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Buying a Property in Spain
At Mediter we have made the sometimes daunting task of purchasing a dream home overseas a much easier and enjoyable experience.
All of our staff are highly trained and experienced in the Spanish real estate sector; you will meet with professional and dedicated staff right the way through your purchase. Our UK team are well educated on Spain’s property market having spent a lot of time familiarising themselves with not just the property market, but also the lifestyle, thus ensuring that you will be met with the highest level of competence by all of our staff members.
Where do you go from here?
We have a network of offices geographically spread across the United Kingdom & Ireland, regularly holding exhibitions and other activities, where we can get to know you as a client and discuss your specific needs and requirements.
With this established, we will arrange your personalised,
individual viewing trip to Spain.
Property types
It is very important to give us as much information as possible relating to your needs and requirements, as this is what we use to select properties for you to view. There are six main property types here in Spain, simplified for you by the following diagrams:
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 |  |  |  |  |  | | Detached | Apartment | Semi-Detached | Linked Property | Terraced House | Country Property |
Your budget is a very important and decisive factor so we need you to be honest and realistic.
If you require any assistance with this, we work alongside financial advisors who would be able to advise you on your personal finance options.
With your needs established, you now have to decide whether a new property or a resale property best suits your personal requirements - each option having its advantages.
Projected Properties
There is no doubt that buying ‘off plan’ is the best way to maximise investment potential. Your money is safe as all payments are covered by a bank guarantee which safeguards your money should the builder fail to
deliver the goods. Trends have proved that buying early in the project stage provides the greatest return on your investment due to the significant increase in value on the property by completion.
‘Off plan’ buying also means that you get more property for your money as the increased value can be offset against the asking price when taking out a mortgage. As well as financial advantages, some builders also give you the option of choosing tiles and carpentry thus allowing you to personalise the finish of your property.
Resale Property
The biggest advantage to choosing a resale property over new is that you don’t have to wait for it to be built; you can be enjoying your property in a matter of weeks. Financial gains are not as high, but with other
advantages such as established communities, mature gardens and little or no building work in the immediate vicinity, resale properties are irresistible for some. What you see is what you get.
Financing a property in Spain
U.K. or Spanish mortgage? Fixed rate or variable? Holiday home or main residence? Pounds or Euros? These aren’t the main issues on your mind when searching for and buying a home in Spain, but before you go any further you need to have your finances planned. Our financial partners can help you with independent financial advice and assistance to maximize your purchasing power and with our foreign currency associate you can save money when buying currency.
Our collaborators will offer you independent advice, value and choice on all your financial dealings. As members of IFA (independent Financial Advisor) they are not tied to any lender and, therefore, able to find the best mortgage deals for you. They can help you to sort out your finances, early on in the process, so that you have a fairly accurate idea on what you will be able to afford on the purchase.
The Hidden Extras Revealed
When we purchase property we all expect to pay fees and taxes, as well as the regular ongoing costs of owning a property. But there is no need to panic as the costs here in Spain are really no different to those that you are use to back home and the amounts are also similar.
The following examples are to show you what sort of fees you can expect to pay when purchasing and those that are incurred after you have moved in.
Projected Properties
Example of additional costs associated with purchase (“The 10%”)
Resale Property
Example of additional costs associated with purchase (“The 10%”)
Apparoximate annual costs:
Example of approximate annual costs of property ownership:
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