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better financial decisions for your mortgage
Tips, steps, procedures, comparison tools... Everything you need to get to your new home.
What you have to do after buying a home
After buying your home: the last four steps.
With your house reserved and your mortgage arranged, you'll be able to see the finishing line. There are only four steps left. They are simple, but they are crucial if you're going to have your own home.
- Be clear about them and don't let the last few yards become the hardest.
- Much of this administration is done directly by the notary.
- The property will soon be in your name, so buy yourself a key ring.
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Signing the property deeds and notary formalities. This is the act of buying the property. The notary is responsible for formalising the purchase and the mortgage, and sending the documents to the Land Registry, if you wish. Congratulations! The house is yours and you have the keys.
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Paying taxes. With the purchase deed, you have to pay taxes. These vary depending on whether the property is new build or not, and on the autonomous community.
- If the home is a new build. You have to pay VAT (there is a reduced rate for protected housing under the special regime) and stamp duty (which varies depending on the autonomous community).
- If you buy an existing home. You have to pay Property Transfer Tax (ITP). This also differs depending on the autonomous community.
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Register the property in the Land Registry. You have 60 days to do this once the sale is finalised. There is a cost for this registration (a small percentage of the sale price). The notary can perform this procedure. The change of ownership is then automatically recorded in the land register.
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Register for utilities. These are personalised services, so you have to arrange them and sign up with the companies you choose. And remember to talk to the chairman of the association of property owners, to update the bill for monthly expenses.
And you now deserve a good rest. And your house deserves good insurance, doesn't it?
You like your house and you can finally put your feet up in it. And your house likes insurance that allows it to relax with the cover it needs.