Buyer's Guide
The new build buying process, from viewing to keys
The new build buying process has eight steps: viewing and choosing, reservation, legal checks, private contract, payments during construction, first-occupation licence, completion at the notary and handover of keys. From reservation to keys it usually takes 18 to 30 months if you buy off-plan, or 4 to 8 weeks if the home is already finished.
Before you buy: viewing, choosing and budgeting
Start by setting a realistic budget: the price before VAT, plus 12-13% for taxes and fees. That rules out developments that do not fit.
Then visit the area, the plot or the site and, if there is one, the show flat. Pay attention to orientation, noise and how far you really are from the beach and services.
The eight stages of the new build buying process
| Stage | What happens | Typical timing |
|---|---|---|
| 1. Reservation | Deposit of €3,000-10,000 + VAT | Day 0 |
| 2. Legal checks | Licence, land registry extract, guarantees | 1-3 weeks |
| 3. Private contract | You pay 20-30% minus the reservation | 2-6 weeks after reserving |
| 4. Construction | Staged payments with guarantees | 12-24 months |
| 5. End of works | Final certificate and first-occupation licence | 1-3 months |
| 6. Mortgage | Valuation and FEIN offer | 4-6 weeks |
| 7. Completion | You pay the balance at the notary | Date set by the developer |
| 8. Handover | Keys and snagging check | Same day |
Timings are a guide. Each developer sets its schedule in the contract, with a completion date and sometimes an extension.
What you sign at each stage
- Reservation document: identifies the home, the price and the deadline for signing the contract.
- Private purchase contract: sets out the price, payment schedule, completion date, building specification and the guarantee on payments.
- Guarantee or insurance certificates for each payment on account.
- Public deed before a notary, which is then recorded at the Land Registry.
Read the completion and penalty clauses carefully. We go into detail in buying off-plan.
Mistakes that delay the new build buying process
- Applying for your NIE late: without it you cannot sign the contract or the deed.
- Waiting for the licence before looking for a mortgage: start at least 3 months earlier.
- Not reviewing the building specification and finding differences at handover.
- Making payments from a foreign account without telling your Spanish bank.
If you get ahead of these four points, you will usually complete on the planned date without last-minute rushes.
At the end: completion, keys and first steps
On completion day you pay the balance, sign and get the keys. That same day, or just before, it is wise to do the snagging check we explain in handover of keys.
- Put electricity, water and internet in your name.
- Set up direct debits for IBI, rubbish tax and community fees.
- Take out home insurance from day one.
- Pay the AJD stamp duty within the following 30 working days, unless your gestor does it.
If you want a finished home to shorten the timeline, look at Be Aloha in Marbella or Serene Atalaya in Estepona.
Frequently asked questions
How long does the new build buying process take?
Off-plan, 18 to 30 months from reservation to keys. With a finished home, 4 to 8 weeks.
What is the first-occupation licence?
It is the municipal permit confirming the building complies with its licence and can be lived in. Without it the deed cannot be signed or utilities connected.
Can I change finishes during construction?
Many developers offer a customisation catalogue with a deadline. After that date, changes are usually not possible.
When is VAT paid on a new build?
With every payment: the reservation, the contract, payments during construction and the balance at completion each carry 10% VAT.
Official sources
General information checked on the date shown; it does not replace advice from a lawyer or tax adviser for your case.
