Thinking of Buying Property in Spain?
Here is what you need to know before you start.
Spain remains one of the most appealing places in Europe to buy a second home or start a new chapter. The climate, the lifestyle, the value for money on the Costa Blanca and Costa Cálida — it is easy to see why so many British and Irish buyers make the move each year.
What is less obvious is how the purchase process works, and where things tend to go wrong. We have put together a complete guide — From Dream to Keys — that covers everything from budgeting and legal checks to completion day and life as a Spanish property owner. Below is a brief overview of the issues that matter most.
BEFORE YOU BEGIN
The real cost of buying
The asking price is not the price you will pay. On top of any agreed figure, buyers need to budget an additional 10 to 12 per cent to cover transfer tax or VAT, stamp duty on new builds, notary fees, land registry, and independent legal costs.
On a €250,000 property, that means having closer to €277,000–€280,000 available before you start.
Currency exchange is another cost many buyers overlook. The difference between a poor rate and a good one on a large transfer can easily outweigh every other fee in the transaction. Always use a regulated FX specialist rather than a high street bank.
The buyers who come to grief in Spain are almost always those who skipped the preparation.
THE PROCESS
Eight steps, every time
Every Spanish purchase follows the same sequence. The key milestones are:
- NIE number — your Spanish tax ID, required before completion can happen.
- Independent solicitor — appointed before you even find a property, not after. This is the single most important decision you will make.
- Reservation contract (Contrato de Reserva) — never sign until your solicitor has reviewed it.
- Private purchase contract (Contrato de Arras) — the legally binding commitment, with a deposit of around 10% of the purchase price.
- Completion at the notary — keys change hands the same day. You do not need to be present if your solicitor holds a power of attorney.
Done properly, the process takes around eight weeks from offer to keys.
WHAT CAN GO WRONG
The pitfalls worth knowing about
Most problems in Spanish property purchases are entirely avoidable. The ones we see most often:
- Using the seller's solicitor. A lawyer with a commercial relationship to the other party cannot give you truly independent advice. Always instruct your own.
- Paying a deposit before mortgage approval is confirmed in writing. Pre-approval is not approval. Wait for the binding mortgage offer (FEIN) before committing any funds.
- Paying a deposit before your UK or Irish sale has exchanged. A sale is not legally binding until exchange. A collapsed chain can cost you your Spanish deposit.
- Signing documents you have not had translated. Every contract should come with a certified English translation before you sign anything.
- Rushing under pressure. "Two other buyers interested" and "price goes up on Monday" are sales tactics. The right property is rarely the one that demands a decision in 24 hours.
READ THE FULL GUIDE
From Dream to Keys — free, no sign-up
Our complete buying guide covers every step of the process in plain English, costs, legal checks, the ten cardinal rules, what happens after completion, and how to handle holiday letting. It is free to read and takes around twenty minutes.
Read the full guide here
TALK TO THE TEAM
Ready to start the conversation?
No obligation, no pressure, just an honest chat with a team that has been guiding British and Irish buyers through the Spanish market for over fourteen years.
