Buying Property in Malaga: Common Mistakes to Avoid for a Successful Investment

Malaga, located on Spain’s Costa del Sol, is a sunny, lively city that attracts property buyers from around the world. With its beautiful beaches, rich culture, and growing economy, it’s no surprise people want to invest here. But buying property in a foreign country isn’t as simple as it may seem. If you’re not careful, small mistakes can turn into big problems.

Here are the most common mistakes people make when buying property in Malaga—and how you can avoid them.

1. Not Hiring an Independent Lawyer

One of the biggest mistakes is not getting proper legal advice. Many buyers think the notary handles everything. But in Spain, the notary only confirms the legal transfer of property—they don’t check if the property has debts, illegal extensions, or planning issues.

That’s why hiring an independent lawyer is essential. Your lawyer works for you and will make sure the property is legal, debt-free, and safe to buy. Don’t rely on the seller’s lawyer or the estate agent’s recommendation—choose your own.

If you’re serious about avoiding major legal troubles, check out this detailed guide on https://tejadasolicitors.com/buy-property-malaga/mistakes-to-avoid/ . It explains everything you need to know before signing on the dotted line.

2. Underestimating the Total Cost

Many buyers budget only for the property price and forget about extra costs. These can add up quickly and cause financial stress. Some common extra expenses include:

• Property transfer tax (7–10%)

• Notary and registry fees

• Legal fees

• Mortgage setup costs (if needed)

• Property survey and valuation fees

To be safe, always plan to spend 10%–15% more than the property’s price.

3. Skipping the Property Survey

Some buyers fall in love with a house and want to buy it fast. But skipping a technical survey can lead to regret later. Especially with older properties, there could be hidden issues like:

• Poor wiring or plumbing

• Foundation problems

• Illegal construction work

A proper survey can save you from costly repairs in the future.

4. Falling for Unrealistic Deals

Be careful of deals that seem too good to be true. A property priced much lower than others in the area could mean serious issues—such as legal problems, unpaid debts, or it might be built on land that isn’t zoned for housing.

Always ask why the property is cheap. And have your lawyer investigate before making any decisions.

5. Not Getting Your NIE Number Early

To buy property in Spain, you need a NIE number (Número de Identificación de Extranjero). This is your foreigner ID number, and without it, you can’t sign the property deed, pay taxes, or open a local bank account.

Apply for it early through the Spanish consulate in your home country or at a local police station in Spain. Delays in getting your NIE can slow down the buying process.

6. Ignoring Urban Planning Laws

Just because a building is standing doesn’t mean it’s legal. Each area in Spain has its own building rules. Before buying, you need to check:

• Does the property have a valid first occupancy license?

• Was it built according to the city’s plan?

• Is there any demolition or zoning issue?

Your lawyer should help you verify these points to avoid future headaches.

7. Not Knowing the Rules for Rentals

Planning to rent out your property to tourists? Be aware—Malaga has rules for short-term rentals. You must:

• Register the property with the Andalusian Tourism Registry

• Meet safety and comfort standards

• Keep a record of guests and pay rental taxes

• Not following these rules can result in heavy fines. Always check that the property qualifies before you buy.

8. Relying Only on the Estate Agent

While many real estate agents are helpful, remember—they work for the seller, not for you. Their goal is to sell the property, not necessarily to protect your interests.

Double-check everything they tell you. Use your own lawyer or a trusted advisor to verify the legal and physical condition of the property.

9. Not Asking About Community Costs

If you’re buying an apartment or a property in a shared complex, you’ll likely have to pay community fees. These cover things like:

• Maintenance of shared areas

• Pool and garden upkeep

• Security or cleaning services

Some buyers are surprised when these monthly costs show up. Always ask to see recent community fee records before you buy.

Final Thoughts

Buying a property in Malaga can be a fantastic investment and a great lifestyle choice—but only if you do it wisely. Take your time. Do your research. Don’t skip steps. And work with professionals who know the local laws and market.