So, you’ve decided to buy a property in Spain. Alicante is located in the southeast of Spain on the Costa Blanca along the mediterrabean sea and has become an increasingly popular destination for expats, migrating from all over Europe.
For many, the thought of buying a property in a different country is a scary one. You probably have lots of questions about the process of buying a property in Alicante.
The property purchase process in Spain is actually quite straightforward but is different to the process in the UK. In this guide we will outline this process step by step, hopefully answering the questions you may have along the way.
Step 1 - Think about what you’re looking for and where
When searching for a property for sale in Alicante it is helpful to consult a knowledgeable and reliable Spanish property agent such as Movehappy. We can use our expertise and experience to advise on choosing the right area and property to meet your requirements.
Try thinking about the following things as a starting point:
- Affordability & budget – the price of property will certainly vary from location to location, so budget is a good place to start. If you need to get a Spanish mortgage, this is an option too and we will be able to advise you about mortgages in Spain.
- Property size and requirements – how many bedrooms do you need? Would you like an outside space? Would you like a communal or private pool?
- Distance from the coast, nearest town and amenities – what travelling distance is acceptable to you?
- Other individual requirements – for example, you may want to be close to schools, the airport, a golf course, a leisure centre etc.
The answers to the above questions will allow us to advise you on which areas and properties we think would best suit your needs – the first step to finding your dream property!
Step 2 - Book a visit to Spain
Once you know what it is you are looking for and have selected properties you would like to view, it is time to book a trip to Alicante. Please check our availability before booking anything such as flights or a hotel.
At Movehappy, we will always collect you from the airport if we are available and drop you off at your hotel. You will then have some time to yourself at leisure. The following day we will spend the day viewing your selected properties and exploring the local area. We are always happy to show you anything else which is of importance to yourself such as the local golf course, schools, leisure facilities, beaches etc…
Step 3 - Now you have found your dream property in Alicante
To secure your chosen property, a reservation fee of between €3000 and €6000 is required at this stage. This reservation fee is part of the overall cost of the property and can be paid by card or bank transfer. You will be required to sign a reservation document confirming your will to purchase the property. The builder also signs to agree to the sale.
Once the reservation fee has been paid and the contract has been signed the next step is to meet our legal team.
Our legal team will oversea:
- Getting your NIE numbers - this stands for número de identificación de extranjero and is essential for opening a bank account, buying property, mortgages and connection of utilities
- Setting up Spanish power of attorney - this will be your lawyer and means they can oversee the purchase of the property while you are back home
- Checking purchase contracts and managing deposit and all stage payments
- Completing on the property and managing all completion payments
- Organisation and installation of water and electricity metres
- Setting up of direct debits for water and electricity
You will also need to open a Spanish bank account, we will help you open your bank account to make the whole process as easy as possible for you.
At Movehappy, we help all of our clients with the above. We will introduce you to one of our professional and friendly English speaking legal team.
Step 4 - While you’re back at home…
While you’re back at home our Spanish legal team will manage any required payments to the builder. We will inform you on the progress of your property purchase and provide you with regular updates right up to completion. Your next flight to Alicante should be to collect the keys to your new home.
Buying Costs in Alicante
These are the approximate purchase costs for buying a property in Alicante.
- VAT (IVA) is currently 10%
- AJD local Tax (Actos Jurídicos Documentados) 2%
- Notary costs will depend on purchase price but allow €1000
- Land registry costs to change the legal owner of the property allow €500
At Movehappy, we pay for your legal costs and also for the connection of your utilities. If you have any questions about property in Alicante or anything else at all, please do not hesitate to get in touch with us at Movehappy.