February 19, 2025

What happens after the completion?

After you have paid and received the keys to your new home, it is easy to think that everything is ready and that you can just start enjoying your new home. But there are actually several administrative steps that must not be forgotten. Felicity Estates lists the most important points!

Title deeds - at the notary you can get a copy, a so-called Copia Simple, of the new title deed, i.e. the certificate of ownership. It is important to get it with you as it is needed for several of the measures below. If you have bought with a bank loan, you will also receive a title deed, Escritura, for the mortgage. Both this and the original title deed usually take a few months before they are sent out in paper format by post. When they arrive, they are important documents to save for a future sale.

Taxes - if you have bought a used home, you must pay a transfer tax, Impuesto de Transmisiones, which in Andalusia is 7 percent. If you have bought new construction, you will pay VAT of 10 percent. These taxes must be paid no later than 30 days after signing the title deed before a notary public.

Registration in the property registry, Registro de la Propiedad, which is a way of protecting ownership. For registration, you must present a copy of the title deed, a receipt for the tax paid (see above) and payment of Plusvalía. The cost of registration depends on the value of the property.

Change of name on electricity, gas and water subscriptions. This can usually be done online or by phone and for the change you will need a previous invoice with the necessary information and your title deed. If you have bought a new property, this is an initial registration which involves a cost and up to three weeks before the service is effective.

Census, empadronamiento, is done at the municipality either at the town hall or on the website with a digital certificate. If it is a permanent residence, this is an important step as it usually gives certain tax breaks and access to municipal services or benefits.

Change of address - also notify other important authorities such as the traffic authority, the tax authority, etc. of your new address. 

Home insurance - if you have bought the home with a bank loan, the bank usually requires that you have home insurance, but even if it is not mandatory, it is a good idea to have insurance that covers unforeseen damage and the like.

Don't forget to notify the community of owners, that you are the new owner of the home and provide your account number if you want to pay the fee by direct debit. Contact details for the administrator, administrador de fincas, is information that the previous owner of the property must provide you with.

Finally, it is a good tip to change the locks in the home as a security measure, as there are sometimes multiple sets of keys and a lot of homes on the Costa del Sol have been rented out before.

www.freepik.es