If you already have a property in Spain or you are in the process to buy one, you would like to know the annual costs, including taxes and how they work.
This should
be one of the most important steps in your process to buy a property in Spain
or something to verify when you already purchased one.
When you buy your Spanish home, you normally open a bank account with a local bank and you request your access to your bank statements through internet or/and the ordinary post.However, you probably do not know what bills are paid by direct debit and which ones you pay directly to the office, by transfer or credit card.
On the
other hand, it may happen that even when you read a bank statement or receive a
bill at home, you do not know what it means or what it is related to, if it has
been paid or it is pending.Do you know
all your utilities, when payments are due….do you have insurance and if so, do
you know exactly what the coverage is…?
Furthermore,
you probably ignore whether the power of your electricity contract exceeds of
your current needs and the electricity company is charging you in accordance
with the power stated in the original contract and not according to your actual
electrical appliances/installations.
For this
and many other reasons we associated with a Spanish company who does not only
provide advice in these matters but also can resolve your problems in a quite
simple way.
They gave us some reasons to engage a reliable administration service for your Spanish property:
- 1. To inform you about all the relevant
costs from the moment you buy property
- 2. To organize your bank account and
register all the bills and taxes
- 3. To receive the correspondence from
the suppliers, Town Hall, Tax Authorities and all the public offices on your
behalf
- 4. To prevent any electricity or water
cut off for banking reasons or mistakes.
- 5. To watch if the bank or any suppliers
are overcharging for no reason.
- 6. To keep you informed of your annual
expenses, divided into months, quarters, semesters, etc
- 7. To give you a periodical breakdown of
your monthly costs
- 8. To keep a file with all your
invoices, bills and taxes totally organized, so you can check them anytime.
- 9. To file your taxes for you and keep
you informed in advance.
- 10. To make easy for you when you sell
your property or to your heirs in case of death. All bills and taxes are both,
in digital and paper versions.
- 11. Many more…..
-
So, we
wanted to see more, how they work and what they provide. And this is an example of their services.
2015
|
Jan
|
Feb
|
March
|
April
|
May
|
June
|
July
|
AUG
|
Sept
|
Oct
|
Nov
|
dec
|
TOTAL
|
Community
|
200,00
€
|
200,00
€
|
200,00
€
|
200,00
€
|
800,00 €
|
||||||||
Home Insurance
|
350,00
€
|
350,00 €
|
|||||||||||
Car Insurance
|
420,00
€
|
420,00 €
|
|||||||||||
IBI property tax
|
560,00
€
|
560,00 €
|
|||||||||||
Garbage Tax
|
45,00
€
|
45,00 €
|
|||||||||||
Car Tax
|
32,00
€
|
32,00 €
|
|||||||||||
Alarm
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
80,00
€
|
960,00 €
|
Water
|
30,00
€
|
32,00
€
|
35,00
€
|
48,00
€
|
75,00
€
|
80,00
€
|
120,00
€
|
125,00
€
|
80,00
€
|
60,00
€
|
50,00
€
|
50,00
€
|
785,00 €
|
Electricity
|
132,00
€
|
250,00
€
|
120,00
€
|
120,00
€
|
89,00
€
|
175,00
€
|
210,00
€
|
350,00
€
|
148,00
€
|
95,00
€
|
85,00
€
|
95,00
€
|
1.869,00 €
|
Mortgage
|
0,00 €
|
||||||||||||
Tel/internet
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
45,00
€
|
540,00 €
|
Non res tax
|
350,00
€
|
350,00 €
|
|||||||||||
bank charges
|
0,00 €
|
||||||||||||
TOTAL
|
487,00
€
|
407,00
€
|
630,00
€
|
493,00
€
|
709,00
€
|
380,00
€
|
1.005,00
€
|
1.237,00
€
|
353,00
€
|
480,00
€
|
260,00
€
|
270,00
€
|
6711
|
And more, comparing months from different years and presenting a graphic with all the information that you may request
In any case, please follow us in our blog.
We will be coming soon with the following:
Buying property in Spain
Selling property in Spain
More about annual expenses and taxes
Wills and inheritance tax
Keep posted!!
Information provided by Premier Law Spain,
For more information:
tel: +00952764483
