Are you considering purchasing a property on the wonderful island of Ibiza? At CASAVIVA Ibiza Real Estate, we understand that every purchase is a significant investment, and we want to support you every step of the way. Below, you'll find a detailed five-step guide to ensure your investment is made securely and efficiently, helping you avoid potential pitfalls.

1. Research and Budget Definition

Before beginning your search, it’s essential to understand the Ibiza property market. This involves researching price trends, identifying emerging areas, and understanding the available supply. During this phase, it is crucial to set a realistic budget that includes not only the property cost but also associated expenses such as:

• Taxes: Consider taxes like ITP (Transfer Tax), VAT (for new constructions), and AJD (Stamp Duty).
• Notarial and registration fees: Costs associated with formalising and registering the purchase.
• Potential renovations and improvements: Assess the current state of the property and necessary modifications to suit your preferences and needs.

Tip: If you plan to finance the purchase, consider obtaining a mortgage pre-approval. This will give you a clear idea of your spending limit and make your offer more attractive to sellers.

2. Selecting the Ideal Location

Ibiza is renowned for its diverse environments, ranging from vibrant urban areas to serene coastal villas. When choosing a location, consider factors such as:

• Proximity to services: Supermarkets, hospitals, and health centres.
• Accessibility: Availability of public transport and road connectivity.
• Schools and leisure areas: Especially important if you have a family.
• Potential for value appreciation: Consider how the location may affect the property’s future value.

Each area of Ibiza offers a unique lifestyle, so choose the location that best suits your preferences and needs.

3. Property Search and Visits

Working with a trusted real estate agency is essential to access the best properties and receive expert advice. During this phase:

• Plan your visits: Ensure you visit properties of interest, and don’t hesitate to do so multiple times and at different times of the day to assess aspects like natural light and noise.
• Attention to details: Observe the state of preservation, layout, views, and any potential structural issues.
• Comparison: Don’t settle for the first option. Compare several properties to make an informed decision.

Tip: Carry a checklist of your priorities and note details of each property to help you make the right choice.

4. Legal Review and Offer

Once you find the perfect property, the next step is the legal review. It is crucial to have a specialised lawyer review:

• Property documentation: Verify that all documents are in order and that there are no liens, mortgages, or other legal impediments.
• Urban planning regulations: Ensure the property complies with local regulations.

After the review, you are ready to make an offer. Remember that the selling price is not always fixed, and there is often room for negotiation.

Advice: Maintain open communication with your real estate agent and lawyer to secure the best possible deal.

5. Finalising the Purchase

If everything is in order, the final step is signing the sale contract before a notary. Make sure to have:

• All necessary documentation: Personal documents, proof of payment, financing.
• Financing ready: If using a mortgage, coordinate with your bank to ensure everything is prepared for the signing day.

After the signing, the notary will register the property in your name at the Land Registry, officially marking the start of your new life in Ibiza.