One of the main concerns when you decide to move is finding a suitable home and knowing how to finance it. With good planning and the right information, you will find your ideal home and make sure you have the financial resources you need to move into the house you want.
Here are some practical tips if you are thinking of investing in a property on the Iberian peninsula.
Research the real estate market
If you are thinking of buying a property in Spain, both for the quality of life and the price, it is crucial to thoroughly research the real estate market. Properties in cities such as Madrid or Barcelona can be up to four times cheaper than in other European cities, so make sure you are well informed about market trends and preferred locations to get a general idea of prices.
Contact local professionals
Having a local estate agent and a lawyer specialised in foreign real estate transactions will give you the peace of mind to ensure that the whole process is carried out safely and securely, avoiding problems in the future. They will help you negotiate the price and guide you in signing the contracts.
Check the tax and legal requirements in Spain
Each country has its own legal and fiscal requirements associated with buying a home. Specific regulations for foreigners, such as taxes or other legal considerations, are vital to be aware of and take into account.
Consider taxes and additional expenses
Make sure you understand all the costs associated with the transaction, such as property transfer taxes, estate agents' commissions, notary fees, etc.
Explore financing options
Researching different financing options is vital. We advise you to take a look at HolaBank. It is a division of CaixaBank, one of Spain's largest banking groups, and targets foreign audiences. HolaBank offers financing solutions* with excellent advantages such as multilingual managers, the ability to apply online, acceptance of documentation without need for translation – and, of course, a quick response time of just 72 hours. Don't miss out on its Hola Bank housing guide for more detailed information and plenty of interesting tips.
As you can see, finding and financing a home may seem like a challenge, but with the right planning and the right support, you can achieve it successfully.
We hope you find the perfect home in your new destination.
*Conditional upon prior analysis of the applicant's solvency and repayment abilities, in accordance with the bank's risk policies.
IRN 22958-2023-17195
