What do you need to bear in mind when buying a house in Spain?
When buying a house in Spain, there are a number of things you should consider before completing your purchase in order to avoid possible issues in the future.
Buying a house in a strategic location in Spain is a dream come true – there are so many beautiful cities to choose from. The Costa del Sol, Costa Blanca and Madrid have always been attractive locations, both for foreign tourists and for those already living in a Spanish city who are looking for a change.
However, high property prices mean that not everyone is in a position to make their project a reality. The country is still one of the most sought-after locations, due to the warm climate and the excellent quality of life it offers. Furthermore, another determining factor when it comes to moving to another city is retirement, as this is a time for enjoying the peace and quiet of a beautiful natural setting and living life to the full.
The statistics show that many Britons have chosen Spain when it comes to making their retirement investments. More and more people both from Europe and other countries throughout the world are now choosing to move abroad when they retire.
There is some important information to know before you buy a house in Spain
Things to consider when buying a house in Spain
Among the different things you need to take into account when buying a house in Spain are the following:
- Legal documentation for the property
- Building permits
- Licence of first occupation
- Property registration certificate
- The statutes of the homeowners’ association
- The mortgage
- Cost
- Financing
The issues mentioned above are only a few of those that you should bear in mind when purchasing a property in Spain. Of course, the location is another factor, and one that’s considered the most important of all by many buyers (more detailed information can be found at: myspainvisa.com)
Don’t rush and make sure you’ve covered everything before completing the purchase
Why get a NIE?
If a foreign national wishes to buy a property in Spain, they must obtain a NIE Spain. The NIE (Número de Identidad de Extranjero) is an identification number that the Spanish state grants to foreign citizens. It’s important to point out that a NIE will not be granted to a foreign national on a short visit to the country.
But if the person is moving to Spain for either business or personal reasons, they and their spouse and children will be assigned unique fiscal identification numbers. Under the stipulations of an Organic Law established in the year 2000, the NIE guarantees the rights and freedoms of foreign nationals in Spain.
This is considered a Spanish Royal Decree that stipulates that all foreigners moving to Spain for professional, business, or personal reasons must have a unique sequential personal number that has a fiscal identification function. It is also worth noting that any activity undertaken by a foreign national in Spain that involves the payment of tax will require a Spanish identification number.
NIE is a must have for anyone who want to own a home in Spain
Lots of people move abroad when they retire
Buying a house abroad can be a great investment
