New construction

Buying a new house: What do I need to know?

Pre-purchase considerations

Assessment of the current real estate market

Advantages over second-hand housing

Legal and financial aspects

Contract of sale

  • Agreed price and method of payment.
  • Delivery times and conditions for the completion of the work.
  • Rights and obligations of both parties.

Associated costs and taxes

VAT and Stamp Duty

Value Added Tax (VAT) is a cost that the buyer must bear when purchasing a new home. Generally, the VAT applied is 10% of the price of the property. On the other hand, the Stamp Duty (Impuesto sobre Actos Jurídicos Documentados) is applied at the signing of the deed of sale and its percentage may vary depending on the autonomous community.

Notary and registration fees

Mortgages: options and advice

Types of mortgages available

In the Spanish market there are several types of mortgages:

Review of mortgage conditions

  • Interest rate and its evolution.
  • Commissions for opening, cancellation or modification.
  • Clauses of early maturity and renegotiation.

Process: buying a new house

Research available promotions

  • Conditions of purchase: Review the conditions offered for the purchase of the property, such as down payments, instalments, and possible discounts or benefits.

Phases of the purchasing process

Signing of the deposit contract

Private purchase contract

  • Key dates, such as the start of construction and delivery of housing.

Public deed and handover of keys

Advantages of new-build housing

Personalisation and design

Energy efficiency and technology

Choosing the right promoter

Verify the reputation of the promoter

Importance of communication with the promoter

Visiting previous works of the developer

Visiting projects already completed by the developer makes it possible to assess the quality of the constructions. and the final finish of the dwellings. During these visits, it was possible to different aspects can be considered:

Zones and location of the dwelling

Factors to consider in siting

Accessibility and transport

Services and amenities nearby

It is also relevant that the area has a cultural and leisure offer, such as cinemas, theatres and restaurants, which enrich the experience of living in a community.

Future projects in the area

Martina

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Martina

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