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Costs of Buying A House

gastos de comprarse una casa chg

When you make the decision to buy a property, and turn it into your home, you have to take into account everything it entails. And that’s why in order not to have any surprises and problems that could tarnish this great moment, you’ll get from us all the information (in the clearest possible way) what the costs of buying a new home are. You will no longer have doubts!

Costs of buying and selling a property

Notary fee

The notary is very important when making the sale and purchase agreement. He is in charge of testifying to this agreement, drawing up the public deed of sale and advising you on everything necessary.

His presence is not mandatory, as the agreement can be concluded between the buyer and the seller, unless the buyer requests a mortgage. In this case his presence would be mandatory, as the mortgage law provides for it.

gastos de comprarse una casa chg

Property registration

Once the public deed is done by the notary, it must be entered in the Property Registry, which also entails a cost. The amount varies depending on the price of the property.

Sales taxes

Within these taxes, a distinction must be made, since they will not be the same if the property to be purchased is new or not.

If it is new, the most important tax is VAT. But you must also add the tax of documented legal acts, which is the tax that is generated by signing the agreement at the notary’s office and registering it in the Property Registry. The amount of the latter tax will depend on the Autonomous Community.

On the other hand, if the property is not new, the most important tax you should take into account is the transfer tax (ITP).

gastos de comprarse una casa chg

Remuneration of specialists

The latter is not an obligatory cost that you must assume, but it is highly recommended. They are professionals who are responsible for managing all taxes and paperwork and will help you to get rid of your work.

Mortgage fees and costs

As we mentioned at the beginning, it is not the same amount of expenses to buy a property with or without a mortgage. In this case, it would be necessary to add some additional expenses to those previously mentioned.

The most important are: a property valuation cost (so that the bank knows what percentage it can grant), the signing of the final mortgage loan documents (which also involves notary fees), and the loan origination fee (depends on the bank).

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