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Moving costs.

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Posted: Sat Jun 8, 2019 9:25pm
32 replies1962 views13 members subscribed

Hi,

Now I'm retired, we are thinking of moving to Torrevieja next year after renting first and getting to know the area.

I have to do a fair bit of research but I hope you can help me with this question. I read somewhere that the costs associated with buying a Spanish property are "hefty".  Can anyone tell me approximately how much I would have to add to a £150,000 purchase price?

Thanks,

Tony and Michelle

271935

271935

Very helpful member

Sat Jun 8, 2019 10:11pm

Posts: 848

Location: Villamartin

630 helpful posts

Posted: Sat Jun 8, 2019 10:11pm

12.5 - 13% Extra  

Stamp duty and all legal conveyancing fees

TonyChelle

TonyChelle

Original Poster

Sat Jun 8, 2019 10:56pm

Posts: 9

Location: Torrevieja

Posted: Sat Jun 8, 2019 10:56pm

Thank you, that is quite hefty, almost £20,000 on an £150,000 purchase. 

271935

271935

Very helpful member

Sat Jun 8, 2019 11:15pm

Posts: 848

Location: Villamartin

630 helpful posts

Posted: Sat Jun 8, 2019 11:15pm

10% Stamp Duty. Bit steep compared to the UK.

TonyChelle

TonyChelle

Original Poster

Sat Jun 8, 2019 11:36pm

Posts: 9

Location: Torrevieja

Posted: Sat Jun 8, 2019 11:36pm

Just a bit lol, £15,000 in Spain, £500 in the UK on an £150,000 property. I had. no idea it was so expensive, thanks for the info.

Dlrsantapola

Dlrsantapola

Helpful member

Sun Jun 9, 2019 8:59am

Posts: 291

Location: Santa Pola

232 helpful posts

Posted: Sun Jun 9, 2019 8:59am

Not a lot of people do realise all the add one , they watch TV programmes like a place in the sun but they never say they need an extra say 13% on top of asking price l!! Bit of a shock to the system !!.

TonyChelle

TonyChelle

Original Poster

Sun Jun 9, 2019 9:46am

Posts: 9

Location: Torrevieja

Posted: Sun Jun 9, 2019 9:46am

Yes, you just described me lol

Malvy

Sun Jun 9, 2019 11:14am

Posts: 2

Location: Catral

4 helpful posts

Posted: Sun Jun 9, 2019 11:14am

Just buying myself, am I right in saying there is VAT on the stamp duty, @ 20% , another 3000 Euros, that's why you need to add at least 13% on to the cost, also if buying for less say 80000 Euros due  to fixed costs , you probably need to budget 15%   extra I stand to be corrected.

271935

271935

Very helpful member

Sun Jun 9, 2019 11:24am

Posts: 848

Location: Villamartin

630 helpful posts

Posted: Sun Jun 9, 2019 11:24am

No incorrect.

10%  Stamp duty no vat.

Roughly 1300 -2000e for legal fees and notary 2-3%

Its only 15% if your getting ripped by the solicitor managing the purchase

Malvy

Sun Jun 9, 2019 11:49am

Posts: 2

Location: Catral

4 helpful posts

Posted: Sun Jun 9, 2019 11:49am

Love to be corrected if it is saving me money. Statement not very clear , was going to contact solicitor tomorrow to clarify so you have saved me a job. Thanks for that. Sure this is what the forum is all about, everybody helping each other, also sometimes not having to wait over weekends to get an answer. Thanks again 271935 .

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