Buying The Villa
Making the decision to purchase a villa in Costa Nova was the easy part, and buying the property had its twists and turns but thankfully, Mike at Solimarvillassales.com helped to smooth out the bumps and we eventually purchased the villa we wanted. Probably the most stressful part was finding the villa that would suit our family needs. Luckily, we found the perfect property, of course with much assistance, but it was well worth the stress.
Before I go into some detail about buying our dream villa, I can’t help but elaborate a bit on how beautiful it is. Our Costa Nova villa is newly built with a constructed area of 322.40m2, and laid-out in a way that’s suits our family perfectly. We have 5 bedrooms, one in each wing of the lower-level, and the fourth and fifth in the tower upstairs. There are also three bathrooms, one en-suite for the main bedroom, and two downstairs. There is an open living room and dining room space that connects to the kitchen area, which in turn grants access to a covered veranda and swimming pool area. It’s fully equipped with modern energy efficient appliances as well. The spotless white walls offer a fantastic canvass for any type of furniture style, textures, and colours. This is great for the kids’ bedrooms because they can choose a variety of colours and other fun adaptations for their rooms.
We’re located in a very quiet and amiable neighbourhood not far from the main beach of Playa Arenal, and inside close walking distance to nearby amenities. There is also a drive and parking area and retaining-walls of Rocalla and fantastic sea views, it’s simply incredible! In addition, we’re not far from the First Independent Primary School in Costa Nova, which is great for our young children.
Buying The Villa
Buying a villa in Spain was a dream come true; however, it can easily turn into a nightmare. Thankfully, things never got that bad but there were some “darkening of the light” moments. We realized that it is important not to “allow your heart to rule your head.” There are so many things to be cautious about. A property with stunning views is not going to do you any good down the line if you find out its illegal or unliveable. It’s important to have a “Spanish lawyer,” not one from the UK as well. You need someone who really knows the ropes in the country.
Our visits over the past six years helped enormously as well. We already knew the type of lifestyle we wanted to live, so a permanent family style home was definitely at the top of our list.
The cost were something else to deal with and if you don’t have people around that you can trust and know exactly what they are doing, it can turn into a big mess fairly quickly. For example, for the purchase of my new property I had to pay 4% VAT. Notary fees and additional fees for transmission were roughly 3% for the price of the property as well. The commission for the real estate is 3% including VAT. Moreover, all property transactions in Spain must be legally registered and notarised and fees and taxes linked to the process come to around 10% of the sale price in which we are responsible for. I was also responsible for my Spanish lawyer fees, and there is no way to get around it, you will need a Spanish lawyer.
We also engaged a qualified surveyor to carry out a comprehensive structural survey. This way, we have no surprises later on while living in our dream villa. It would be terrible for the walls to begin cracking just as we have closed the deal and placed the last bit of furniture inside!
The obligations do not stop at the purchase. There are resident taxes, local taxes, utility bills, and community charges that must be paid on an annual basis. We are trying to decide if we want to hire a financial representative or assesoria to take care of our financial and tax dealings.
Was It All Worth It?
For sure! Just imagine living in the place you have been dreaming about for years. And what’s more, imagine that dream manifesting. You are actually there, living, breathing, and enjoying every minute of it. Sure, there were some bumps in the road; I can’t deny that. But we knew what we wanted. We also feel that raising our children in such a lovely, wholesome environment can’t be wrong. We’re loving every minute of it, hoorah Costa Nova!