What Nobody Tells You About Buying Property in Spain Until It's Too Late

Buying a property in Spain is one of life's biggest decisions, whether you're searching for a holiday home, planning your retirement or relocating permanently.

Most buyers spend months researching locations, comparing prices and browsing hundreds of properties online. Yet it's often the smaller details that catch people out once an offer has been accepted.

After helping buyers purchase homes across the Costa Blanca for many years, we've seen the same questions come up time and time again. None of these issues should stop you buying in Spain, but they're worth understanding before you begin.

The asking price is only part of the budget

It's easy to focus on the purchase price, but that isn't the amount you'll actually spend.

As with buying property in most countries, there are additional costs that need to be factored into your budget. These include purchase taxes, legal fees, notary costs and Land Registry fees. If you're taking out a mortgage, there may also be valuation and arrangement fees to consider.

A good estate agent should explain these costs from the beginning, so there are no surprises later in the process. As a general guide, buyers should budget around 10% to 15% above the agreed purchase price, although the exact figure depends on the type of property you're buying.

Every property has ongoing costs

Once you've completed the purchase, you'll become responsible for the normal running costs of owning a home in Spain.

These can include annual IBI, community fees if the property is part of a community , rubbish collection charges, home insurance and utility bills.

Community fees vary considerably. An apartment with communal gardens, lifts and swimming pools will naturally cost more to maintain than a detached villa with no shared facilities. Knowing these costs before making an offer gives you a much clearer picture of what the property will cost to own each year.

Choosing the right solicitor really matters

One of the biggest mistakes buyers make is assuming that all solicitors provide the same service.

An independent solicitor acts solely in your interests. They'll check that the property is correctly registered, confirm there are no outstanding debts attached to it, review planning documentation where necessary and oversee the legal process through to completion.

It's one of the most important decisions you'll make during the purchase, and it's not an area where it's worth cutting corners.

Currency exchange can make a bigger difference than you think

If you're buying from outside the Eurozone, exchange rates can have a significant impact on the final cost of your purchase.

A small movement in the exchange rate on a large transfer can mean paying thousands of euros more than expected. Many buyers choose to use specialist currency exchange companies rather than relying on their high street bank, particularly if the purchase is taking place over several weeks.

It's something worth looking into early rather than leaving until contracts are ready to sign.

Buying doesn't finish on completion day

Getting the keys is an exciting moment, but there are still a few practical jobs to take care of afterwards.

Utilities need transferring into your name, direct debits need setting up and you'll want to make sure your home insurance is in place from day one.

If you're moving to Spain permanently, there may also be additional administrative tasks depending on your circumstances.

None of these are difficult, but they're much easier when you know what to expect.

Good preparation makes everything smoother

The buyers who enjoy the smoothest transactions are usually the ones who prepare early.

Having your finances organised, your identification documents ready and your solicitor instructed before you find the right property can save valuable time once your offer has been accepted.

The same applies to sellers. Having the title deeds, energy certificate, recent utility bills and tax receipts available from the start helps avoid unnecessary delays once contracts begin.

Buying in Spain doesn't need to be complicated

Spain has one of Europe's most established property markets, with thousands of overseas buyers completing successfully every year.

The process may be different from what you're used to at home, but with experienced professionals guiding you through each stage, it doesn't have to be stressful.

At RPRE, we believe the best property purchase is an informed one. We take the time to explain every step, answer every question and make sure our clients know exactly what to expect from reservation through to completion and beyond.

Written by Shelley Scott

Property Consultant & Business Operations, Right Priced Real Estate

Shelley Scott works with buyers and sellers across the Costa Blanca and supports the day to day business operations of Right Priced Real Estate. She regularly writes about the local property market, buying costs, lifestyle trends and real estate opportunities in Southern Spain.