{"id":1104,"date":"2020-03-17T23:05:00","date_gmt":"2020-03-17T22:05:00","guid":{"rendered":"https:\/\/byboservice.com\/?p=1104"},"modified":"2020-03-24T15:46:00","modified_gmt":"2020-03-24T14:46:00","slug":"purchasing-a-house-in-spain-advices-and-principal-costs","status":"publish","type":"post","link":"https:\/\/byboservice.com\/en\/purchasing-a-house-in-spain-advices-and-principal-costs\/","title":{"rendered":"Buy a house in Spain process, advices and principal costs."},"content":{"rendered":"\n\n\n\n[et_pb_section fb_built=”1″ _builder_version=”4.3.2″][et_pb_row _builder_version=”4.3.2″ min_height=”180px”][et_pb_column type=”4_4″ _builder_version=”4.3.2″][et_pb_text _builder_version=”4.3.2″ min_height=”99px” custom_padding=”||0px|||”]

When we want to buy a house in Spain<\/strong>, we need to be ready for a thorough expense control. The spend as the mortgage is one of the different costs when you buy a house in Spain, but not the only one. Along this article we will analyze the principal cost, and the process to buy a house in Spain.<\/p>\n

First of all, we need to find the house what\u00a0 we want to buy, and we have to know that in Spain there is a diference between news and resale properties.\u00a0<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.3.2″ min_height=”320px”][et_pb_column type=”1_2″ _builder_version=”4.3.2″][et_pb_text _builder_version=”4.3.2″ header_3_font_size=”21px” min_height=”324px” custom_margin=”||-62px|||”]

How much taxes will I pay?<\/strong><\/span><\/h2>\n

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Resale properties<\/u><\/strong><\/p>\n

We suppose that we decided to buy a resale property,\u00a0 what we need to know.<\/span><\/p>\n

As general rule, the most important tax (ITP) Property Transfer Tax. This amount will be depending on Region in which the property is located and it will be between 8% and 10%. There are some exceptions, for example, for the Officially Protected Housing (VPO) this tax is reduced around 4% however, also with large families and the young people often have reduced rates.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.3.2″][et_pb_image src=”https:\/\/byboservice.com\/wp-content\/uploads\/2020\/03\/WhatsApp-Image-2020-03-15-at-19.36.40.jpeg” _builder_version=”4.3.2″ min_height=”223px” custom_padding=”51px|||||”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.3.2″][et_pb_column type=”4_4″ _builder_version=”4.3.2″][et_pb_text _builder_version=”4.3.2″ text_font_size=”1px” width=”100%” max_width=”100%” min_height=”69px”]

\u00a0As we can see on the table this tax will be paid in sections of purchasing price. In Andalucia (M\u00e1laga, Marbella, Estepona and Sotogrande etc…) We pay 8% when the purchase price is less than 400.000.-\u20ac. If the purchase price is between 400.000.-\u20ac to 700.000 the buyer pays 32.000.-\u20ac (8% of the 400.000.-\u20ac) + 9% of the remaining amount.\u00a0If the purchase price is 500.000.-\u20ac This tax will be 32.000.-\u20ac + 9.000.-\u20ac Total 39.000.-\u20ac and so on.<\/em><\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=”4.3.2″ header_6_font_size=”11px” z_index=”2″ min_height=”240px” custom_margin=”-29px||21px|||” custom_padding=”5px||0px|||” filter_saturate=”50%” filter_brightness=”117%” filter_contrast=”103%” filter_invert=”8%” filter_sepia=”9%” animation_style=”slide” animation_duration=”1100ms” link_option_url=”https:\/\/byboservice.com\/” box_shadow_style=”preset2″ box_shadow_horizontal=”7px” box_shadow_vertical=”8px” box_shadow_blur=”14px” box_shadow_spread=”-4px” box_shadow_color=”#ffc747″]

<\/h3>\n\n\n\n\n\n\n
Tax Base Since<\/strong><\/td>\nIntegral fee Euros<\/strong><\/td>\nRest of taxable Base Euros<\/strong><\/td>\nTax Rate App<\/strong><\/td>\n<\/tr>\n
0<\/td>\n0<\/td>\n400.000,0<\/td>\n8,00%<\/td>\n<\/tr>\n
400.000,01<\/td>\n32.000,00<\/td>\n300.000,00<\/td>\n9,00%<\/td>\n<\/tr>\n
700.000,01<\/td>\n59.000,00<\/td>\n…onwards<\/td>\n10,00%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\u00a0 There are a lot of exceptions and some keys to save some money or not paying more than we need to. If you have any question please don’t hesitate to\u00a0 \u00a0contact us.<\/a><\/span><\/em><\/strong><\/h6>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.3.2″ min_height=”30px” custom_margin=”26px|auto||auto||” custom_padding=”27px|||||”][et_pb_column type=”4_4″ _builder_version=”4.3.2″][et_pb_text _builder_version=”4.3.2″ text_font_size=”9px” min_height=”80px” custom_margin=”-118px||94px|||” custom_padding=”0px|||||”]

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You can find more information about reduces taxes conditions for Andalusia Community here:<\/em> <\/strong>https:\/\/www.juntadeandalucia.es\/organismos\/haciendaindustriayenergia\/areas\/tributos-juego\/tributos\/paginas\/impuestos-cedidos-transmisiones.html<\/a><\/span><\/p>\n

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New properties<\/u><\/span><\/strong><\/p>\n

We suppose in this case that we decided to buy a new property, from a promotion company or renovated house, what we need to know.<\/p>\n

The new properties purchase in Spain are graved by the VAT tax (IVA). It\u00b4s the 10% of the deed Price as general rule. New properties purchase when this house is public promotion or social housing, 4%. There are some exceptions about the renovated houses, we will be happy to explain you, please contact us<\/a>.<\/p>\n

When we buy the new house in the Canary Island, we will pay IGIC (Special VAT from Canary Community) paying 6,5%.<\/p>\n

Also, in all cases we need to pay Tax of Juridical Documents-Stamp Duty (IAJD) it will be calculated betweent 0,5% to 1,5% from the deed property price, but this is paid by the bank part since 2018. It will affect you only if you need financial acquisition from the bank.<\/p>\n

The Notary<\/strong><\/p>\n

It\u00b4s doesn\u00b4t matter if we buy a resale property or new one, the notary fees needs to be paid. This price are regulated by the government, so we will find similar notary prices. The prices are between 600.-\u20ac and 900.-\u20ac and may depend by the property price.<\/p>\n

The Public Registry of Property<\/strong><\/p>\n

We need to pay also for published the deeds singned by the notary, in the public registry of property. The fees are regulated by the government between 400.-\u20ac and 650.-\u20ac and may depends by the property price.<\/p>\n

Other important costs and advices to keep in mind when we buy a property in Spain<\/strong><\/span><\/p>\n

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