Complete step-by-step guide to buying a house on the Costa Blanca

Buying a house on the Costa Blanca is an excellent option for those looking for a permanent residence or interested in a second home. However, the purchasing process involves various legal and financial procedures that should be understood to avoid setbacks. Below, we explain step-by-step how to make this investment safely and efficiently.

Choose the ideal location and type of property

The Costa Blanca stretches over 200 km of coastline in the province of Alicante, offering various options depending on your preferred lifestyle:

• Close to the sea: Towns like Dehesa de Campoamor, Torre de la Horadada, La Zenia… offer direct access to paradise-like beaches.
• Near golf courses: Orihuela Costa and Rojales are excellent options if you're a golf enthusiast.
• Quiet atmosphere: Towns or residential areas that combine tranquility and nature.

Defining the location will help you focus your search effectively.

Set a budget and financing

Before starting the search, it is essential to calculate the total purchase budget, including:

• Property price.
• Taxes and additional costs: Value Added Tax (VAT) of 10% for new builds or Transfer Tax (ITP) for resale properties.
• Notary and registration fees.
• Management and legal fees.
• Possible financing costs if applying for a mortgage.

If financing is needed, it is advisable to compare mortgage conditions from Spanish banks and obtain pre-approval before moving forward with the purchase.

Next steps to buy a house on the Costa Blanca: Legal process

Buying a house on the Costa Blanca involves meeting certain legal requirements to ensure the transaction is completed safely and smoothly.

1.   Obtain a Foreigner Identification Number (NIE)

The NIE is an essential requirement for any foreign buyer wishing to purchase property in Spain. It is obtained at police stations or Spanish consulates and is necessary to formalize the purchase.

2.   Open a bank account in Spain

Having a Spanish bank account simplifies the management of payments, taxes, and services associated with the property.

3.   Legal verification of the property

It is crucial to ensure that the property is free of encumbrances or pending debts. A specialized lawyer or real estate manager can request:

• A simple note from the Land Registry.
• Verification of licenses and certificates.
• Confirmation that taxes and community fees are up to date.

4.   Reserve the property and sign the deposit contract

Once the property is selected, the buyer and seller sign a deposit contract, where an initial amount (usually 10% of the price) is paid. This contract commits both parties to complete the purchase within an agreed timeframe.

5.   Sign the public deed before a notary

The final step is signing the public deed of sale before a notary. At this point, the remaining amount is paid, the documentation is verified, and the property is registered in the Land Registry.

6.   Registration, ownership transfer, and basic services

After the purchase, it is necessary to:

• Register the property under your name.
• Set up or transfer utilities like water, electricity, gas, and internet.
• Pay the annual Property Tax (IBI).

If you prefer to skip the entire process, we handle all the steps for you when buying a house on the Costa Blanca 

If you prefer to avoid the procedures and ensure the entire process of buying a house on the Costa Blanca is carried out smoothly, we can take care of every step for you. As developers in Alicante, we specialize in building new homes. This way, you can enjoy your new home on the Costa Blanca without worries or surprises. Take the first step and discover how our real estate development company in Alicante can help you make your dream of buying a house on the Costa Blanca come true.

• Email: info@grupovegasol.com
• Phone: 686 910 381
• Address: Vereda Los Ginesillos, nº 27-D, La Campaneta 03325 (Alicante).