Deciding whether to buy

It is for anyone considering, planning or already carrying out a move to Spain. After reading, you will know if buying is right for you, what a foreign buyer needs before starting, and which regional rules to look up.

Start with "How to decide between buying and renting in Spain". It compares total cost, time horizon, flexibility and mortgage access, so you can settle the main question first.

Then read the rest in the order that fits your situation:

• "Should you rent first before buying in Spain?" helps you decide how long to live in an area before you commit.
• "What a foreigner needs to buy property in Spain" explains who may buy and what a non-resident needs first.
• "Buying with a partner or others and how your marital regime matters" helps you choose how to hold title.
• "How buying rules and costs differ across Spanish regions" shows which local rules apply where you buy.

Key rules

• Loan size: Banks usually lend residents up to about 80% of the price or valuation and non-residents about 60-70%.
• NIE: You do not need a NIE to make an offer, but you need one for the deposit contract, the notarial deed, a bank account and registering the property.
• Stay limit: Owning a home does not let non-EU visitors stay beyond 90 days in any 180 days.
• Buying costs: Budget 10-15% on top of the price for a resale home and 12-16% for a new build.
• Who can buy: Foreigners can generally buy property in Spain, with extra permission needed only in restricted military zones.
• Spanish bank account: Not required by law, but in practice you need one to pay traceably and run the home.

Deciding whether to buy: the whole process, step by step

• Compare buying and renting on total cost, time horizon and mortgage access (read: How to decide between buying and renting in Spain): before you look at any property

• Check what you need as a foreigner, including your right to stay (read: What a foreigner needs to buy property in Spain): before you make an offer; owning a home does not let non-EU visitors stay beyond 90 days in any 180 days

• Rent in your chosen area to test winter, summer crowds and daily services (read: Should you rent first before buying in Spain?): ideally six to twelve months, through a full year if you can

• Check your lease exit rights before signing a trial rental (read: Should you rent first before buying in Spain?): before you sign; after the first 6 months you can leave with 30 days' written notice

• Decide how to hold title if you buy with a partner or others (read: Buying with a partner or others and how your marital regime matters): before you sign a deposit contract

• Check regional taxes and rules where you want to buy (read: How buying rules and costs differ across Spanish regions): before you commit to a region or a price

Documents you may need

Identity and residence

• Your NIE — What a foreigner needs to buy property in Spain, Buying with a partner or others and how your marital regime matters
• A written lease for a main residence — Should you rent first before buying in Spain?
• A copy of your passport — What a foreigner needs to buy property in Spain
• Your registration on the town's padrón — Should you rent first before buying in Spain?

Income and work

• Recent payslips from your employer — How to decide between buying and renting in Spain
• Your employment contract — How to decide between buying and renting in Spain
• Tax returns from your home country or Spain — How to decide between buying and renting in Spain
• Bank statements showing income and savings — How to decide between buying and renting in Spain

Other documents

• Marriage certificate — Buying with a partner or others and how your marital regime matters
• Habitability certificate — How buying rules and costs differ across Spanish regions
• A credit report from your home country — How to decide between buying and renting in Spain
• The community statutes and minutes of any building you are considering — Should you rent first before buying in Spain?

Each article lists the other documents it asks for, where you need them.

Deciding whether to buy: questions that cross several articles

How much extra should I budget on top of the purchase price?

Budget about 10-15% on top of the price for a resale home and about 12-16% for a new build. Most of this is transfer tax, which depends on the region, plus notary, registry and gestoría fees. Read How buying rules and costs differ across Spanish regions for the tax in your region, and How to decide between buying and renting in Spain for the full comparison.

What does it cost to own a home each year in Spain?

Expect the annual property tax (IBI) to run roughly 200-1,000 euros for an average home, community fees of 30-150 euros a month for apartments, and home insurance of 100-400 euros a year. Non-residents who do not rent the home out also pay a yearly income tax on an imputed income. Read How to decide between buying and renting in Spain to weigh these against rent.

How many years until buying beats renting in Spain?

Buying usually overtakes renting after several years, often up to around a decade. The point is later where taxes are high or prices are flat, and earlier where rents and prices rise fast. Read How to decide between buying and renting in Spain, and Should you rent first before buying in Spain? if you are unsure you will stay.

How much of the price will a Spanish bank lend me?

Banks usually lend residents up to about 80% of the price or valuation and non-residents about 60-70%. Each bank decides case by case, and rates depend on your profile and the loan size. Read How to decide between buying and renting in Spain, then What a foreigner needs to buy property in Spain if you are a non-resident.