Expenses when Buying a Home in Spain:
What You Need to Know

Thinking about buying a home? If you feel overwhelmed by all the related costs, don't worry. We give you all the information you need to make the best decisions... and even save!

costs of buying a house

Questions we answer on this page

How much can I afford to spend on buying an apartment in Spain?

What costs, taxes and commissions are paid when buying a house in Spain?

How can I reduce costs when buying a house in Spain?

How much money can I afford to spend on buying an apartment in Spain?

There are many factors to consider when setting a realistic budget to avoid surprises, such as your borrowing capacity or how much all the overhead will cost.
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To instantly calculate how much money you need and how much you can afford to spend each month on your mortgage, we recommend using an online calculator such as Hipoo.

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What is the maximum price I can afford?

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Key Conclusion

The easiest way to find out your budget for buying an apartment is to use an online calculator. This tool considers all the expenses involved in the purchase, giving you a complete picture of your financial possibilities in minutes.

What costs, taxes and commissions are to be paid when buying an apartment in Spain?

When buying a home, it is crucial to consider both upfront and recurring costs. In addition to the down payment and mortgage, there are other hidden costs such as property registration and real estate appraisal. Knowing these costs and their approximate amount is fundamental to adjust your budget and avoid surprises or unnecessary expenses.

Real estate purchase consultation

How much do I have to save to cover the initial purchase costs?

Before buying, you need to have savings to cover initial costs, such as down payment, taxes or agency fees.

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What are the recurring costs of owning a home in Spain?

These are the regular costs that any homeowner in Spain has to pay on a monthly or annual basis.

Key conclusion

Buying a house in Spain is not just about paying the down payment and taking out a mortgage. There are also different taxes, fees and commissions that vary depending on the type of property, the city and the buyer's profile.

Read more in our blog

See the list of all costs >
Are you buying using cash? >
Are you buying with a mortgage? >

What costs, taxes and commissions are to be paid when buying an apartment in Spain?

When buying a home, it is crucial to consider both upfront and recurring costs. In addition to the down payment and mortgage, there are other hidden costs such as property registration and real estate appraisal. Knowing these costs and their approximate amount is fundamental to adjust your budget and avoid surprises or unnecessary expenses.

How much do I have to save to cover the initial purchase costs?

Before buying, you need to have savings to cover initial costs, such as down payment, taxes or agency fees.

What are the recurring costs of owning a home in Spain?

These are the regular costs that any homeowner in Spain has to pay on a monthly or annual basis.

People working on laptops and looking at documents
People working on laptops and looking at documents

Key Conclusion

Buying a house in Spain is not just about paying the down payment and taking out a mortgage. There are also different taxes, fees and commissions that vary depending on the type of property, the city and the buyer's profile.

Read more in our blog

How much money do I need to have saved to buy an apartment?
What are the costs of buying a house in Spain?

How can I reduce costs when buying a house in Spain?

To reduce costs when buying a house in Spain, the most effective way is to negotiate the price of the property. With a lower purchase price, a significant reduction in costs is also achieved, since many of them are calculated based on the final value. The most advisable is to be accompanied by an expert who knows the market and knows how to negotiate, to get a good discount and save money on both the initial and recurring costs.
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EXAMPLE OF SAVINGS ACHIEVED THROUGH NEGOTIATION

Considering the initial price of a house as 360.000€, you could save 10% on average, thus paying 324.000€ thanks to the negotiation of a Nomad Homes expert.

Property Hunting

Buy on your own

INITIAL COSTS: €120,990*.

extra effort and time

*Initial costs. Recurring costs have not been added, since they depend on multiple factors.

Property Price Negotiation

Shop with Nomad

INITIAL COSTS: €109,686*.

saving with nomad homes

*Initial costs, 9.3% lower due to expert negotiation. Recurring costs have not been added, as they depend on multiple factors.

Result: a lower total cost thanks to having an expert on your side.

Key conclusion

You can save thousands of euros if you manage to negotiate a lower purchase price. For greater savings, it is advisable to rely on an expert who masters the negotiation and uses specific techniques and information to lower the price as much as possible.

Read more in our blog

How much money can you save by buying a home with Nomad Homes?

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