Question
What are your were your top worries when buying a property in Spain?
Answers
These are the answers of some Facebook group members.
“That banks will loan you only 70% of the cost, you need to put 30% upfront.”
“Apart from tough mortgage access (usually a 20% of upfront cash payment), I would say 10% of property price of upfront costs (tax, commissions, etc) when you buy. In the US you pay those costs when you sell, not when you buy.”
“30% deposit, 10% government tax, 4% real estate fees, 1% solicitor fees, effectively 45% of the costs of the property up front with some additional fees. The hassle and effort involved to get a mortgage is extremely intense also. Just bought a home but yeah it wasn’t easy. Worries around rights if not spanish, deeds etc.”
Useful links:
- Visit our recommended immigration & tax experts here.
- Make sure to visit Spainguru’s Resources page.
- Join Spainguru’s Facebook group with more than 13.000 members
- Join Spainguru’s NLV whatsapp group
- Get quotes for the best Health insurances to apply for a NLV
