How to Buy a Property in Alicante: The Ultimate Guide

Are you looking to buy a property in Alicante? If so, then you are in the right place! Alicante is a sunny gem on Spain's Costa Blanca. Alicante has grown in popularity as a destination for expats from all over Europe, as it is situated on the Costa Blanca South along the Mediterranean Sea in southeast Spain. It offers an attractive combination of stunning beaches, rich history, and lively culture. Whether searching for vacation homes or luxury estates in Alicante Valencia, this comprehensive guide will walk you through the necessities and essential steps of buying property in Alicante, ensuring you make informed decisions at every step. 

Step-by-Step Guide to Buying Property In Alicante

Check out the following steps for buying property in Alicante: 

Step 1: Examine your needs before purchasing real estate in Alicante

Before beginning to search for property for sale in Alicante, booking a consultation with knowledgeable and trusted Spanish property agents is helpful. We can utilize our expertise and experience to help you choose the best location and property to match your needs. As a starting point, try considering the following things:

Affordability & Budget: The property price will vary from location to location, so budget is a good starting point. This is also possible if you need a Spanish mortgage, and agents can assist you with mortgages in Spain.

Distance from the Beach, Town, & Amenities: What is your acceptable travel distance?

Property Dimensions and Specifications: How many bedrooms do you need? Do you want an outdoor space? Do you prefer a private or shared pool?

Additional personal needs: You might wish to be near a golf course, a recreation center, the airport, schools, etc.

The answers to the questions mentioned above will decide the ability of real estate agents to advise you on the places and properties that will best meet your needs.

Step 2: Make a Travel Visit To Spain

Once you've decided which houses you want to see and know what you're looking for, it's time to visit Alicante. Please check the availability of real estate agents before booking anything, such as flights or a hotel. 

Step 3: Now you have found the perfect property in Alicante

A reservation fee of between €3000 and €6000 is needed to secure your selected property. The total cost of the property includes this reservation fee, which can be paid with a bank transfer or a credit card. You must sign reservation paperwork indicating your confirmation of your intention to buy the property. The builder also signs to accept the sale. The next step is to meet with the legal team when the reservation money has been paid and the contract has been signed.

The legal team will supervise the following:

• Obtaining your NIE numbers: This term stands for número de identificación de extranjero (foreign identification number) and is vital for opening a bank account, purchasing property, getting mortgages, and connecting utilities.

• Creating a power of attorney in Spanish: This will be your lawyer, and they will be able to supervise the property purchase while you are at home.

• Analyse purchase contracts and manage deposits and all-stage payments.

• Complete the property and manage any finishing fees.

• Setting up and maintaining electricity and water meters.

• Establishing direct debits for electricity and water.

Before you can buy property in Alicante, you will need to apply for a Spanish bank account. The expert real estate agent will assist you in opening a bank account to make the entire procedure as simple as possible.

Step 4: When you return to your house

When you return home, your Spanish legal team will manage any essential payments to the builder. We will keep you informed about the status of your home purchase and provide frequent updates until it is completed. The keys to your new house should be picked up on your next flight to Alicante.

Cost of Purchasing in Alicante

Following are the approximate purchase price for buying a property in Alicante:

• The current VAT (IVA) rate is 10%.

• Actos Jurídicos Documentados, or AJD local tax, is 2%.

• The purchase price will determine the notary fees, but budget €1000.

• Allow €500 for land registry fees to change the property's legal owner.

Final Thoughts

As mentioned in this guide, buying real estate for sale in Alicante Valencia is an exciting and overwhelming journey that requires careful planning and well-informed decisions. Every step is crucial to guaranteeing a seamless experience, from identifying the ideal house and completing your purchase to understanding the local market and regulatory requirements. If you have any queries about property for sale in Alicante, where to buy in Spain, or anything else, please find a trusted real estate agent. With this comprehensive guide, you'll be ready to invest smartly and take advantage of everything Alicante offers!