How much can I afford?

How much you will be able to spend on and a property will depend on your income and available cash, as well as the type of property and location. If you are buying your second home then the budget might be smaller than if it was for a permanent and only home. It is always a good idea to have a figure in mind before you start your search.

Is taking a mortgage a good idea?

For sure yes it is. It might ease the pressure financially, as well as taking advantages of certain aspects of euro-zone such as the low interest rates. Also in Spain you will be surprised at the much smaller wealth taxes that you would pay. In Spain there are numerous lenders and each will offer a different package. So it is worth looking around and finding out your options.

Should I get a tax advice?

Yes, it is advisable, due to not only being informed of taxes and costs for the purchase process, but also the taxes after completion and for maintaining the property.

What are the additional costs involved other than a mortgage?

Like any property purchase, you will need to have additional funds apart from the essential ones covering the property price. There are taxes, registration fees, notary fees etc…. It is suggested that on top of the purchase price you should add another 10-15% to account for most of the costs and expenses.

Should I get legal advice?

Most people would strongly advise independent legal and financial advice and consultations before any money changes hands. Of course it should always be with a firm who has experience and specialises in local land and property law.