In 7 steps to your dream home in Spain!

Buying a second home in Spain that you can enjoy for years to come: many people dream of it. How do you do it so that it runs smoothly and you are not left with a financial hangover? Follow the 7 steps below!

1. Looking for a dream place

You can only enjoy your second home if it is located in a place where you like to be and feel at home. First study the area or region where you want to live and only then study the house itself. You can still buy the most beautiful house in the world, if it is in a town or city where you do not feel well, you may not be happy there. Preferably get advice from someone who knows the country and region well, such as a real estate agent.

2. What do I want and what do I like to do?

In order to find the ideal location for your holiday home, you have to ask yourself what you want and what makes you happy. Are you looking for peace or quiet, would you like to be active and do a lot of sports or do you want it to be nice and slow for you? Ask yourself what your day will look like in your dream place. The better you know what you want, the better a real estate agent knows which villages and towns to visit with you.

3. Identify all costs

It is important that you list all the costs of the second home in advance to avoid financial surprises. A house is more than just the selling price. A number of costs (lawyer, notary, VAT, transfer costs) are added to arrive at the final purchase price. Take into account annual costs such as taxes, common costs and insurance. If you want to take out a loan, it is good to check with the bank in advance how much you can borrow.

4. Where can I buy something with my budget?

There are price differences per region in all countries. In Spain, for example, there is a difference between the costas in terms of land prices. And the further you go from the coast, the cheaper the land becomes. Here too it is good to be assisted by an expert such as a broker. Indicate what your budget is so that he / she can search for the ideal location for your holiday home for you.

5. House hunting on the spot

Once you know what you expect from your second home and what budget you have, it is time to look at houses on the spot. The most efficient way to do this is to be guided by a local real estate agent. Someone who knows the region through and through can lead you to your dream place more easily. Provide enough time for this, at least three days.

6. Dream home found: draw up a reservation agreement

When you have found a holiday home, a reservation agreement will be drawn up to remove the property from the market. You pay a reservation sum of an average of 3,000 to 6,000 €. Tip: try to negotiate down the amount of the reservations. Usually this works. The property is usually reserved for one month. This is renewable if the research process or paperwork takes longer. For the reservation it can be good to be accompanied by your broker or you can already call in a lawyer.

In any case, it is advisable to engage a lawyer for the rest of the legal settlement. You give him / her a power of attorney to perform all actions in your name that are necessary to purchase the property. The lawyer represents you with all parties involved in the purchase of the holiday home: bank, notary, police, court, electricity and water company, ... In Spain, the lawyer draws up the purchase contract and the notarial deed. He / she can also help you after the purchase of the house, so that you comply with all legal obligations of the country.

7. Further financial and practical handling

Even after the reservation agreement, there are still some things to be dealt with. If you opt for financing, you will look for a bank that will lend you money. In addition, ensure delivery. It is advisable to make a delivery before the deed is passed. If there is still a lot to be done, the deed can be postponed if necessary. It goes without saying that, before the deed is signed, you go to the building (or you let the real estate agent do this) to see if everything has been built or left as agreed. Also think of any renovations that you still want to carry out, connecting utilities and the delivery of furniture.

If you have followed the 7 steps above and have found your dream home abroad, it is time to fully enjoy it and be happy now. Welcome to Nelemans!

credit: Second Home