Buying your affordable dream property in Spain - 2024: Finding a property, calculating your budget, choosing mortgages, estate agents and lawyers, as experienced by a British couple in 2024.

By Howard Green

Hi, I'm Howard and in this book you'll learn how to buy your dream property in Spain. You'll gain from countless hours of research distilled into a concise 'how-to' guide, based on the experiences my wife and I had buying our dream property. Also find out how to avoid the pitfalls of buying property in Spain. As a finance manager for over 15 years, I've worked in the U.K. residential real estate sector providing financial analysis and advice. As U.K. homeowners, we still felt overwhelmed by the Spanish conveyancing process. We found it hard to assess affordability due to numerous taxes and unclear costs. Finally, we did the sums, took the plunge and bought a property in Málaga, Andalucía (Costa del Sol). It's not a mansion, but it's our slice of the dream. Let's dive into the chapter guide: 1. Step-by-step overview Get familiar with the journey ahead for buying a property in Spain 2. Initial Property Search Begin by exploring different areas, property types, and prices online. Get a sense of what's available and start shaping your vision. 3. Calculate Your Realistic Budget Understanding your budget is crucial. L earn how Spanish banks calculate mortgage affordability, E stimate your total costs, D etermine the deposit you'll need. The included Affordability Calculator (Google sheet) simplifies this important step for you. 4. Mortgage Agreement in Principle Confirm how much you can borrow from Spanish banks. This step sets the stage for your property hunt. 5. Engage with Estate Agents Armed with your R ealistic B udget, connect with local estate agents. 6. Choosing the Right Lawyers Discover how to find the most suitable lawyer for your Spanish property purchase. 7. Reserve Your Property & NIE Application Sign the reservation agreement to secure your chosen property. Meanwhile, your lawyer will handle due diligence and apply for your NIE number (essential for non-Spanish residents). 8. Private Purchase Contract & Binding Mortgage Offer Similar to the exchange of contracts in the U.K., the PPC ensures everything aligns. Book the bank valuation after the reservation to confirm required funds. 9. Completion at the Notary Public Celebrate as you sign the title deed (escritura) of sale. The remaining balance is paid, and ownership transfers to you. 10. Renting Out Your Property Explore managing agent fees, Spanish income tax implications, and the tourist license process. Understand your net monthly outlay after renting out your property when you're not using it. From understanding your budget to finding the best properties before everyone else, you will learn the realities of buying real estate in Spain. Whether it's a cozy beachfront flat or a mountain-top villa, this concise guide will lead you through the process with confidence.

• Format: Paperback
• Language: English
• ISBN: B0DDJRDHXV
• ISBN13: 9798335276450
• Release Date: August 2024
• Publisher: Independently published
• Length: 58 Pages
• Dimensions: 9.0" x 0.1" x 6.0"