Buying a second home in Spain can be very interesting. Nowadays, saving savings in the bank is no longer as profitable as what it once was. The result is that people increasingly invest their money in real estate. In particular if this property is at a holiday destination, this can be a nice win-win. In the high season you rent the house in full and outside of these moments you can enjoy it yourself.

If you've made the decision to buy a second home, it's a matter of starting. But where do you actually start? Spain cannot be compared with the Netherlands in terms of legislation and regulations. The different steps there go very differently.
It is therefore advisable to always engage someone who is familiar with the area and who knows the industry.

When you have found someone with whom you feel good, you can start. In our opinion, the most important thing is to determine in which area and / or which place you want to buy. Many people first start by searching for a home and only then look at where it is located. That's the wrong order. You can always adjust a home to your own liking, but not a location.

Once the location has been determined, it is time to search for the suitable property. It is good to think about what the purpose of the home will be; permanent residence, rental, own (holiday) use, or a combination thereof? Only after this has been determined can you find the property that is suitable for this. Of course, financial feasibility and possibly financing play a role. Read here what costs are involved.

If both parties agree with the price, a reservation contract will be drawn up (between the broker and the buyer). This is to remove the property from the market. The broker will determine the reservation amount that the buyer must pay. This amount is later deducted from the official 10% contract. It is advisable to include the check for possible debts and defects and possession of the correct permits in the reservation contract, so that you can still cancel the purchase agreement without financial consequences. This reservation contract is generally valid for 2-3 weeks. Within this period, the purchase broker / lawyer will check for any debts and defects and check whether the correct permits are present. The 10% contract will then also be drawn up (between the buyer and the seller). The broker transfers the reservation amount to the seller and the buyer supplements this up to 10%.

It is advisable to include Article 1454 of the Spanish Civil Code (del Código Civil) in the contract. If this is stated and the seller withdraws, the buyer will receive twice the 10% down payment (as a fine for the seller).

Once this is signed by both parties, there is a formal purchase agreement. This includes the latest transfer date and as soon as this time arrives, the remainder is paid at the notary and the property is officially yours.

Do you want complete guidance during the purchase of your second home?

Then contact us without obligation. We are happy to visit you to meet you and discuss your wishes. This is possible both in the Netherlands and in Spain.