Electricy, gas and water
Electricity, gas and water connections and supplies are covered in this section. Immediately after buying or renting a property (unless utilities are included in the rent), you should arrange for the meter to be read, the contract (e.g. electricity, gas or water) to be registered in your name and the service switched on.
What is important to the bank?
As an independent buy-side real estate agent we have experienced that people from northern Europe are usually not aware of mortgage possibilities and impossibilities in Spain. Some have simply never given it any thought, and most think they can easily get 100% loan to value on the Spanish property.
What’s the catch?
When you’re buying property in Spain, most banks will typically ask for a 30% deposit, so it’s natural to get excited by the prospect of a mortgage that asks for none at all. But what should also be natural is to ask yourself the following question: with a deposit of 30% being the norm, why am I being offered a 100% mortgage?
A checklist for inspecting a property
When you’ve found a property that you like, you should make a close inspection of its condition. Obviously, this depends on whether it’s an old house in need of complete restoration, a property that has been partly or totally modernised, or a modern home.
Spain Under Threat
Tips on key point to decide whether to buy or not to buy in Spain.
In our recent survey of 700 properties we were asking a series of questions about rentals. As a result, we were wondering how little buyers knew about how to rent their properties and what facilities services renters were expecting.
Renting whole a flat or bedrooms
Buy to let is a good way to start repaying your property. If you are planning to rent your flat in Spain, the most common way is to rent the whole property.
Lessons from British expats
British communities in Spain that have been a victim of property fraud and planning abuse in the last decade are receiving signs of hope in order to regulate the situation of their house.
Before you buy an apartment in Spain
If you are willing to buy an apartment in Spain, here you have a quick legal guide. Spanish property legal framework gives all the security and guarantees to the buyer, but you should contact a lawyer to help you.
Unfortunately, in Spain property rent is not as flexible and popular as it is in the UK. But it is picking up and it will be interesting to have some basic advice if you are renting your property to tenants or if you are a tenant who wants to rent bedroom or to rent a property in Spain.
Property market gets more aggressive
Spanish Banks have started the race of selling repossessed houses and flats by offering large price discounts and also by decreasing lending to buyers coming from State Agents.
Why do you need home insurance?
If you have a second home in Spain and you want to feel more at ease, the best option is to take out a home insurance policy. Here's an outline on how to do this and what coverage you need.
With the demise of another Spanish developer - this time sadly at Trampolin Hills - it may be opportune for all those holding off plan purchases in Spain to be cautious.
All you need to know when buying from a previous owner
The majority of homes for sale in Spain are ‘resale’ homes, i.e. any property which has been previously owned and occupied. There are essentially two types of resale home: a modern property, which has perhaps had only one or two owners, and an old property, which may be hundreds of years old.
How to secure your property in Spain
Security is of paramount importance when buying a home in Spain, particularly if it will be left empty for long periods. Obtain advice from local security companies and neighbours.
Costs and alternatives
Central heating is essential in winter in northern and central Spain and is useful in some other areas – winters can be chilly everywhere with the exception of the Canaries. If you like a warm home in winter, you will almost certainly miss central heating, even on the Costa Blanca and Costa del Sol.
How to make money of your property in Spain
Many people planning to buy a holiday home are interested in owning a property that will provide them with an income, e.g. from letting, to cover the running costs and help with the mortgage payments. Letting a home for a few weeks or months in the summer can more than recoup your running costs and pay for holidays.
Price, presentation and estate agents
Although this site is primarily concerned with buying a home in Spain, you may wish to sell your home at some time in the future (or you may wish to sell a home in order to buy another). Before offering your Spanish home for sale it’s advisable to investigate the state of the property market.
Checks, permissions and builders in Spain
Many old country or village homes purchased by foreigners in Spain are in need of restoration, renovation or modernisation. Before buying a property requiring restoration or modernisation, you should consider the alternatives.
How to install a swimming pool in Spain
It’s common for foreign buyers to install a swimming pool at a home in Spain, which, if you’re letting, greatly increases your rental prospects and the rent you can charge.
Buying a property for retiring in Spain
Retirement homes are generally purpose-built communities (or sheltered housing) and are becoming more common, particularly on the
costas, although they’re still fairly rare.
Costs, fees, management and restrictions
Properties in Spain with common elements shared with other properties are owned outright through a system of part-ownership, similar to owning a condominium in the US. Community properties include apartments, townhouses, and single-family homes on a private estate with communal areas and facilities.
Advantages & disadvantages
Spain has experienced a building boom in the last decade or so, during which the amount of developed land has increased by over 30 per cent and, according to figures published by the consultancy group Euroconstruct, around one-third of all new homes in Europe have been built in Spain in recent years.
All you need to consider
If you’re uncertain about exactly what sort of home you want and where you wish to live, it’s advisable to rent a furnished property for a period in order to reduce the chances of making a costly error, particularly when you’re planning to buy in an unfamiliar area.
The rise in celebrity golf courses
The game: the first traces of a golf like game seems to have come from the Netherlands, in around 1297, where a Dutch game was played with a stick and a leather ball. The player who hit the ball into a target several hundreds metres away, the most number of times was deemed the winner. The word golf itself has its origins in the Dutch word “kolf” meaning stick, club and bat.
Spain as second home
Spain is the most popular country to spend the holidays for most English and Dutchmen. Therefore it is not surprising that hundreds of thousands have bought a property in Spain and consider Spain their “second home”.
A growing number of Europeans own one
Over the last few years, Spain has proven an attractive location for buying a second home. Its climate, culture and of course beautiful sunny beaches appeal to many. The large coastline has attracted many construction companies to build homes to the specific needs and wants of foreign buyers.
What you need it for
Are you not able to attend the notary? Will you be instructing someone to sign on your behalf? This may be a relative, friend or solicitor. Then a Power of Attorney is drawn up. In Spanish it’s called
What you should know
Finance is obviously no discovery, however when you have finance on a property you are either about to buy or release capital from a lot may be discovered.
What to look out for
Spain is a wonderful country. The sun shines most days and good food and drink is plentiful. It is a wonderful country to have a holiday home or to live.
How to avoid making a mistake
Have you just seen your dream home? Are you about to sign a purchase contract? Are you sure the property you are buying is all legal? Are you sure the vendor is the rightful owner? Will you get your deposit back in case there is something the matter?
What is equity release?
It’s a term commonly used to indicate release of capital in some shape or form.
What a broker can do for you
Only 3 years ago there were about 3 local mortgage brokers offering to assist with the arrangement of mortgages in Spain. Today dozens have sprung up, some serious some frighteningly unprofessional and occasionally dishonest.
Maybe you have seen them on Spanish property websites; you certainly know them from travel documentaries and photographs of Spanish old towns, the traditional town or village property: very pretty, with little balconies and flower pots with trailing geraniums, and possibly some planted pots outside the wooden front door.
What if your property developer goes bust?
In today's economy, more and more developers are seeking protection under the Spanish equivalent of Administrative Receivership (as in the UK) or Chapter 11 (in the US). But where does this leave you?
Professional advice is imperative
Most information services about the process of purchasing a property in Spain – or pretty much anywhere else in the free World - have one abiding theme. Their mantra is clear - make sure that you retain an independent professional advisor - most often a lawyer – from the start of your purchase process. If you take on board no other advice, please heed this basic pearl of wisdom.
Furnishing your home in Spain
The kind of furniture (muebles) you buy for your Spanish home depends on a number of factors, including its style and size, whether it’s a permanent or holiday home, your budget, the local climate, and not least, your personal taste.
Cost, architects, contracts and guarantees
If you want to be far from the madding crowd, you can buy a plot of land (parcela) and have an individual architect-designed house built to your own design and specifications or to a standard design provided by a builder.
How to get a home loan for Spain
Mortgages or home loans (hipotecas) are available from most Spanish banks (for residents and non-residents), foreign banks in Spain, and overseas and offshore banks. In recent years, Spanish and foreign lenders have arranged a record number of mortgages, the average amount borrowed being around €120,000.
How to get a mortgage in Spain
Spanish mortgages tend to have major differences to the UK and some other countries due to a number of different factors but the major factor is that Spain has a Notary system and everything regarding Mortgages and property or even personal loans must be signed for at the Notary.
Top tips on avoiding legal complications
By Oscar Ricor (Ricor Abogados). In all markets there are people who play by the rules and those who break them. Both the rapid explosion in the Spanish property market over the last decade and the arrival of many foreign purchasers has attracted a fair amount of sharks.
Lavapies is one of the best places to buy to let in Madrid
Spain is becoming a reference for property investors willing to buy affordable properties. To find a property investment at a low price is a must. The option Buy To Let in specific areas is a strong one. The Spanish Brick has analized in this article the potential of an area in Madrid centre: Lavapies.
How to buy an apartment in Spain in court auctions
Many Spanish banks and particularly Cajas are in a dilemma: a relatively large number of their customers have not been able to pay the mortgage debts.
Dramatic property price drops
The Spanish property market is going through a situation in which we presume that bigger price drops will be experienced in the next nine months. Prices will fall furthermore but with moderation.
Desperately fishing buyers and investors abroad
The collapse of the property market in Spain has left the economy in such deadlock that the main actors have this week sat at the same table to agree new solutions to the crisis.
Home owners have dropped property prices by 21.6%
Property prices in Valencia are back to 2004 levels, which could be an excellent opportunity for home buyers who want to take advantage of the current market.
Latest property prices and demographic trends
Demography is one of the driving factors of the property market in order to assess the needs of properties…and to be able to predict the market. In this article, we introduce some figures about demography forecast in Madrid and current prices in the Spanish capital that may help property investors.
Part-ownership, leaseback and timesharing
If you’re looking for a holiday home abroad, you may wish to investigate a scheme that provides sole occupancy of a property for a number of weeks each year rather than buying a property.
10 likely key facts
The New Year brings a good panorama for property buyers and investors who are keeping an eye on the distressed Spanish property market.
A beginner’s guide
As a building settles on its foundations, there can be significant knock-on effects to its structure and finish. Problems can range from major shifts of the building’s structure, to a cupboard sticking or drains not working. Identifying faults and getting them rectified before you complete a property purchase is called ‘snagging’.
Snagging makes this safer
The process of completing a new home purchase usually starts when the builder or developer gives you a completion date. Depending on the agreement you have already made, there may be some tight deadlines for you to complete and penalties if you do not do so without good cause.
Some pointers on how to ‘Do-It-Yourself’
You might have experience in the construction industry, personal DIY experience or a very good eye for details. If you are completing a purchase make sure you approach the inspection seriously or you could end up with a lot of hassle later.
What’s behind the plastering?
My name is Roy Howitt. I brought a home on the Orihuela Costa many years ago. This was a bad experience that taught me a lot. This was the reason I founded InspectaHomeSpain, a company which helps people buy new properties that have been properly inspected.