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      Want to try the BBVA app without being a customer?

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      How to buy a property

      Step by step towards your new home

      At BBVA, we support thousands of people every year who want to buy a home. In this guide, you will find the help you need to confidently move towards getting your new home.

      What you should know before buying

      • Is now a good time?

        It is important to analyze the real estate market and know how interest rates are evolving or which areas are in highest demand.

        What should I know before buying a house?

      • Buy as an investment

        It allows you to make your savings grow and protects you from inflation. And its value may increase if you want to rent it out or sell it.

        Buying a flat to rent, is it profitable?

      • Build your house from scratch

        If you own a plot of land and want to build your ideal home, you need a project, a construction company, and a building permit. And if you need financing, you can apply for a self-build Autopromotor Mortgage.

        Learn about the Autopromotor Mortgage

      First, calculate how much you're going to need

      • Which house can you afford?

        Start by calculating the price of the house you could buy based on your income. With this figure, you will know which neighborhoods are within your reach and it will be easier to start looking for new or used homes.
        Calculate price
      • What is your budget?

        Please note that:

        • You should have saved around 30% of the price of the house (the deposit and the expenses and taxes).
        • Ideally, the monthly payment should not exceed 35% of your income.
        Is it possible to save more?
      • What expenses are you going to have?

        • The purchase and sale: notary, taxes and inscription in the Property Register and administrative.
        • The mortgage: the bank assumes the notary, inscription and administrative expenses; the appraisal, the registry report and the copies of the deeds are your responsibility.
        • The house: insurance, maintenance, service charge, IBI (property tax) and even renovation, if necessary.
        What taxes do you pay when buying a house?

      Take your time to decide which home to buy

      Calculate the value of the house

      • This way you will be able to find out the approximate value before the appraisal and discover if the purchase price is similar. 
      • When you apply for your mortgage, you need to appraise the property.If the appraised value and purchase price don't match, the lower of the two will be used as a reference.
      • The bank can finance up to 80% of this amount if it is your main home (up to 70% if it is a second home) or up to 95% if you are under 35.
      Calculate the value of a house
      How to negotiate the price of a home

      Keys to choosing the best new home

      • What should you look for?

        When you visit each house, check the condition of the house inside and outside (orientation, light, noise, distribution, building, etc.).
        What should you ask when buying a house?
      • What is the neighborhood like?

        It is also important to know the neighborhood, see if it has good access, and even compare the price with other houses in the area.
        Review neighborhood
      • New or existing home?

        Older homes may be cheaper but need renovation, new homes are typically more efficient... We help you to make the best decision.
        Compare options

      If you've already found a house, start the initial paperwork

      • Gather information about the house

        The land registry report (nota simple) will tell you who owns the house, and if there are any charges against it. You should also request the energy certificate from the seller and, if possible, assess the condition of the building to avoid any surprises later on.
        How to request a registry report
      • Reserve it with an earnest money agreement

        If everything is in order, you can negotiate the price and make a counter-offer. If the seller or agency accepts, you just need to sign an earnest money agreement to agree to continue with the process.
        How the earnest money agreement works

      Meanwhile, you can simulate and choose your mortgage

      These are some of the mortgages we offer at BBVA
      • Fixed Rate Mortgage

        To avoid any surprises

        You will have the peace of mind that comes from paying the same interest rate every month, with no increases.

        Calculate mortgage
        More information
      • Hipoteca Joven

        For people under 36

        If you're under 36 and looking for a mortgage, BBVA finances up to 95% of the property's value.

        Calculate mortgage
        More information
      • Hipoteca Colectivos

        For professional groups

        If you work for the Public Administration or a company with an agreement with BBVA, belong to a mutual society or have a registered profession, you can get better terms for your mortgage.

        Calculate personalized price
        More information
      • Variable-Rate Mortgage

        To adjust to the market

        Learn about the features of our variable-rate mortgage, with an interest rate that is reviewed periodically.

        Calculate mortgage
        More information

      This way you can pay less on your monthly installments

      Banks generally offer interest rate discounts if you take out certain products or fulfill other conditions. Here's how you can reduce your BBVA installment:

      • Set up direct deposit of your salary, pension, unemployment benefit or self-employed contribution in the BBVA account of one of the account holders.
      • Take out a comprehensive home insurance policy to protect the property against unforeseen events.
      • Take out loan repayment insurance, covering at least half of the amount of your mortgage. If the 50% exceeds €150,000, this amount is enough.
      How to pay less for your mortgage

      Already have a mortgage and want to improve it?

      Carry out a no-obligation switching lender simulation and see what conditions you could improve by bringing your mortgage to BBVA.
      Calculate mortgage switch
      What does it mean to switch mortgage lenders?

      With you every step of the way: from the mortgage application to the signing at the notary's office

      • Documents

        The adviser will ask you for identification and financial documents: paychecks, contracts, proof of income…
      • Review

        Your documents will be reviewed to see if your application is financially viable.
      • Appraisal

        At this stage, the updated appraisal and registry report of the property is required.
      • Signed

        You receive the documentation and go to the notary's office for advice and the issuance of the transparency certificate, and then to sign the mortgage.
      How to apply for a mortgage

      Your application, faster from the app

      Follow your mortgage application step by step from your cell phone in Espacio Hipoteca. Whether you are a customer or not, you can:

      • View the status of your application in real time.
      • Upload documents and speed up any outstanding processes.
      • Talk to your adviser and resolve any doubts you may have.

      To access without being a customer, register in just a few steps. In addition to Espacio Hipoteca, you will enjoy other features for your daily life.

      Register
      Do calculation

      Now you have your house! Now it's time to prepare for your arrival.

      • Utility connection

        Bear in mind that some may need to be installed beforehand, such as gas or internet.
        How much does it cost to connect the electricity?
      • Set up direct debits for bills

        This means the house's bills and taxes will be in one account. At BBVA we help you to transfer them easily.
        How to direct debit your bills
      • Organize expenses

        With our Financial Health tools, we help you plan your daily spending and save without even realizing.
        Compare options

      Renovate to save money and improve quality of life

      If you have bought an existing home and want to live there, make the most of it to renovate to your liking:

      • If you improve your house's energy efficiency (thermal insulation, windows, sustainable heating, etc.), you will reduce your energy consumption.
      • You will have to comply with the current regulations when making functional changes: structure, heating, electricity, plumbing, exterior...
      • To finance your renovation, you can apply for a loan. At BBVA, there are special loans available for this purpose.
      Calculate renovation loan
      See sustainable products

      Moving forward together towards your new home

      If you haven't decided yet or you have doubts, a BBVA representative will contact you for guidance, with no strings attached.
      Request information

      Some questions that may come up

      The purpose of this guide is to explain, step by step and in simple terms, how a house is purchased, whether a new or existing home.

      The guide also explains all the procedures needed to buy the house, the types of mortgage to choose from, plus the necessary calculations with our calculators, to see the monthly mortgage payment.

      If you have already found your ideal home and you want to buy it, follow these steps to apply for a mortgage at BBVA:

      1. Calculate your mortgage to find out how much it would cost a month and how much you should have saved.
      2. If the numbers add up, send us the application. We will contact you to request the necessary documents.
      3. If necessary, you will have to appraise the home to calculate its real value and the final amount of the mortgage.
      4. If your mortgage is approved, we will take care of the necessary paperwork.
      5. With everything ready, you just need to sign before a notary.

      You have three tools that will make the process easier:

      • BBVA Valora, to find out the approximate value of the house you would like to buy.
      • Mortgage calculator, to find out how much you need to have saved and how much you would pay per month for that house you like.
      • Lender switch simulator, to find out how much you could improve your mortgage by bringing it to BBVA.

      If you work for the Public Administration or a company with an agreement with BBVA, belong to a mutual society or have a registered profession, you can get better terms for your mortgage. Learn more!

      Of course! To do this, fill in the form at the following link, and someone from the BBVA team will contact you. 

      Go to form

      The process of buying a house can vary between 6-12 months, depending on factors such as calculating the budget, finding the right home, collecting the necessary documents, choosing and formalizing the mortgage with the bank and signing the deeds before the notary.

      The taxes you have to pay when buying a property are:

      • If the property is newly built, the VAT is paid (usually 10%), except in the Canary Islands, where IGIC is paid (usually 6.5%). You also have to pay the IAJD (or stamp duty), which depends on each autonomous community.
      • If the property is pre-existing, the ITP (Property Transfer Tax) is paid, at a cost (a percentage) established by the autonomous communities.

      On the one hand, both VAT and IGIC are paid directly to the seller, together with the money that is given to them when buying their home. They are responsible for paying it to the Tax Authorities. On the other hand, ITP and IAJD are paid to the Tax Administration of the autonomous community in which the property is purchased.

      The notary expenses paid when buying a home, based on the Civil Code (and unless the buyer and the seller have agreed otherwise), are divided as follows:

      • The expenses arising from the deed are paid by the seller.
      • The expenses of the first copy, and those subsequent to the sale, must be paid by the buyer.

      The steps to be taken when buying a new home in Spain are not the same as when buying a used (or second-hand) home. Although there are similarities between the two cases, like setting a budget, searching for a home within that budget, and selecting a mortgage type to finance it, there are also important differences. These include the required documentation and the various expenses and taxes that need to be paid.

      So, you are recommended to take into account, in each case, the procedure to be followed.

      Can we help you?
      1. Mortgages
      2. Step-by-step guide to buying your home
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