Relocation to Spain
You may have already thought about a warm climate where the sun shines 330 days a year and there are only two seasons – summer and spring. Maybe you have already heard about how favorable the sea air and sun are for the health of children. It is the care of children's health and high-quality European education at an affordable price that occupy a special place for buying real estate by the sea and moving to a family. Modern technologies make it possible to significantly reduce the time of working remotely and spend maximum time with your family in your Spanish residence with departure to your country as needed.
Can a foreign national buy a property in Spain?
A citizen of any of the CIS countries, including Russia, can buy real estate in Spain by arriving on a Schengen visa. Spain has not recently adhered to the agreement on the restriction of relations between citizens of foreign states, including those from Russia and the CIS countries.
How much can you buy a property for yourself?
In an average, good apartment you can buy from 100,000 euros in Torrevieja to 300,000 euros in Benidorm, Valencia or Alicante.
This takes into account the advantages of a profitable Spanish mortgage, which can be taken at 1.5-2.85% for up to 20 years. Down payment 40%. From 2023, Spanish banks issue mortgages to foreigners from the CIS countries if they have income in euros, which can be documented.
What school will the children attend?
For parents with children who have children, we get three options for a strategy to benefit from education in Spain.
Strategy No. 1 for younger students.
In Spain, kids go to school from the age of three. You can send your child to a Spanish school for the first few years, which will allow him to quickly adapt and learn Spanish. Further, a middle school student can be transferred to an English school to master the classical English program and immerse himself in an English-speaking environment. Upon reaching the age of 16 and having the financial opportunity, it makes sense to send the child to study in England for the last two years of the English program: A Level or IB. Classical British education is highly valued all over the world, and with the results of school exams, your child can enter any university in the world. However, education in the UK is much more expensive than studying at an English school in Spain. Thus, the advantages of this strategy are:
● Your child receives a quality European education;
● You save significantly by paying for tuition in England only for the last two years; By the time your child graduates, they are fluent in English and Spanish.
● You give your child a unique chance to enter the best universities in the world.
Strategy No. 2 for high school students.
We do not recommend doing the same experiments with teenagers. Let's start with the fact that adolescence is stress in itself :-) Therefore, after moving to Spain, you can immediately send your child to a private English school, and upon reaching the age of 16, transfer him to England.
Strategy No. 3, the most budgetary.
Your child studies at a public Spanish school and after graduation enters one of the Spanish universities that rank high in world rankings.
Life hack.
If you can afford remote work and dream of living in different countries of the world and not limiting yourself in choice, but you are held back by the thought that children need to study, choose schools with an English program. There are private English schools in every country. You can change your place of residence, while your child will continuously continue his education according to the prestigious English program anywhere in the world and will be able to enter the leading universities in the world.
Which location to choose for buying real estate?
If it is important for you to hear your native language, to have a number of compatriots to whom you can turn for help - pay attention to the city of Torrevieja.
If you prefer the company of Europeans, the beauty of skyscrapers and movement in summer and winter, Benidorm is for you.
For peace and tranquility - in the small towns of the Costa Blanca: Calpe, Denia, Jávea.
Active business connections, arts and sciences – Valencia. Come to the viewings, "try on" the locations for yourself, and you will find what you dream of!
How to choose an object to buy?
The first rule of choosing an apartment or house for yourself is that you should like it!
On the Costa Blanca, very interesting complexes for life are now being built, which are worth seeing. Almost every apartment complex has its own swimming pool, and this is the norm.
For living with children, complexes with a large territory, playgrounds, tennis courts, a heated winter pool and a gym for parents are interesting. Some complexes even have their own cafes and coworking areas. Fenced area and round-the-clock security allow small children to walk in the yard even without parental supervision.
How to get a mortgage?
To get approved, you need to:
Confirm the legality of receiving funds for a down payment;
Provide documents stating that you are able to pay future mortgage payments (certificates of salary and other income in euros).
For the first property, it is possible to get a mortgage of 60-70% (down payment of 30-40%), for subsequent objects - 50%.
On average, you can get a mortgage at 2.85-3%. However, you can find objects for which the bank will issue a preferential mortgage at a lower rate. This is due to the fact that an agreement on concessional lending has been concluded between the developer and the bank.
If your income is official, then getting a mortgage will not be difficult.
Non-residents can get a mortgage for up to 20 years.
To agree on a mortgage, you must first select a specific object, and it is for its purchase that the bank will agree on the issuance of a mortgage.
