Imagine living on the beautiful Mediterranean coast in the south of Spain. While you can rent a place, you may want to purchase property in Spain to make that dream come true.
Before you do that, consider what you’ll need to do after you find your perfect home. Read on to learn about some crucial steps to take.
1. Get Copies of All Relevant Documents
One of the first things you should do after buying a property in Spain is to copy any relevant documents. You can make physical copies that you store in a filing cabinet somewhere in your home.
However, it doesn’t hurt to also scan your documents and store a copy of everything in the cloud. If you ever need to make upgrades to the property, you may need to prove you own it.
Of course, you’ll also need copies of these documents when you decide to sell the home. While you should keep the originals, having copies means you should always be able to find the information you need.
2. Obtain Property Insurance
Another vital step after buying a home in Spain is to purchase property insurance. You can buy the insurance as soon as the home is officially yours, so don’t wait too long.
Property insurance can protect you in case something bad happens to your home. You can protect the home itself as well as your belongings inside and your civil liability.
Be sure to compare a few property insurance policies. Then, you can choose one that offers the coverage you need based on the size of your home.
3. Schedule Renovations
When viewing a property, you may notice some changes you’d like to make. If you purchase a home and want to do some renovations, get those done before you move in.
This is particularly important if you want to repaint some of the walls or replace appliances or countertops. While you can make those changes after you move in, it will be a lot harder.
You can maintain your current residence while you complete any renovations. Then, you won’t have to worry about moving furniture around or having to live in a space that’s under construction.
4. Set Up Utilities
When moving to Spain, you’ll also want to set up your utilities before your move-in date. Be sure you contact companies regarding gas, electricity, and water.
You can also set up an internet connection so that you can work or access the internet for personal use at your home. Look into a few different internet companies and plans to find the cheapest option.
If your home has an air conditioning unit, you may also want to schedule a maintenance appointment. That way, you can make sure it’s up and running efficiently.
5. Consider Upgrading the Security
After you get the keys to your property, you may want to change the locks. While the prior owner should have given you all of the keys, you never know if they may have accidentally kept one.
It also helps to check the security alarm system and to update it if it’s a few years old. You can even add a webcam doorbell and other security safeguards.
Marbella is relatively safe, but you never know what might happen. Especially if you’ll be living alone, it doesn’t hurt to take a few extra steps to ensure you and your home will be safe.
6. Check the Smoke and Carbon Monoxide Detectors
If you haven’t done so already, you should also check the status of the smoke and carbon monoxide detectors. Make sure each one has batteries and is in working condition.
You can then shop for replacement batteries or new detectors if any aren’t working. Get a smoke detector for each room of your home so that you can quickly know when there’s smoke.
As far as carbon monoxide detectors go, you can get one for each floor.
7. Shop for Furniture
One of the more enjoyable steps to take when buying a property in Spain is to buy some furniture. If you’re moving to Spain from a different country, you may not be able to bring much.
In that case, you’ll need to buy a bed, couches, chairs, and tables. Consider how many rooms your home has so that you can buy enough stuff to fill it.
Even if you currently live in Spain, you might have a much smaller home. You may still need to buy an extra couch or a guest bed if your new property is larger.
8. Prepare for Taxes
When you own a home in Spain, you have to pay property taxes. The country charges a few taxes, some of which you must pay when you make the purchase.
After you buy the home, you’ll also have to pay a yearly property tax, called Impuesto sobre Bienes Inmuebles (IBI). In Marbella, you can expect to pay around 1,000 to 10,000 Euros per year.
Be sure to register your property so that you can set up this tax and avoid penalties. You’ll want to account for this cost in your annual budget.
9. Dedicate a Special Emergency Fund
Along with property taxes, you may have to pay for repairs or upgrades. To help prepare for these costs, consider starting a separate emergency fund.
Set aside a bit of money each month for home repairs or renovations. Then, when something breaks and you need to hire a professional, you’ll have the funds ready to go.
Now, you can keep this fund with your overall emergency fund for if you lose your job. However, keeping it separate can help you keep track of your spending in each category, especially if you want to eventually redo the entire property.
Buy Your First Property in Spain
If you want to live in paradise, you should consider buying a property in Spain. However, you should also know about a few vital steps to take after the purchase goes through.
Then, you can make sure your home will be safe for you to live in. You can also prepare for expenses like taxes and repairs.
Do you want to move to the gorgeous city of Marbella? View the properties we have for sale.