BUYING PROCESS
Buying Property in Spain – Step by Step
At Novus Habitat, we guide you through every step of the property buying process in Spain. Our goal is to make it simple and stress-free — and we’re here to help even after the purchase.
NIE Number & Bank Account
You need an NIE number (Spanish ID for foreigners) to buy property.
You also need a Spanish bank account for payments and utilities.
We handle the NIE application for you — usually within one day.
Cost: €150 per person
Taxes & Purchase Costs
When buying a new-build property, expect to pay around 13%–14% extra on top of the purchase price.
Breakdown of common costs:
VAT (IVA): 10% of the property price
Notary fees: ~0.5%
Land registry fees: ~1.5%
For resale properties, VAT is replaced by a Transfer Tax (ITP) of around 6%–10%, depending on the region.
Financing & Mortgage Costs
Spanish banks offer both fixed and variable interest rates.
Typical additional mortgage costs:
Bank appraisal: €150 – €400
Loan arrangement fees: 0.5% – 1% of the loan amount
Registration fee: ~1.5% of the loan (but often paid by the bank)
Utilities Setup
We help set up electricity and water contracts.
Cost: €300 – €500 (one-time)
Annual Ownership Costs
For a property valued at around €200,000, you can expect:
| Expense | Estimated Yearly Cost |
|---|---|
| Electricity & water | €1,000 – €1,500 |
| Home insurance | €300 – €450 |
| Property tax (IBI) | €100 – €200 |
| Community fees | €500 – €800 |
After the Purchase
You’re not alone — we continue to support you with anything you need legal help, maintenance, paperwork, or general questions.
Contact us
Let’s Find Your Dream Home Together
Whether you’re just starting to explore the idea of buying in Spain or already have a vision of your future home, we’re here to guide you every step of the way. Fill out the form, and one of our experienced agents will get in touch to answer your questions and help you take the next step with confidence — no pressure, just personalized support.
