Have you been dreaming of a vacation home on the Costa del Sol for years or are you considering living there permanently? Then surely the question "How to buy a house in Spain?" has already occurred to you. Buying a property in Spain can be a great experience, at least if you keep in mind the pitfalls. To ensure that this process goes smoothly, it is essential to avoid the common mistakes that many buyers make. We have listed the 5 most important mistakes for you.

Uno: You have not prepared

A common mistake when buying a house in Spain is the lack of proper preparation. Unlike the careful process one is accustomed to in their own country, it is common here for people to act impulsively, ignited by the vacation atmosphere and pleasant weather.

However, it is crucial to prepare properly:

• Get to know the regions: Get familiar with the different regions in Spain and keep in mind the advantages and disadvantages of each region.
• Additional costs: Don't lose sight of additional costs such as taxes, attorney and notary fees, etc.
• Purchase Process: Immerse yourself in the Spanish purchase process and the required documentation involved.

If you are well informed about this process, you can avoid unpleasant surprises and make your purchase go more smoothly. Our complete guide for buying a house in Spain will help you get started.

The environment of the house is disappointing afterwards

By thoroughly exploring the area in advance, you will avoid buying a house in a location that later proves disappointing. Consider the following aspects:

• Distance: Check proximity to hospitals, stores and other amenities.
• Habitability outside the summer season: Consider whether the area is also suitable in winter when it is quieter.
• Safety and Crime: Examine neighborhood safety and crime levels.
• Maintenance: See if the community maintains the area well and if there is litter or neglect.
• Infrastructure: Check the quality of roads and public transportation in the area.

Dos: No financing before preliminary purchase agreement

Another common mistake that buyers make is not arranging financing prior to the preliminary sales agreement. The preliminary purchase agreement is a private agreement between you and the seller in which the seller confirms his/her intention to sell. Furthermore, in it you confirm your intention to buy the property at the agreed price and under the specified conditions. In addition, this contract also contains the specified date when the notarial transfer should take place.

Some key points:

• Timely preparation: Make sure you have enough time before signing the preliminary purchase agreement because it determines the closing date at the notary.
• Financing plan: Start planning your finances and mortgage options before you commit to anything. Research loan terms and interest rates.
• Negotiate terms: Discuss and lay down any suspensory conditions to protect you from unexpected situations.
• Down payment: As a buyer, you usually have to pay a down payment, usually 10% of the sale price. With seller cancellation, you get double the amount back, but with buyer cancellation, the down payment can be lost unless there is a suspensive condition on a mortgage.
• Long maximum term: Set a maximum term as long as possible, say 4 months, to minimize risk and allow time for all necessary steps.

Tres: You underestimate the time it takes to get an NIE

In Spain, as a foreign buyer of property, which includes EU citizens, you must apply for an NIE (Número de Identidad de Extranjero) to buy a property. You can apply for your NIE at a police station in Spain. If you are outside Spain, you must apply directly to the Spanish embassy or consulate in your home country.

A helpful tip is to hire a lawyer or attorney to handle these administrative matters for you, especially if you don't feel like dealing with Spanish bureaucracy. This can make the process go more smoothly.

Cuatro: You don't hire a lawyer

Some people think that, especially if they have bought a house in Belgium before, they can arrange everything themselves in Spain to save money. In doing so, they cut back on an estate agent or lawyer, which is not really wise in Spain.

A lawyer will make sure all permits, documents and contracts are in order before you transfer large sums of money. He or she can translate documents and arrange administrative matters for you. If you cannot travel to Spain in person, the lawyer can sign documents on your behalf.

Thus, it is important to hire a reliable, local attorney to avoid potential problems and ensure that the purchase process goes smoothly. Therefore, enlist our help. Alness, your trusted companion, will effortlessly guide you through the entire purchase process. We are by your side, from providing essential information to putting you in touch with the right professionals such as lawyers and tax advisors. We are here to support you and help you make important decisions.

Cinco: The broker is unreliable

And to conclude, don't make the mistake of hiring an estate agent who is actually not to be trusted. Many "estate agents" in Spain are aware that you as a foreigner know too little about buying a property in Spain and are out to sell you something they would like to get rid of. ****To avoid this, it is smart to use a Belgian estate agent.

Why engaging a Belgian real estate agent is important

If you are wondering the best way to buy a house in Spain, then using a Belgian real estate agent is the most important tip we can give you. A Belgian real estate agent who sells houses in Spain knows how everything works in the country and can make sure you don't make any mistakes.

A big advantage is that they understand the language well and can translate if needed. They also have contacts with various experts in Spain, such as lawyers and notaries. These contacts can be very useful. If you need help with things like electricity, water, internet, insurance or healthcare, they can also refer you to the right people.

How to buy a house in Spain? With Alness of course!

In short, using a Belgian real estate agent can save you a lot of worries and ensure that the buying process runs smoothly. Call in the help of Alness. With Alness you can count on personal assistance from start to finish. Trust our expertise and experience to find your dream home in Spain without the pitfalls and worries that many buyers encounter. Contact us today contact us today and let's work together to make your dreams come true!

Are you wondering if buying a house in Spain is wise? Then you are certainly not alone! Many people dream of a place under the Spanish sun. In this blog, we take you through the tax advantages of such a sunny investment. Curious? Read on quickly!

Why are so many people considering buying in Spain?

Spain has always had a certain charm. From its sunny shores to its rich culture, there are countless reasons why people are drawn to the idea of living or investing in this country. But apart from the obvious holiday feeling, what makes Spanish real estate so attractive?

The stability and growth of the Spanish real estate market

The Spanish real estate market is known for its robustness and potential for growth. Here are some key points:

1. Reliability: The real estate market in Spain has shown resilience after the 2008 financial crisis. While some European markets are still struggling, Spain has shown remarkable stability and growth.
2. Stable investment: Spanish real estate tends to hold its value well, especially in popular areas such as the Costa del Sol.
3. Return: For those who not only want a second home, but also want to invest, the Spanish rental market offers interesting opportunities. For example, apartments in tourist areas can provide an attractive rental return.

The Spanish real estate market: current trends and prospects

The dynamics of the Spanish real estate market are constantly evolving, with some notable trends attracting attention:

1. Sustainable building: A growing trend is the focus on sustainable and green building. New projects are increasingly taking into account ecological footprint and energy efficiency.
2. Rising demand in inner cities: Especially in cities such as Madrid and Barcelona, there is an increasing demand for urban real estate, from modern apartments to renovated historic buildings.
3. Vacation homes on the coast: An area such as the Costa del Sol continues to appeal to both local and international buyers. These regions offer a combination of sun, sea and culture making them popular all year round.
4. Outlook: With an expected increase in foreign investors and a growing economy, the future of the Spanish real estate market seems bright.

In short, the Spanish real estate market offers both current and future buyers promising opportunities and remains an attractive destination for investors seeking both returns and a slice of paradise.

Main tax advantages of buying a house in Spain

"Is buying a house in Spain wise?", it is a question that occupies many. In addition to its beautiful climate and rich culture, Spain also offers attractive tax advantages for property buyers. Whether you are a resident or non-resident, Spanish tax laws can offer you several advantages. Below we highlight the most notable tax benefits you can expect when you decide to buy a home in Spain.

Reduction of transfer tax

When you buy an existing home, you pay transfer tax (Impuesto sobre Transmisiones Patrimoniales) in Spain. The good news? In some autonomous regions, they offer reductions or rebates on this tax for certain groups of buyers, such as young people or large families:

1. Regional differences: Tax rates may vary depending on the region where you buy.
2. For young buyers: In certain regions, buyers under the age of 35 can benefit from a reduced rate.
3. For large families: Some regions also offer benefits for families with multiple children.

Tax benefits for non-residents

As a non-resident in Spain, you can enjoy some specific tax benefits. These are mainly aimed at stimulating foreign investment in Spanish real estate:

1. Reduced income tax: Non-residents pay tax only on income generated in Spain, such as rental income.
2. Capital gains tax: Profits made on the sale of a Spanish home may qualify for certain deductions, depending on the circumstances.
3. Exemptions: In some cases, non-residents may be exempt from certain taxes.

Tax deduction opportunities for homeowners

Owning a property in Spain can also lead to various tax deductions, making it even more attractive to invest here:

1. Mortgage interest deduction: Under certain conditions, homeowners can deduct mortgage interest paid from their taxable income.
2. Deductions for home renovations: Investments in energy-efficient or sustainable renovations may entitle you to additional deductions.
3. Deduction for rental income: If you rent out your property, certain expenses can be deducted from the rental income received.

We can therefore conclude that Spanish tax law offers several advantages that make buying a home in Spain both attractive and financially beneficial. However, it is always advisable to seek advice from a local tax advisor to be fully aware of your personal situation.

So is buying a house in Spain wise or not?

Investors who take the plunge and buy a home in Spain are often rewarded with not only a beautiful property, but also a lifetime of experience. While the buying process can seem somewhat challenging, the rewards of owning a piece of paradise in Spain are priceless. With the right guidance and knowledge of the local market and legal aspects, you can look forward to a hassle-free and rewarding investment. So, is buying a house in Spain wise? Absolutely, and it may be one of the best decisions you will ever make.

How Alness guides you in making a wise investment

At Alness, we understand that the question "Is buying a home in Spain wise?" is a valid one and that potential buyers need expert advice and guidance to make an informed decision. Our commitment to your investment in Spanish property goes beyond just finding the perfect property. We offer a full range of services and expertise to ensure your investment is a success.

Reliable partners and local expertise

Trust is essential when making such an important life choice. Alness works with trusted local partners to ensure your purchase goes smoothly. Plus, Alness has a range of real estate options, from luxury villas to cozy apartments, each with their own unique charms and benefits. Curious about our offerings? Take a quick look.

Contact us today

At Alness, we want to answer your questions, guide you through the process, and help you make an informed decision about purchasing property in Spain. Contact us today so that together we can achieve your dreams and tell you with confidence, "Yes, buying a house in Spain is sensible, and here's how we can help."

The numbers are undeniable: in 2022, Belgians bought an average of 12.69 homes per day in Spain, and this number has risen to 13.8 in recent months. But why are Belgians buying homes in Spain en masse? We went to investigate for you!

The appeal of the Spanish lifestyle

The climate: a bright future

One of its greatest attractions is undoubtedly its mild, sunny climate. After periods of lockdown and restrictions, Belgians want more than ever to experience the outdoors and freedom. The Costa Del Sol's subtropical climate allows for year-round outdoor activities, from hiking to sailing.

Culture and hospitality

Beyond the ideal weather is the rich Spanish culture. The Spanish are known for their hospitality and daily life is laced with a sense of community. Family values, local festivals and a deep-rooted love of food make Spain a country where people quickly feel at home.

Working from home in paradise

An important factor in the decision to buy a home in Spain is the increase in working from home. Belgians are finding in Spain the ideal setting to work from home. Think a sunny terrace, sea views and the opportunity to relax in beautiful surroundings after the working day. The pandemic has transformed regular office work and Spain offers the perfect balance between work and leisure.

Financial advantages of buying a house in Spain

Affordable real estate prices

While property prices in Belgium continue to rise, Spain still offers affordable options. In addition, operational costs are lower. Due to the mild temperatures and efficient construction methods, energy costs are often lower than in Belgium, which was an extra stimulus especially during the recent energy crisis.

Tax benefits

There are also tax incentives for Belgians who choose to buy a second home in Spain. While you need a Spanish notary for the purchase, it is possible to get additional mortgage credit through a Belgian bank, which offers flexibility in financial planning.

How Alness helps realize your Spanish dream

Our property selection on the Costa Del Sol

Alness has a range of real estate options, from luxury villas to cozy apartments, each with their own unique charms and advantages. Curious about our offerings? Take a quick look.

Reliable partners and local expertise

Trust is essential when making such an important life choice. Alness works with trusted local partners to ensure your purchase goes smoothly.

Take hold of the key to your Spanish dream today!

The shift in mindset fueled by the pandemic has got many Belgians thinking about what is really important in life. Whether it's the sun-drenched beaches, the affordable lifestyle, or the opportunity to work from a beautiful location; buying a home in Spain is a step toward a happier, richer life.

Would you also like to be part of this growing group of satisfied homeowners in Spain? Contact Alness today for a no-obligation consultation and find out how we can help you realize your Spanish dream as a Belgian trustee.

Do you dream of living in sunny Spain? You are not the only one. However, buying property in Spain can seem like a complex process. That's why we've put together this guide to get you through each step. With the right information and guidance, anyone can make this dream come true. This guide is designed to give you an in-depth understanding of what it takes to successfully buy property in Spain and set up a business. Get on board for an exciting journey, full of possibilities!

The road to buying property in Spain

The decision to buy property in Spain is a big step. To ensure that the process goes smoothly, it is important to be well prepared and know what steps to follow.

Purchasing Service

The very first step in buying property in Spain is to engage a reliable purchasing service. This service will be your right hand in preparing and signing deeds, paying the transfer tax, and registering the property in your name at the Land Registry.

Purchase taxes: be prepared

Buying property in Spain also involves tax obligations. Depending on the type of property you are buying, these may vary. It is important that you are well aware of these obligations before you proceed with the purchase. Make sure you understand the potential tax implications and prepare for these additional costs.

NIE: the identification number for foreigners

Another important step in buying property in Spain is obtaining an NIE, the identification number for foreigners. This number is essential for almost all formalities in Spain, including the purchase of real estate. Applying for an NIE is a simple process that you can do at the national police station.

Your options for financing: a Spanish mortgage

Buying property can be a hefty investment and you may not have enough capital to pay the full purchase price immediately. In that case, you may want to consider taking out a mortgage in Spain.

The procedure of taking out a mortgage

If you choose to take out a mortgage in Spain, you will need to gather the necessary documentation to do so. You will need your income tax return for the last two years, pay slips for the last six months and bank statements for the last six months. It is important that you collect these documents on time to avoid delays in the process.

Location and property types

The choice of location and the type of property you want to buy in Spain depends on your personal requirements and budget. Whether you are looking for a vacation home on the coast, a city apartment in bustling Madrid or Barcelona, or a quiet villa in the countryside, Spain has something for everyone.

Legal assistance

Buying real estate in another country can be complicated due to different laws and regulations. It is advisable to seek legal assistance to ensure that all documents are correct and that you are fully aware of your rights and obligations.

Buying property in Spain is an exciting process, but one that offers unique opportunities. It also brings challenges, of course, but with the right guidance and information, it can be a smooth and rewarding experience.

Do you still have questions or want to know more about buying property in Spain? Then don't hesitate to contact us. We are ready to help you. Welcome to the world of Spanish real estate!