Questions, suggestions, advice for first time home buyers in Spain.

Suggestions, questions and advice for first time home buyers in Spain. This image is of friends buying affordable housing together.

Questions, suggestions and advice for first time home buyers in Spain.

These are the things that should firstly be said. They are the only things that truly matter.

Your overall quality of life.
Your health, happiness and welfare.
Your opportunities to grow and secure your future.

1. The questions: let´s crunch the issues together.

We´ll play devil´s advocate here, with some tough questions and short observations (“did you know”).

Homes for young first time buyers. 1.1. Do you really need to buy an expensive house on the Coast? You can have one for often 25-50% less, just 30 minutes or so away by car or bus.

1.2. Is it really your wish to be living close to the beach, the night-clubs, bars and the frenetic pace? You can still have all of that, with very little effort. Then come home to a place of tranquillity.

1.3. Is it important for you to have sea or beach views? The countryside and mountains may offer much greater serenity and freedom.

1.4. Do you care what other people think about you, your successes, prestigious car, posh house? Unless they are family or friends who love you, they probably don´t! That is not being cynical, they simply can´t because they are so busy with their own lives these days.

1.5. Does your great job in the City mean that you also have to live there? Probably not.

In all of this, the main point is that you can have the best of both.

The best of both worlds is in your reach and you are free (and responsible) to make your own choices. Nobody else can make these decisions for you. But when you are young and determined, there are many good people who will help you on the way.

2. Suggestions:

Here are some practical suggestions to help you navigate the Spanish property market as a first-time buyer or if re-entering the market.

2.1. If needed, get pre-approved for a Mortgage: This gives you a clear idea of your budget and helps you make realistic offers. Spanish banks offer various mortgage options, so compare interest rates and terms. Our team has lots of reliable contacts in this area who can point you in the right direction.

2.2. If not within reach of us, work with our partners who have local knowledge, access to off-market private properties, and can guide you through the complexities of the Spanish property market.

2.3. Don’t Rush into Buying: Take your time to explore different areas, types of properties, and compare prices. Make sure you’re comfortable with the location and the property before making an offer.

2.4. Legal Process: We will help you to understand this. Buying a property in Spain involves legal procedures and paperwork. Consult with our lawyers or notarys to understand your rights and obligations. This can often be for free.

2.5. Property Taxes: Spain has different property taxes, such as the IBI (annual property tax) and the plusvalía (capital gains tax). Factor these costs into your budget. We will calculate this with you.

2.6. Legal Status: We check to verify if the property is registered correctly, if there are any existing debts or legal disputes, and if it has the required permissions for renovations or alterations.

3. Serious Advice:

Here’s some advice to help you make informed and successful decisions. We can help you with most of this, but some will be your up to your own choice. The first as an example:

3.1. Don’t Overextend Yourself: Buying a home is a significant financial commitment. Make sure that if required you can comfortably afford the mortgage payments, property taxes, and other associated costs. Consider a “rent-to-own” option to build equity gradually.

3.2. Consider buying with friends. This is a good short term option. For example, if you are intending to buy a one bedroom apartment, you can often find two bedrooms for a little more, say 15-20%. Therefore, if you share the costs 50/50 with someone, you both win.

3.2.2. However, this must be clearly agreed by a legal contract which lays out the rules for when one of you wants to move on, and other terms. We can chat with you about this. My main advice would also be to make sure you have at least 2 bathrooms, and perhaps a second living area. This ensures a vital level of privacy when needed.

3.3. Have a Home Survey Inspection: Before making an offer, hire a qualified inspector to evaluate the property’s condition. This will give you a realistic picture of any potential issues and help you negotiate the price accordingly.

3.4. Plan for the Unexpected: Be prepared for potential maintenance costs, repairs, or unforeseen expenses. It is essential to have a “financial buffer” for these situations.

3.5. Understand the Local Culture: Spain has a unique culture and lifestyle. There are some significant differences. Take time to understand the local customs, traditions, and social norms to ensure a smooth transition. We say more about this below (4), given from much personal experience.

3.6. Be Patient and Persistent: Finding the perfect property takes time. Be patient and persistent in your search, and don’t be afraid to walk away from properties that don’t meet your needs.

Buying a home in Spain is a significant step. By being prepared, informed, and cautious, together we can find the perfect home for you, and help you to create a fulfilling life in this beautiful country.

4. Understanding the Cultural differences.

This part is written by Anthony from his own experiences of living here (on and off) for many years.

4.1. The vast majority of Spaniards are incredibly welcoming and friendly to newcomers. It may take some time to be accepted, but that´s okay, and to be expected. After all, you might be something of a novelty to them, particularly in the non-tourist areas, smaller communities etc. Just smile a lot and say “Hola” whenever you are out and about.

4.2. Learning the language, at least to some extent is important. Especially if you intend live here long term or permanently. It is taken as a sign of respect and of your serious intent to merge into the Community.

4.3. Socialising differences: This can vary in different parts of Spain, but the main difference I have found is that people here do not often entertain in their own homes, unless you are Family. Where I come from we love to have dinner parties, BBQ´s. Our houses are often open. Here the socialising tends mostly to happen in Cafes and Restaurants, and it happens a lot! My point? Do not offended if you are not invited to homes, with time you will be invited elsewhere. Probably lots of times.

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Helpful internal links.

→ You can read more at our Guide to buying here, and explore the Legal issues when buying a home in Spain. Average housing prices can be found here. We also provide a number of free arrangements to buyers coming from overseas which make your experience much easier.

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