Tips for Buying a Property in Nerja: A Comprehensive Guide

29 de May de 2023
Comprar una propiedad en Nerja

Purchasing a property in Nerja can be a dream come true, but it can also be a labyrinth of complex decisions and bureaucratic procedures. If you’re considering investing in our charming municipality in the south of Spain, this article is for you.

From choosing the perfect location to understanding additional expenses (which can reach up to 10%), we’re going to give you the best advice to facilitate your path towards buying a property in Nerja.

Remember, having the guidance of real estate experts like us at SM Real Estate Nerja can make this process much easier and more profitable for you.

1. Choosing the ideal location in Nerja according to your preferences and needs

Beach, Mountain, Historic Centre - The Options are Endless

Each place in Nerja has its own charm. If you’re drawn to the sound of waves and the sea breeze, properties near the beach may be ideal. On the other hand, if you love tranquillity and green spaces, a house in the mountains could be the best choice. Are you a history and culture aficionado? The historic centre of Nerja could capture your heart.

Your needs and lifestyle dictate the choice

The key is to consider your needs and lifestyle. For example, if you have a family with young children, proximity to schools and parks may be crucial.

2. What type of property suits you best in Nerja?

Apartment, House, Villa - Advantages and disadvantages of each option

Apartment or flat: an urban lifestyle
Apartments are ideal for those seeking an urban and practical lifestyle. They generally require less maintenance than houses and are usually in central locations. They can also be found in developments outside the city centre.
House: space and privacy
Houses offer more space and privacy, often coming with their own garden or patio. However, they may require more maintenance and can be more expensive.
Villa: the luxury of tranquillity
Villas offer maximum privacy and luxury, but they are typically the most expensive and may be located further away from urban amenities.

3. How to find the best deals and negotiate the price in Nerja

Finding a property at a reasonable price can be a challenge. This is where SM Real Estate Nerja can help. We have a team of experts who know the local real estate market like the back of their hand and will find you the best properties at the best price.

4.Documents and legal procedures: avoid fraud and problems

Make sure all documents are in order

It is essential to ensure that the property you are interested in has all the necessary permits and certificates. This is a crucial step to avoid future legal problems and ensure a safe transaction.

Firstly, you should verify the legitimacy of the seller. This can be done by checking the property deeds, which prove legal ownership. Additionally, the updated “nota simple” from the Property Registry will give you information about the current ownership, any charges or liens the property may have, and the exact description of the property.

The energy certificate is also vital. This official document indicates how much energy the property consumes and how much CO2 it emits per year. Since 2013, it is mandatory in Spain to have an energy certificate to sell or rent a property.

You should also verify if there is any outstanding debt with the community of neighbours. If there is, the new owner, i.e., you, could be responsible for paying up to a year’s worth of overdue fees.

Another factor to consider is the Property Tax (IBI). This is a municipal tax that every property owner must pay annually, and its amount varies depending on the value of the property and the municipality in which it is located.

As with the community debt, if the previous owner has not been up to date with IBI payments, the responsibility of paying the arrears could fall on the new owner. Therefore, it is crucial to verify that the property is up to date with IBI payments before closing the purchase. A trustworthy lawyer can help you review this, providing greater security and peace of mind in your investment.

The importance of a trustworthy lawyer

We highly recommend hiring a trustworthy lawyer to represent you during the purchase process. A lawyer will not only help you verify all documents and permits but can also provide invaluable advice on the taxes you will have to pay.

Depending on whether you are buying a new or second-hand property, the taxes will vary. In the case of second-hand homes in Andalucia, you will have to pay the Property Transfer Tax (ITP), which is 7%. On the other hand, if you buy a new property, Value Added Tax (VAT) will be applied.

5. How to finance the purchase of your property in Nerja

The options are varied, from mortgages to rent-to-buy options. It is essential to research and compare different financial products to find the option that best suits your circumstances.
6. Taxes and additional costs when buying a property in Spain
Hidden costs

In addition to the purchase price, you should consider taxes, notary fees, registration expenses, and real estate agency fees.

Reducing costs to a minimum

There are ways to minimize these costs, such as negotiating the agency fees or looking for a property that is already registered.

In conclusion, buying a property in Nerja can be an exciting and rewarding process if you are well prepared and have the advice of real estate experts in the area. At SM Real Estate Nerja, we commit to helping you every step of the way, from finding the ideal property to handling all the paperwork and bureaucracy.