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Buying a property in the beautiful Costa Brava is a dream for many, but to ensure that dream doesn’t turn into an unpleasant surprise, it’s essential to be well-informed about the hidden costs that may arise during the process. At Immogrupstar, as real estate specialists, we want to help make this process transparent and hassle-free.

1. Taxes: Beyond the Sale Price

When thinking about costs when purchasing a property, the first thing that comes to mind is the purchase price. However, one of the main hidden costs is taxes, which vary depending on the type of property you’re buying:

• Property Transfer Tax (ITP): Applies to second-hand properties and typically ranges from 8% to 10% of the purchase price.
• VAT and AJD (Stamp Duty): For new properties, you’ll pay 10% VAT plus around 1.5% for AJD.

These costs can significantly add to the final price of the property. It’s advisable to consult with a real estate agency in Costa Brava to understand these details and receive personalized advice.

2. Notary and Registry Fees

The act of formalizing a property purchase involves going to a notary to sign the public deed. Notary fees depend on the property price but typically range between €600 and €1,000.

Once signed, the deed must be registered in the Property Registry, which incurs an additional cost of around 0.5% to 1% of the property price. This step is mandatory and ensures the property is registered under your name.

3. Property Appraisal

If you need financing for your purchase, the bank will require a property appraisal. This process is typically paid for by the buyer and costs between €300 and €600, depending on the size and characteristics of the property. This cost is crucial for determining how much the bank is willing to lend you.

4. Mortgage Fees

When applying for a mortgage, you may need to cover certain associated costs, such as an opening fee, which can amount to up to 1% of the total loan. While regulations have reduced some mortgage-related costs, such as notary and management fees, it’s important to review the specific conditions of each bank.

5. Unexpected Repairs or Renovations

When buying a property in Costa Brava, especially a second-hand one, additional costs related to repairs or renovations may arise. Although everything might appear in good condition during initial visits, it’s advisable to hire a professional to conduct a thorough inspection before completing the purchase.

6. Maintenance Costs

Once the purchase is completed, you need to account for recurring costs, such as:

• IBI (Property Tax): An annual tax based on the cadastral value of the property.
• Community Fees: For apartments, this cost can vary depending on the services included (e.g., pool, gardens, concierge).
• Home Insurance: Mandatory if you have a mortgage and highly recommended in any case.

If you’re considering the purchase of an apartment in Costa Brava, these costs are especially relevant for communities with luxury services.

7. Real Estate Agency Fees

Hiring a trustworthy real estate agency not only saves you time but also avoids costly mistakes. At Immogrupstar, our experience allows us to guide you through every step of the process, ensuring you encounter no surprises. Our fees are completely transparent from the start, so you can plan your budget with peace of mind.

8. Ownership Transfer Costs

Finally, when acquiring a property, you may need to pay for the transfer of ownership for basic utilities such as water, electricity, or gas. These procedures are usually inexpensive but should be included in your budget.

Conclusion: A Smart and Surprise-Free Purchase

Purchasing a property in Costa Brava is a significant investment that deserves careful planning. At Immogrupstar, we work to ensure every client enjoys a smooth buying experience, helping you find the best houses for sale in Costa Brava or guiding you in the sale of apartments in Costa Brava.

If you have any questions about hidden costs or any other aspect of the process, feel free to contact us. We’re here to help make your dream of living in this paradise come true.