Currently, there are many buyers of foreign origin who are interested in investing in a property in Spain. Therefore, we give you a guide for foreign buyers in which we explain those aspects that are fundamental and that you must know to carry out a safe and satisfactory purchase within the Spanish market.
With this guide you will wantto buy a second home in Spain and we will indicate which are the best areas to buy a house. This guide has all the information you need.
Reasons why you should buy a home in Spain
For foreigners, Spain is the perfect destination thanks to its climatic conditions, its culture and above all, the quality of life it presents. Therefore, acquiring a property in Spain is not only a great investment but also offers you the opportunity to enjoy all the benefits of the Mediterranean lifestyle.
Guide for foreign buyers, basic steps
First of all, it is important to get acquainted with some of those who have been essential in the process of buying a home. You have to obtain the Foreign Identification Number (NIE), this is an indispensable requirement if you want to carry out any operation in Spain. This includes paying tax or signing the deed to the property. It is also important to open a bank account in Spain, since all or almost all the transactions and payments related to this purchase are made from a national account.
Once you have decided whether you want a villa in la Herradura or any of our projects, the next step is to calculate your mortgage. In Spain, the process for obtaining a mortgage for foreign people can vary depending on the country of origin and the profile of the buyer. Banks may offer different financing options. Also, it is recommended to review and compare the conditions offered to you to get the best deal that suits your needs.
The best area to buy a villa in Spain
Spain has a wide variety of regions and cities that are attractive to buy a property.
From the Costa del Sol to the Costa Blanca, each region of Spain has its own charm. Malaga, for example, is known for its warm climate, beaches and quality of life, making it one of the most popular destinations for both residents and foreigners.
On the other hand, La Herradura, on the Costa Tropical of Granda, is perfect for those people who are looking for a more quiet and exclusive environment. It is also close to the Sierra Nevada, where you can enjoy outdoor activities all year round.
Additional costs of buying a property
It is important to note that there are some additional costs involved in buying a property in Spain and that go beyond the sale price.
The initial budget should include transfer taxes, notary fees, property registration and fees. These expenses are estimated at 10% and 15% of the purchase price, so we recommend that you make good planning on your economy to avoid surprises in the future.
For foreign buyers, it is also important to know the formalities that are related to residence if they want to obtain it.
At Brightbay we offer you the knowledge and experience that are necessary to carry out your purchase project in Spain. We have a consolidated track record in the sector and we are dedicated to offering villas that meet our customers’ needs. If you are ready to buy a home in Spain, contact us and we will help you take the first step.
