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TIPS TO TAKE INTO ACCOUNT BEFORE BUYING A HOME

The search for a home is quite an adventure. Price, location, payment method, common areas... There are so many things to take into account that you may not even know where to start.

At Berkshire Hathaway HomeServices Spain we want to give you some tricks so that you don't miss anything when the time comes to buy a home.

10 aspects to consider when purchasing a home

The location of the property, the quality of the materials and the characteristics of the common areas are just some of the elements that you should look at if you have made the decision to buy a home:

Location

The situation of the home is a fundamental part that you should analyze before diving into the purchasing process. Aspects such as noise and the presence of bars and clubs can disturb the peace during your days at home, so try to avoid them.

On the other hand, it may be essential that the home has public transport, sports areas, schools and hospitals in the vicinity.

Facade

When buying a house we focus so much on the interior that sometimes we can forget about the exterior. Before paying attention to the details, make sure the façade is in good condition or if, on the contrary, it needs renovation.

Qualities

All properties must meet a series of quality requirements. Although your real estate agent will tell you what they are, it doesn't hurt to also take a look at them yourself. Check the quality of the materials, carpentry and windows and don't hesitate to ask any questions you need. Remember that these are important things!

Reforms

Whether the house needs urgent renovation or you simply want to make it your own, you will need to make sure that it is possible to do what you have in mind. Check the renovations you would like to do and see what the result would be and how much it would cost you. Being able to personalize your home is an added value that you don't want to miss.

Common zones

Many properties are equipped with spaces designed to improve the quality of life of the owners, such as sports areas with paddle tennis or tennis courts, gym, swimming pool, areas for the little ones with gardens and swings, furnished terraces and even beauty salons, among other services. Ask about the common areas to make sure they meet all your needs.

Community fees

If your sights are set on a community, don't forget that you will have to pay additional expenses every month. Check how much they cost and you will avoid unexpected surprises.

Price

Does the price of the home you are interested in buying adjust to the market? Analyze the price of other similar properties and consult the price with your real estate agent to make sure it is appropriate.

Energy consumption

A home that makes efficient use of its facilities and maximizes the use of renewable energy can mean both energy and economic savings in heating, cooling and hot water, mainly.

Expenses and taxes associated with the purchase

During the purchase there will be a series of expenses that you will have to face. Knowing them will save you time and complications:

Value Added Tax or VAT: must be paid for any first transfer of property.

Tax on Property Transfers and Documented Legal Acts or ITPADJ: payment is made at the time of writing.
Municipal capital gains: this tax, also known as the Tax on the Increase in the Value of Urban Land, is municipal, will be borne by the seller of the home and will vary depending on each municipality.

IBI

When the home is definitely yours, the Property and Real Estate Tax or IBI will be your responsibility. Its amount will depend on the cadastral values of the home and the payment will change depending on the municipality where the property is located.

Published: 27 May 2024
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