Property Buyer’s Checklist – Spain

1. Define Your Purpose

• Holiday home, relocation, investment, or retirement

• Short‑term rental, long‑term rental, or personal use

• Preferred regions (Costa del Sol, Costa Blanca, Balearics, Canary Islands, cities, inland)

2. Set Your Budget

• Purchase price

• Taxes (typically 8–12% depending on region and property type)

• Legal fees

• Notary + registry fees

• Ongoing costs (IBI tax, community fees, utilities)

3. Choose the Right Location

Evaluate:

• Proximity to beaches, airports, amenities

• Local rental demand

• Year‑round vs seasonal population

• Transport links

• Safety and neighbourhood quality

4. Appoint a Spanish Lawyer (Abogado)

Ensure they:

• Are independent from the seller/agent

• Specialise in property law

• Handle due diligence, contracts, and title checks

• Explain all documents in English

5. Obtain an NIE Number

The Número de Identificación de Extranjero is required for:

• Buying property

• Opening a bank account

• Paying taxes

Apply early to avoid delays.

6. Open a Spanish Bank Account

Needed for:

• Utility payments

• Mortgage payments

• Tax obligations

Choose a bank familiar with foreign buyers.

7. Conduct Full Legal Due Diligence

Your lawyer should check:

• Title deeds

• Debts or charges on the property

• Community fees

• Planning permissions

• Urban vs rustic land rules

• Energy certificate

• Coastal law compliance (for beachfront homes)

8. Arrange a Survey or Technical Inspection

Recommended for:

• Older properties

• Rural homes

• Renovation projects

Check structure, damp, electrics, plumbing, and roof condition.

9. Understand All Purchase Taxes

Depending on the property:

• Resale: ITP transfer tax (6–10% depending on region)

• New build: 10% VAT + 1.5% stamp duty

• Plusvalía municipal (local capital gains tax paid by seller but sometimes negotiated)

10. Plan for Ongoing Ownership Costs

Include:

• IBI (annual property tax)

• Basura (waste tax)

• Community fees

• Insurance

• Utility bills

• Property management (if renting or living abroad)