Originally Posted by Aitor12

Hello, the most important thing when buying a home is good advice, if the real estate agent does not speak English better, let him or her get confused, the first thing is to get an English speaking lawyer in Spain. the second is to choose the house, either through your agency or another, the lawyer will give you the necessary instructions and the following steps like creating a bank account and what kind to make checks etc, the lawyer will review the cadastre and that all this to the order of the day, they will try to negotiate the price and soon they will stay in notary to sign arras or direct writing, it is better to sign arras first.

Originally Posted by Rotor

So you are going to buy a house in Spain pre Brexit and when Spain is on the brink of civil unrest?

Originally Posted by Johnboyuk

What I find even more alarming is the 15% purchase costs (tax and legal fees, etc.). Given the state of the Spanish property market, anyone deciding to sell up for any reason at a later date could show a significant loss unless their is an increase in prices.

Originally Posted by johnnyone

It's the tax that is higher for most people. In the UK there is no tax to pay up to £125k and then it is incremental up to 12% for properties over £1.5 million (less the £125k).
eg A £250k property in the UK will attract tax at 2% less £125K, amounting to £2.5K.

With buying and selling costs combined it works out at around 20% in Spain so it is important that any property purchase is researched fully. An expensive mistake otherwise.

Originally Posted by Rotor

So you are going to buy a house in Spain pre Brexit and when Spain is on the brink of civil unrest?

Originally Posted by johnnyone

It's the tax that is higher for most people. In the UK there is no tax to pay up to £125k and then it is incremental up to 12% for properties over £1.5 million (less the £125k).
eg A £250k property in the UK will attract tax at 2% less £125K, amounting to £2.5K.

With buying and selling costs combined it works out at around 20% in Spain so it is important that any property purchase is researched fully. An expensive mistake otherwise.

Originally Posted by Loafing Along

I think your 20% figure is a bit "Over the top" - normal is in the range 12% maybe 15%. Our property came out at 9,8% as the Transmission Tax used to be 7% with additional costs of Lawyer, Notary, Gestoria and Registro.
The Transmission tax varies from region to region but most now charge 10% and now in Andalucia is between 8% - 10%. New builds pay VAT .

Originally Posted by Loafing Along

I think your 20% figure is a bit "Over the top" - normal is in the range 12% maybe 15%. Our property came out at 9,8% as the Transmission Tax used to be 7% with additional costs of Lawyer, Notary, Gestoria and Registro.
The Transmission tax varies from region to region but most now charge 10% and now in Andalucia is between 8% - 10%. New builds pay VAT .

Originally Posted by johnnyone

I was referring to the combined cost of buying and then selling.

Originally Posted by Moses2013

Sounds like the ideal time to invest then.

Originally Posted by lurchio

No brainer, Brexit, 'Rights of UK citizens in EU', Exchange rate, some Britons moving back to the UK, Spains current issues, Healthcare, etc etc. Rent first, let things stabilise and buy in an area you like when all this cr** is over. Just too many unknowns at this time, honestly. A 'punt' now could turn into a nightmare. We are settled here, so riding it out, but with no serious 'side' issues going on. Come over, Rent, keep your head down!