A Complete Guide to Investing in Spanish Property

Spain is one of the world’s most welcoming countries for immigrants, with over 10% of the population comprising people from other countries.

Are you considering emigrating to Spain? Chances are, you’ve no idea how to set your vision in motion.

Step one is finding yourself somewhere wonderful to live and buying your dream home. Here’s your introduction to Spanish property and what’s involved in the buying process.

Why Buy Spanish Property?

Spain is a beautiful country with many natural and historic treasures to explore. It also boasts a tolerant and diverse society with a laid-back culture and excellent infrastructure.

Click for more information about making the most of living in Spain.

The Process for Buying Property in Spain

Once you’ve made up your mind about moving to Spain, it can take as little as six months to finalize buying a house in Spain. Here’s how to pull it off:

1. Get Organized

When you’ve decided on your perfect location and what type of property you’d like to buy in Spain, you should assemble a team to help you get through the process quicker.

You’ll need a lawyer, a currency specialist, and a real estate agent. Some people find it helpful to get a financial adviser and mortgage adviser on board, too.

2. Start Your Property Search

Start your property search in earnest at least five months before you want to move. It’s best to do some preliminary research online first, and then visit the properties you like in person.

Create a shortlist of properties you like and get in touch with your professional team to finalize the details of your viewing trip. It’s likely to take more than one trip before you find your perfect home, so give yourself at least two months for this process.

3. Make It Official

You must obtain an NIE number to buy property in Spain. Your real estate agent should arrange this for you along with a certificate of non-residency.

The cost involved in this is negligible, and the process only takes around seven days. You need these documents when you sign the title deeds for your new home.

When you have your paperwork in place, you can make an offer on the house you like and book a survey. A survey is akin to a home inspection and, although it’s not a legal requirement, it’s a good safety net.

4. Finalize the Deal

Try to carry out this last step at least two months ahead of your move. You’ll usually need to sign a reservation contract and a deposit contract to secure the home initially.

Once you’ve paid your deposit, your lawyer can finalize everything with the notary. Meanwhile, you can start planning your move and arrange for the utility company to connect your home on time.

The final step involves signing your contract and making your final payment, and then you’re good to go.

Embrace the World’s Best

Investing in Spanish property and moving to Spain isn’t ideal for everyone, but you should also view it as the gateway to greater things.

When you buy property in Spain, you get a residency permit for one year and can apply for Spanish citizenship after 10 years. This opens the gateway to all the delights that Europe has to offer.

Curious? Browse our blog for more information on travel and how to enjoy what the world has in store for you.