Buying a house of building your own villa in Spain? 

There is still a lot to do with this. You must be aware of all laws and regulations so that you do not encounter unnecessary costs or problems. PrimaVillas can guarantee you that you can buy your favorite holiday home in Spain without worries and financial risks. We have been active in the Costa Blanca for more than 10 years (and now also in Ibiza and on the Costa del Sol) and have since assembled a large network of local specialists around us. Whether it concerns buying an existing or new villa or renovating and renting your villa, PrimaVillas is happy to help you.

To invest

What could be better than having a holiday home that you can use both privately and commercially by renting it out? Increasingly, people invest the savings in stones instead of leaving the money on the bank. This is because this simply simply yields more returns for the long term. If you can combine this with a beautiful holiday address for yourself, this is of course completely ideal.

Many people think that investing in a second home in Spain is for retired people with a lot of money. This is cliché. Everybody thinks about what to do with your savings. Bitcoins? Shares? A recent survey has shown that keeping savings on the bank is no longer so interesting. Often the costs that you have to pay tax on your savings are even higher than the income that you earn in interest. Taking into account the inflation correction, you soon arrive at a negative return.

The interest is Spain is currently extremely low and is even possible to fix for 10 or 20 years. Even if you already have an equity with which you could buy a property, it is sometimes (depending on the situation) wise to take an extra small mortgage so that you can search a property in just one level higher. As a result, this will ensure that the return at the bottom of the line will be many times higher.

How do the Spanish banks work and what costs do they actually take?

Do you wish to take out a mortgage? Banks in Spain finance 70% of the purchase price. This does not include the additional costs, which in total amounts to approximately 12.5%. These additional costs consist of costs for notary, clerk, cadastre, lawyer, real estate agent, etc.

Example:

Imagine you buy a house of € 300,000, of which the bank then finances € 210,000 and you must have a capital of € 90,000 (30%) for the house + € 37,500 additional costs (12.5% of € 300,000). This amounts to a capital of € 127,500.

In fact, it means that 40% of your own money is needed in its entirety, including these additional costs of 12.5%.

Risks

Unfortunately, there are also many negative stories in circulation. As also mentioned above; buying a holiday villa is very important. There are always risks associated with every investment. But also think of other risks such as debts on a house, a building permit that is missing while the house is as good as ready, having a contractor who turns out to be bankrupt, etcetera. Unfortunately these are many problems that have happened. Please contact us and get a free and free advice. We have a large network around us with people who can be trusted. We only do business with construction companies that we can pay with certificates from the architect afterwards. We also know from all Spanish rules that are different than in the Netherlands. There is a law in Spain; that everything on your property is actually yours. This means that if a contractor goes bankrupt, everything (including what has not yet been paid for) is yours. No financial risk. The only thing that has to be paid in advance is 15% of the construction costs. From this the building permit, municipal taxes and the architect are paid.

Concept of PrimaVillas

So are you in the orientation phase and do you want a completely free and free advice? Then we would like to contact you.

In short our concept; PrimaVillas is an independent purchasing broker and supports (unburdening) people during the entire purchase process from A to Z. Because we are independent, we do not have our own homes. For you as a buyer, our service is therefore always free because these costs are paid in Spain by the selling party. So you do not pay us anything.

After that the route goes as follows; after we have had an introductory meeting and there is mutual trust, we start by discussing the exact wishes. From there we will make a home selection in which you make a choice which property you want to view. From there we go further depending on whether there is something in between that you want to go for. Also during the bidding process, the signing of the purchase contract, the passing at the notary, etcetera we are at all times