Let’s Get The Cogs in Motion...

Discussion in 'Moving to Spain' started by Tiffany Barrett, May 16, 2018.

  1. Our life plan has always been to live Ibiza permanently - we just didnt realistically know a timeframe. But now, we looking into ‘sooner rather than later’ which is very exciting!

    Obviously I read these forums religiously, but reading threads about moving to Ibiza for the summer and rentings isn’t really what I’m looking for. So - be nice - and hit me with some help :)

    - What kind of deposit are we looking at when it comes to purchasing a property (more than likely a villa in a quiet area)
    - Any upfront costs etc that we should expect?
    - I had an NIE back in 2014 but obviously will need to get a new one now. Is the process any different? Then on to residency after that...?

    And any other helpful nuggets would be amazing. Also - please dont tell me to google - I do that every day! Some personal experiences/knowledge is what I’m looking for xx
    Amigo, jimmiz and craig72 like this.
  2. stivi

    stivi Super Moderator Staff Member

    I think as a general rule of thumb you need to be able to pay at least 20% to get the mortgage. I might be wrong on that though.

    before buying anything make sure the place has all the papers and are 100% OK etc of course.
    Tiffany Barrett likes this.
  3. jimmiz

    jimmiz Well-Known Member

    Take an "asesoría" for all your administrative needs.
  4. BritnySpeers

    BritnySpeers Member

    Tiffany Barrett likes this.
  5. Vinyldreams

    Vinyldreams Active Member

    20% Mortguage and 10 % purchase tax

    So say a villa €750k which dont get much these days you need €225k liquid in the bank

    Mortgage rates are cheap especially if you are a resident around 2%

    You will just have to renew you’re nie as the number stays the same .

    Pm me if you need any info
    Tiffany Barrett and craig72 like this.
  6. Kim Wrong Un

    Kim Wrong Un Active Member

    best of luck with yr move. one point to add. i don’t know if there are different taxes around Spain but in BCN the taxman sends a letter out around spring time asking you to declare all your assets. filling in the declaración form is a pain but you can’t avoid it. i think for UK property owners it’s the equivalent of an annual stamp duty charge. worth researching further.

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