When you buy a home not just look at the price of the house, but you must add the cost of purchase, if you do not want to take fright at the notary. The various expenses and taxes for buying a home can together exceed 10% of the property price.
Barcelo Real Estate will list the major expenses you'll face when you buy a property in Spain.
For new construction homes. First, one must distinguish between new and second-hand housing. The new housing is being purchased directly from the promoter, or when you buy has been less than two years after its completion. In this case, you have to pay VAT, equivalent to 10% of the housing. In addition, you must pay tax Stamp Duty (AJD), an autonomous tax of between 0.5% and 1.5% of the value of the sale.
For second-hand homes. On the other hand, second-hand housing is not taxed with VAT or the stamp duty, but with the transfer tax (ITP). In Valencia this tax is the highest in Spain and reaches 10%.
The parties are free to choose the professional you prefer, but the fees will not vary much between one office and another, as the law lays down tariffs based on the value of the sale and the service to be provided. Housing for 120,000 euros, the cost will be about 390 euros, according to the General Council of Notaries.
In fact, this procedure is voluntary. While it is highly recommended legal certainty offered by the buyer. For a house of about 100,000 euros, the price may be around 200 euros, including taxes. Also in this case it depends on the characteristics of the property, location and other variables, and tariffs set by law apply.
Barcelo Real Estate are estate agents located in Ciudad Quesada, although we have properties for sale along the Costa Blanca and Costa Calida, in such interesting towns such as Torrevieja, Los Montesinos, Campoamor or Santa Pola among others.
Contact us, you'll find all kinds of properties, both new and second-hand, at the best price apartments, bungalows, houses, plots, flats, etc.