.

9. Choose your property

Finally, you’ll get to the fun part of buying your home in Spain: choosing your home !

Although initially, you may just want to go with what ‘feels right’, it’s a good idea to keep your list of needs close by .With this in hand and you’re ready to start searching.

Now you have selected us...

Browse our website for properties that fit your requirements. This gives you a good first impression of what’s on the market and then get in touch directly so we can help you to select a good fit. This helps you narrow down your choices. When you’re down to a shortlist of properties, your agent will arrange the TAILOR MADE viewings. Once again, keep your needs in mind when you view a house but if it doesn’t tick all your boxes, don’t let this put you off. A home should also spark your imagination and include at least some of the things you’ve dreamed of !

Once you have chosen the property you really like get your lawyer to re- check the property ( Marquanthouses has already done this A PRIORI to the listing) for you before you commit to buying it. This might sound as if it slows the process down, but it will save problems at the end of the day. Any reputable Estate Agent will advise you to do it and have no problems with it either. In general, choosing a house is all about taking the time and thinking realistically. You may need to compromise on some things, but you will get a clear picture of what your home will be like.

*Top tip
When you view a property you really like, do not forget to take photos so that you will remind yourself better what it’s like later on.

10. Following up

Bear in mind that it isn’t over when you’ve committed to buying your home in Spain. You need to think carefully about things such as ownership structure and transaction costs (taxes, fees and mortgage costs). Plus, you may want some advice on, for example, furnishing, renovation, building work, renovation or perhaps short-term renting or key holding etc. Marquanthouses can help you with all this, as Marquanthouses offers extended aftersales services ; to advise and help you after the purchase has been made.

11. Professionalism

The financial crisis experienced after the latest Real Estate boom and the current COVID 19 situation has allowed purging the Real Estate sector drastically. The Real Estate market has always experienced fierce competition, something that in its day led to a large proliferation of real estate agencies but that became a deep fall for many of them with the arrival of the crisis. After the debugging of the market derived from the economic downturn, the real estate professionals who managed to survive were those who knew how to adapt to the new times and those who focus on the client and their needs above all. The focus on the customers and their needs is the policy of Marquanthouses and has always been part of our success.

Contact your MARQUANTHOUSES experts

If you want more detailed information about buying a property in Spain, read our article about the buying process.
Just contact us if you need more help.
We look forward to hearing from you!
¡Hasta Pronto!