Step by step process of buying a home in Spain

The process of buying a property in Spain involves several, often quite complicated formalities. This is why in July of this year we presented a seminar on the process of buying a VAPF home. It is part of our series of webinars.

We have already explained the first steps in buying a VAPF home off plan. In this webinar, we are assisted by the law firm Fuster & Associates who are experts in the field. They have over 20 years’ experience as specialists in the property market. The firm has offices in the Alicante region in Teulada. finestrat and Orihuela. And also in los Alcázares in Murcia province.

In this second part of the webinar, we mention the final step in the purchasing process and some other important aspects you need to consider.

Final step in the process of buying a VAPF home

One of the most vital requirements for VAPF is that their clients’ payments are secure. Normally, developers must provide a bank guarantee for all clients’ payments, but not all do this. That is why we ask our clients to pay through our client fiduciary account. Once we have received the money, we ask the developer for a bank guarantee and as soon as we receive it we make the payment.

Once the home is completed, a meeting is arranged with the notary. There, all the details of title to the property will be checked and payment is then completed.

Villa Senza de la promoción Azure Altea Homes

And after purchase?

VAPF’s legal and tax advice and management service doesn’t end with purchase of the house. There are also several fees that the client must pay when buying a Spanish property. This is why we always recommend that our clients increase their spending budget for the house by about 12% to 14%.  This will enable you to cover all the extra fees and costs. One cost that you will incur when buying a home in Spain is payment of Value Added Tax (VAT).  There are also other costs, including notary’s and registry fees or tariffs. VAPF will handle all these payments for you to ensure that everything is paid for and settled.

Another fee that is payable after you have bought a home in Spain, is the Non-resident Tax. The amount is based on the property registry value and payment must be made annually. This is another formality that VAPF will deal with for you.

Finally, at VAPF we recommend that our clients make a will in Spain once they have bought their property. In this way if anything happens, it will be much easier for your heirs to manage everything at what is always a difficult time.

Buy to rent investmentl

Many of our clients buy a VAPF property as an investment. That is, before they retire completely and move to the Costa Blanca they will rent out their home. In this case, there are some legal and tax requirements.  In the case of European citizens, an obligatory quarterly monthly tax statement must be filed. However, tax is only payable if you make a profit from your rental. The reason is that the landlord’s other costs are taken into account, such as electricity or water.

Buying through a company

Instead of buying a property in their own name, some of our clients purchase in the name of their company. This is a viable and feasible option but the purchasing process requires a few formalities to be completed at the start.

The first formal requirement is for all the CEOs and managers of the company to sign a declaration of ownership. They have to authorise power of attorney in a document signed both in Spanish and in your language.

The next step for a client wishing to buy a VAPF property in their company name is to obtain a certificate. This certificate contains information confirming that the company is still operating. For example, the official address for tax purposes. This document will also be signed in both languages and after certification by the notary it will be delivered to VAPF. The following step in this process is the same as a buying a property in the proprietor’s name .

As you can see, at VAPF we try to make the process of buying a property easy for our clients. If you have any queries, you can write to us directly, using this form. And if you want to learn all about VAPF and our villas and apartments, you can follow us on Facebook and Instagram.

VAPF’s villas and apartments, just a step away from the rest of Europe.

Alicante province is one of the favourite destinations of European citizens. Its beaches, the Mediterranean climate, and its varied cuisine make it the perfect place to spend a summer holiday or to buy a second home for your vacations or retirement. There are many reasons why Alicante province, and the Costa Blanca in particular, is a haven where you can invest or start a new life. Its excellent connections with the rest of Europe are just one of those reasons.

VAPF developments include homes in several municipal districts on the Costa Blanca: Benissa, Denia, Altea and Moraira, among others. The company also has homes in Poble Nou de Benitatxell, at Residential Resort Cumbre del Sol, the perfect place to start a new life in Alicante province, just a step away from Europe.  And here’s why!

VAPF means easy plane travel to the rest of Europe

Cumbre del Sol is little more than an hour by car from Alicante and Valencia airports. As a result, you have direct flights to and from cities in the United Kingdom, France, Holland, Belgium, Germany, Poland and Russia. To be precise, it’s a two and a half hour trip to London or Brussels, and little more than five hours to Moscow, and in two hours you could find yourself in Paris.

So if you are thinking of buying a second home in Spain, VAPF’s apartments and villas in the heart of the Costa Blanca are a great opportunity. You are not far away from sunshine 365 days a year.

VAPF and travelling by car from Europe.

Llegar en coche a Cumbre del Sol

However, it may well be that with COVID-19 you’d rather travel to Alicante by road. While it’s true that it will take longer to reach your second home on the Costa Blanca, you will nevertheless gain in terms of peace and tranquillity instead of having to face the strict requirements of air travel. This is one advantage of buying a property in Alicante province rather than other Spanish locations, such as the Balearics or the Canaries.

In your own vehicle you can make the trip from Paris to Cumbre del Sol for example, in about fifteen hours, or eighteen hours from Brussels. But bear in mind that you will need to make the appropriate stops to rest if you’re going to drive for long periods, or make sure you share the driving. Patience, resting and some good conversation or music to make the trip more enjoyable are important as well.

VAPF and its connection with the rest of Spain

If the Costa Blanca is well connected with Europe, it’s no less than fantastic in terms of links with the main Spanish cities. In a little less than two hours you can travel from Alicante to Madrid in the AVE high speed train. That is also the time it takes to travel from Alicante to Valencia, where you can discover all the charms of the Valencia region. And we mustn’t forget the connection with Barcelona! You can be in the Catalan capital in little more than four hours.

Of course you can also make all these journeys by car. And not only that, but with the recent removal of tolls from the AP-7 motorway, you can travel to Barcelona from Alicante without paying a penny.

By buying your second home with VAPF, you will be able to connect with Europe and the rest of Spain in a speedy and simple manner. Whatever your favourite form of transport, the most important thing is that you can be sure your investment will mean peace and tranquillity.  And with VAPF you can be assured of that! Come and meet us and we’ll give you all the details of  our developments..

How to buy an off-plan property or a home under construction in Spain

In July we held a seminar as part of our series of webinars, in which we dealt with everything you need to know about the process of buying a VAPF home off plan or under construction. From the steps you need to take, to the advantages and disadvantages, and any other aspects you need to consider.

Helping us in this task were some experts in the field, namely Fuster & Associates law firm. They are specialists in the property market with over 20 years’ experience, and have a team of multilingual lawyers and tax consultants, with several offices on the Costa Blanca Norte. In Alicante province there are offices in Teulada and Finestrat, and also in Murcia province. in La Zenia and Los Alcázares.

In this blog post we share some of the advice that they gave us in the webinar.

The first steps to buying an off-plan home

The process of buying a house off-plan involves four basic steps.

  1. Firstly, the buyer needs to sign a reservation contract which is an undertaking to buy the property from the vendor, who will ensure that it will no longer be available to other buyers. In the case of VAPF clients, a deposit of 12.000€ is payable, and this will subsequently be deducted from the total price of the property.
  2. Once the property has been reserved, when the contract is signed, the buyer will pay 35% of the sale price of the house.
  3. While the house is being built, a further 35% of the total value will be paid.
  4. Finally, when construction is complete, the remaining 30% balance will be paid.

Views from Residential estate Jazmines at Cumbre del Sol

The agency contract

The first step in terms of bureaucracy is to sign the agency contract. On signature of this agreement one person entrusts handling of one or more services, commissions, formalities or negotiations to another person. In this case, the latter is the person who takes charge of these tasks on behalf of the former at their liability.

This contract can be drawn up in two ways, either in Spain or in the buyer’s country of residence.

If signature of the contract coincides with the buyer’s visit to Spain, at VAPF we offer to accompany the client to the notary and provide a translation service, if this is needed to understand the whole process. If you prefer to complete the procedure in your own country, we offer to find a notary close to your home. In this case, we prepare that trustee or agency contract in Spanish and also in the buyer’s mother tongue. When this has been signed, the contract will be returned to us and we proceed to the next step.

Obtain your own NIE

It is essential for our foreign clients when buying one of our homes to obtain their own NIE. This document stands for Número de Identidad de Extranjero, or Foreign Identity Number. You will need this document for any formality that you have to complete in Spain, from buying a property to opening a bank account. Not only that, it enables the Spanish Treasury to identify buyers.

Opening a bank account in Spain

Opening a bank account in Spain is another specific recommendation that we make to new clients, although it is not essential. However, with an account, buyers can keep a greater control over the costs of their property, as well as their subsequent contracts for electricity and water supplies, and telephone and internet services. They will also have more control over the taxes and fees that need to be paid.

We will continue in future blog posts with further details of the purchasing process with VAPF (taxes, guarantees, legal aspects …). For the moment why not take a look at all our available villas and apartments. For any queries or for further information, you can contact us by filling in this form.

At VAPF we help you to decorate the house of your dreams

Creating a unique home, the house of your dreams, involves several things, including style, materials, décor, furniture and fittings, and each and every one of these aspects has a role in creating your home, your haven, the place where you feel at peace, and where you are happy.

At VAPF we are experts in making your dreams come true, and our Custom Villas, as the name indicates, are bespoke homes, designed not only by VAPf’s team of architects, but also with the collaboration of an interior designer who is also on board to advise and assist.

A group of professionals who together will create a unique project that will become your home, with our team of architects, interior designers and of course, our construction department making the whole process easy for you.

There are several options available in your choice of interior design studio. At VAPF we can introduce you to the studios that we work with and you can select one that best matches your style or, if you prefer, you can choose your own interior designer.

villas-rodas-lirios-design

To help in the process of creating your own home, you can also view the VAPF show homes and take a look at the graphic material, images and videos of some of the houses that we have built in recent years, to give you an idea of the end result of our experts’ input and ideas, as with our experience and knowhow in building our Custom Villas, we can put lots of our ideas to you and you can see how they have turned out.

VAPF ‘s main offices serve as a base to meet up with all the experts at your service, and they will assist you in your own language and accompany you on your visit to interior design outlets, furniture shops, and will provide a comprehensive advisory service throughout the whole process.

When creating a customised home, teamwork is a must. This is why VAPF works with the chosen design studio as a team, all working together with the same goal, and we are confident that we will be able to surprise you and ensure that the end result will exceed your expectations.

lirios-design-villa-rodas

To learn more about the whole process and view a typical Custom Villas home, decorated with VAPF’s supervision and advice, together with one of the interior design and studios that we work with and trust, we invite you to view the images in this blog post. The photographs show images of Villa Rodas, part of our Lirios Design development at Residencial Resort Cumbre del Sol, a paradise on the Costa Blanca Norte.

We are always innovating, creating and designing, it’s in our DNA, and that is how we have managed to make our clients’ dreams come true over the last 58 years, so if you want all the latest news about VAPF, remember that you can follow us on Instagram and Facebook. You can also contact us directly by using the following form, as we want to make your dreams come true.

Automation: make your house a smart home

Nowadays, technology plays a major role in almost all the scenarios of our daily lives. In fact it is extremely useful in the home and increasingly, domestic appliances and systems are monitored for you. This gives you more free time and eliminates the risk of unforeseen events.

This is why in all our villas and apartments we offer an additional smart home automation service. Our aim is to make life as comfortable and easy as possible. Depending on the details, it will make your life easier and take the pressure off where some domestic tasks are concerned.

But what exactly is a smart home? If you haven’t heard of it, or you don’t know much about it, we can fill in the details for you. It is a set of automated systems for a house or a building. It deals with services such as energy management, security, wellbeing and communication. You can also control these systems from your home or remotely when you are elsewhere.

So there are clear advantages: more time, less worry and security in the knowledge that you can control every aspect of your home wherever you are. In our villas and apartments on the Costa Blanca Norte we offer various options for automating your home. We have something for everyone, from the simplest system to more complex versions.

We offer the most advanced systems in our exclusive villas. They have KNX smart home cable systems installed, which reduce interference and which are ideal for very spacious houses. The automation is so advanced that it controls every aspect of your home remotely. As a result, in the event of any incident or problem you would not have to go home to sort out the problem. For example, if there was leak in the plumbing, you could remotely cut off the water supply. Or if you left home and realised that you had left all the lights on, you could simply turn them off remotely.

Automated home systems cover a wide range of functions. One of the more basic services controls lighting, or the blinds and shutters. However, our additional service for the supply, integration and implementation of an automated smart home system goes much further. Raising blinds or controlling the home air conditioning and heating is a basic service that VAPF offers in all its villas. From there we also offer a completely personalised service in our Custom Villas. This includes security alarms, video surveillance, door access and stop cocks and shut off valves to supplies.

We want to ensure your total comfort and this is why we are all about innovation in our villas and apartments. So when you decide to buy one of our homes in Costa Blanca Norte, we will tell you all about our smart home service. In this way you can concentrate on the stuff that is really important to you. If you have any queries or questions, please contact us by filling in this form.

Our clients come first

At VAPF we are grateful to you and to all our clients. Every day we work to ensure and improve the comfort of our residents and of those yet to come. That’s why from the moment a client contacts us, we will be by their side providing anything and everything that they need. One of the first essentials is language, so at VAPF we make sure that we speak to every client in their own language.

And not only that, if you choose one of our villas or apartments that are still under construction, you can follow the whole process from day one. How? With our intranet for clients. We provide this service so that you can track developments in your new home with photographs and documents.

Once your home is ready for delivery, here at VAPF we make it all easy for you. The night before the keys are handed over, we arrange for you to spend the night in a hotel so that you get a good rest before the big day. When the moment finally arrives for the handover, we come along too and go over your new home with you. We also explain all the facilities and how everything works.

You can move in as soon as the keys are handed over because at VAPF we make sure that all the necessary formalities have been completed beforehand. We arrange for connection and payment of all the supplies and services to your new house. Not only that, should you need anything else in respect of your new home, we will also take care of it.

We want to make day to day living in your new home and our facilities as easy as we can. We love to see our residential homes filled with life and lively families. To make that easier, we provide our clients with help in the form of Lady Elizabeth School. Anyone who purchases a VAPF new-build will be eligible for discounts when registering and paying their child’s annual fees. And this just happens to be one of the best international schools in Spain.

We are aware that it is important to listen to the real experiences and accounts of our residents, as they are the veterans of our villas and our apartments. So we have provided our web site with a section where you can find the various opinions of VAPF clients . Here they tell us about how their day to day experience in our facilities and homes and how the Costa Blanca has changed their lives.

You can join them if you finally decide to choose one of our residential developments. If you have any queries, let us know using this form. Also if you follow us on Facebook and Instagram, you can keep up with all the latest news.