GogoEstates Property Guide for Spain

Buying without Worries!

In the property guide of GogoEstates you will find everything you need to know if you want to buy a home in Spain

Property Guide

We proudly present the Gogoestates property guide for Spain!

Who doesn’t dream of it?
A private home under the sun in Spain!
But where do you start to realize this dream?

Contact GogoEstates, your established real estate agency in Spain since 2001!

Download our property guide. It gives all the information you need to know when you are planning to buy a home in Spain.

What will you find in this guide?

  1. Your own house under the sun in Spain!
  2. Why buy via GogoEstates?
  3. Step-by-step plan and NIE number.
  4. Which authorities play a role?
    • The real estate agency.
    • The lawyer.
    • The notary.
  5. Mortgage and financing.
    • Financing.
    • Apply for a mortgage at a Spanish bank.
    • Guidance and advice by GogoEstates.
  1. What taxes will you have to deal with?
    • Tax and costs when purchasing a home.
    • Tax payable annually.
  2. Our extensive services.
  3. Why buy a house in Spain?
    • Climate.
    • Gastronomy.
    • Value for money.
  4. What can you buy via us?
  5. Download the property guide!

1. Your own house under the sun in Spain!

Who doesn’t dream of it? A private home under the sun in Spain! But where do you start to realize this dream?

Contact GogoEstates, your established real estate agency in Spain since 2001!

We have all the knowledge to help you purchase your home in this fantastic country. Whatever your reason is: holiday, winter stay, permanent residence, rental, as an investment or just for your own pleasure, we are there for you.

Since 2001, we have personally guided interested parties from all over the world in the purchase of a Spanish home.

If you opt for certainty, reliability, craftsmanship, professionalism and experience, GogoEstates is the logical choice.

Are you looking for a fully finished or an off-plan design villa? Or would you rather design and build yourself? Or would you prefer an excellent resale in the best location? GogoEstates is your right partner.

With all your wishes you have come to the right place

2. Why buy via GogoEstates?

  • Purchase guidance from A to Z.
  • Offices in Cabo Roig, Costa Blanca and in Aguilas, Costa Calida.
  • Multilingual employees.
  • Full legal support with the purchase.
  • Exclusive rental service.
  • Access to all properties on the real estate market.
  • Best choice from many new construction projects.
  • Wide range of villas and apartments.
  • Excellent after-sales service.
  • 360O virtuele tours.
  • More than 20 years of experience.

GogoEstates, a recognized real estate agency in Spain since 2001, has a proven track record in guiding prospective buyers looking for a stay under the Spanish sun.

We are independent and know the ins and outs of the projects and the developers, have the knowledge of the region and know what developments are going on in the various regions.

Our multilingual employees live in the region themselves and are happy to share their experiences and enthusiasm with you. After all, they are there for you!

GogoEstates offers you a wide range of new construction and resale properties of high quality with a good finish, style and design. In places with the best geographical location, the nicest climate and the most beautiful natural environment.

Living on the Spanish Costas has never been so accessible!

3. Step-by-step plan and NIE number

Step-by-step plan

Important steps for buying a property in Spain:

  • Check your financial options before coming to Spain.
  • Choose your preferred region.
  • Visit our website and view our offers.
  • Schedule the date and duration of your visit.
  • Talk to us in a video call to clarify your wishes.
  • Visit us in Spain. Take advantage of our offer for a tour with accommodation.
  • Formal matters, sale, signing and notarial deed.
  • Key transfer.

NIE-number

Once you have found your dream home and want to purchase it, it is necessary to request a NIE-number.

The NIE-number (Numero de Identidad de Extranjeros) is an identification number for foreigners in Spain. The NIE-number is used, among other things, as a reference number for the tax authorities.

If desired, we will introduce you to a lawyer who speaks your language. They have short lines with the authorities that are authorized to issue a NIE-number. This way you will have it in your possession within a few days.

See you soon in Spain!

4. Which authorities play a role?

The real estate agency

Finding the perfect home can be quite a challenge. Especially if you are not familiar with the market.

Every real estate agent in Spain has access to all properties on the real estate market. Also, from all fellow brokers. In your search for the ideal home, one reliable partner is sufficient for success!

Since 2001, we have personally guided people from all over the world in the purchase of a property in Spain and are specialized in resale of Mediterranean villas and apartments, key-ready houses and new-build projects from plan on the Costa Blanca, Costa Cálida, Costa Almeria and Costa del Sol.

The lawyer

GogoEstates advises foreign clients to use the services of a lawyer who speaks your language. Good assistance is thus guaranteed and because the lawyer speaks your language, the entire buying process is better understood, and you can make the right decisions more easily. No surprises afterwards!

The lawyer can assist you with the legal provisions of the purchase and assist in arranging the NIE number. He/she will also advise you in the right way with other formalities such as the annual tax return.

It is important that you are well informed!

The notary

The notary checks the identity and competence of the buyers and sellers.

The notary refers to any charges or debt that may rest on the property and ensures that these are included in the deeds.

The notary includes proof of payment of the last IBI (Impuesto sobre Bienes Inmuebles) in the deeds and checks whether the cadastral number of the IBI corresponds to the seller’s original deed.

The payment method of the purchase is documented in the deed of sale. The notary refers to the obligation to pay the purchase taxes on time.

If there is still a mortgage on the house, it will be cancelled by the notary.

Unless otherwise agreed, the costs of the notary are at the expense of the buyer.

Usually, the deed can be collected after a few days after which the taxes can be paid, and the deed can be registered with the Spanish Property Register (Registro de Propiedad) and the land registry.

GogoEstates guides you through the notary formalities!

5. Mortgage and financing

Financing

Have you found a house in Spain?

Do you need a mortgage to finance your home in Spain?

Then it is important to check in advance what your financial options are!!

There are various options for financing a property in Spain:

  • You can pay for your purchase (partly) from your own resources.
  • You can take out a second mortgage on your owner-occupied home in England.
  • You can apply for a mortgage at a Spanish bank.

 

Apply for a mortgage at a Spanish bank

In Spain, there is only an annuity mortgage and no interest-only mortgage. Spanish banks have an end age. The final age is set at 75 years.

It is important to choose a mortgage that suits your current and future personal situation (income, cohabitation, pension).

The bank assesses a mortgage application based on family composition, whether you have a rental or owner-occupied home, the number of children and their age, type of work, type of income, etc.

Some conditions that apply when taking out a mortgage in Spain are:

  • You must finance at least 40% of the purchase price from your own resources.
  • You must have sufficient income.
  • In general, you may spend 35% of your net income on housing costs.
  • Maximum term of 25 years.
  • Maximum final age of 75 years.

 

What documents are required to apply for a mortgage in Spain?

For a quick assessment by the Spanish bank, it is important to provide correct and complete documentation.

A valuation report from a valuer accepted by the bank must always be submitted.

If you are employed, you must also submit the following documents:

  • Mortgage statement from the bank of your owner-occupied home.
  • Latest tax return.
  • Last 3 payslips.
  • Bank statements for the last 6 months.
  • Extract credit registration of your country.

If you are self-employed, you must submit the following documents:

  • Last two tax returns.
  • The last two annual accounts.
  • Bank statements for the last 3 months.
  • Mortgage statement from the bank of your owner-occupied home.
  • Extract credit registration of your country.
  • Rental contracts (if you receive rental income).

 

Guidance and advice by GogoEstates

GogoEstates works together with various mortgage lenders in Spain. We advise and guide you completely in your own language to go through the Spanish mortgage process.

Every day we are enthusiastic about answering all questions and taking all necessary steps behind the scenes in your interest.

You are fully supported, with personal guidance and efficient handling of the cases.

Commitment is central to us: we think it is very important that you take out a suitable mortgage.

Team on site

Our GogoEstates team is multilingual. Of course, support in most common languages is available.

This allows you to easily contact us in your own language if you have any questions or comments.

We communicate with the banks in Spanish and provide feedback to you in a language that you can understand.

GogoEstates guides you through the mortgage process!

6. What taxes will you have to deal with?

Taxes and costs when buying a home

A new-build home, calculated on the purchase price:

  • VAT or IVA (Impuesto sobre el Valor Añadido) of 10%.
  • Stamp Tax, the AJD (Actos Juridicos Documentados), from 0.5% to 1.5%.

 

An existing home, calculated on the purchase price:

  • Transfer tax or ITP (Impuesto sobre Transmisiones Patrimoniales). This is between 8% and 10% depending on the purchase amount and the province and can be up to a maximum of 15%.

 

Furthermore, the following taxes and costs, calculated on the purchase price, apply to all homes:

  • Legal costs. 1% to 1.5% plus VAT.
  • Notary, about 0.5% to 1%.
  • Costs for the cadastral registration, ranging from 0.3% to 1%.

If you take out a mortgage, about the mortgage amount:

  • Bank closing costs 1% to 1.5%.
  • Notary, registration and preparation of legal documents about 2.5%.

Tax payable annually

Income tax residents (IRPF = Impuesto sobre la renta de las personas fisicas):

Any foreigner resident in Spain must file tax returns on their personal assets and worldwide income.

If you stay in Spain for more than 6 months a year, you will be considered a tax resident even if you have not yet applied for a residence permit.

In Spain, the income tax is progressive, ranging from 19% to 47%. As a Spanish resident, you can deduct mortgage costs (interest and repayment) up to a certain amount from your taxable income.

Income tax non residents:

The Spanish tax authorities charge foreign homeowners with a kind of ‘fixed rental value’. About 19% tax is due on 1.1% of the land registry value.

If you rent out the house, you must pay about 19% tax on the rental income.  You pay the fixed rental value proportionally over the period that the house was not rented out.

Real estate tax (IBI = Impuesto sobre Bienes Inmeubles):

As an indication, the owner of real estate pays between 0.3% and 0.8% real estate tax. The percentages depend on the municipality.

Property tax is always paid, even if you are not a resident.

Be informed in advance about the exact rates with your purchase!

7. Our extensive services

GogoEstates is a real estate agency that specializes in guiding people looking for a property in Spain and is well known for its personal involvement and excellent service, not only during, but also after the purchase of a property.

At GogoEstates, the after sales service when purchasing your home is one of the most important things after you have made the decision to buy. We are here for you, so that you can recommend us to your family and friends without any hesitation.

We offer you an excellent service and a package of services tailored to your wishes, so that the purchase is arranged and taken care of down to the last detail.

Our services consist of:

  • Full guidance from A to Z in your own language during the buying process.
  • You will be fully informed during the period before the notary transfer, and we will guide you during the transfer.
  • You will be kept up to date on the progress during the construction of your new-build home and we will carry out the necessary checks before final delivery.
  • Assistance with lawyers and notary.
  • Providing additional translations if needed.
  • Assistance with the purchase of any furniture packages.
  • Guidance in opening a Spanish bank account.
  • Apply for the mandatory NIE number.
  • Have any cleaning, painting and/or renovation work carried out by local specialists under our careful supervision.
  • Electricity, water, TV and internet connections.
  • Exclusive rental service with various options such as collecting rent payments, meet & greet, welcome package and checkout.
  • Real estate and key management services tailored to your needs, such as regular inspection of your property, ventilation and postal care.

 

Even if you should ever decide to sell your home, we are there for you with our all-round advertising/marketing team. We provide publications on all kinds of websites and social media, 360º tours, virtual viewings and extensive advertising campaigns.

At GogoEstates you are in good hands!

8. Why buy a house in Spain?

For many people, Spain is the ideal country to live or stay for a longer time of the year. The favorable climate, the way of life of the Spanish people and their culture are particularly attractive. The gastronomy is also worth mentioning.

Climate

The Spanish Costas have a Mediterranean climate. There is relatively little precipitation, and the sun shines all year round.

The mild, dry winters are caused by the Mediterranean Sea, which has a warming effect on the region. This is enhanced by the presence of mountains and hills behind the Costas that retain the heat from the sea and keep out the cold from the interior.

You can also count on pleasantly warm and dry summers.

Gastronomy

A very attractive aspect of Spain is undoubtedly its cuisine, one of the best in the world due to the quality and variety of local products.

Eating is one of the most enjoyable daily rituals in Spain. It is very easy to find eateries in the big cities as well as in the small rural villages. Everyone can find the best price/quality ratio that corresponds to their own taste and preference.

Value for money

Investing in Spanish real estate is, if you approach it right, a very valuable investment with enormous added value potential.

Purchasing a new build property off-plan or at an early stage is a good investment. New build prices are at their lowest at launch. In this way you can already have a capital gain of 20-30% when the property is delivered.

There is also an annual indexation of 8-10%, which can also give you a nice profit and the annual rental yields are on average 8% and are on the rise.

Buying in Spain is a good investment and insurance for the future. It provides financial returns and returns in kind through own use.

Finally, the general costs of living and especially of the nice things in life are much lower than many other countries. Eating out or visiting a terrace can costs a fraction of what you are used to.

A house in Spain is synonymous with enjoying life!

9. What can you buy via us?

GogoEstates offers complete purchasing services.

We have been guiding buyers from all over the world since 2001. We are specialized in the resale of villas and apartments as well as in the sale of key-ready houses and new construction projects from plan.

Our team of specialists will be able to give you a clear picture of what you can get for your money. Once we know your criteria and know what you are looking for, we will select interesting properties for you.

We offer all types of properties such as holiday homes, detached houses, plots, real estate in the luxury class or typical Spanish city apartments in various regions, both in the coastal towns and in the interior (50 km) of the Costa Blanca, Costa Cálida, Costa Almeria and Costa del Sol.

We have properties of individuals, companies, funds and repossessions from banks / SAREB in our portfolio.

GogoEstates has access to all properties on the real estate market and a very wide range of apartments and villas.

In addition, we offer various options for investing in large lucrative projects. Think of resorts and
conversion of large buildings into hotels.

With us you will find your dream home!

10. Download the property guide!

We have made out property guide available for you in different languages to download. 

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