First Home Buyer Guide in Spain 2026

Your First Home in Spain — Where to Start

Buying your first home in Spain is one of the biggest financial decisions you will make. The process can feel overwhelming, but breaking it down into clear steps makes it manageable. This guide covers everything from saving your deposit to collecting the keys.

Saving for Your Deposit

Most lenders in Spain require a deposit of 20-30% of the property price. The more you save, the better your loan terms and the less you pay in additional costs.

Build at least 20-30% of the purchase price (deposit plus buying costs of 10-15%). Spanish banks require a larger deposit than many European countries. Save consistently and reduce existing debts to improve your cuota/ingresos (instalment-to-income) ratio. Maintain stable employment — antigüedad laboral (tenure) matters

Government Support for First-Time Buyers

Limited national schemes exist, but autonomous communities offer various programmes. Some regions reduce ITP for first-time buyers, young buyers, or purchases in depopulated areas. The ICO has introduced guarantee programmes for first-time buyers under 35. Check your autonomous community’s specific programmes — they vary significantly

Check our government grants guide for the full list of current programmes and eligibility requirements.

Getting Pre-Approved for a Mortgage

Pre-approval tells you exactly how much you can borrow and shows sellers you are a serious buyer. In Spain, the process works as follows.

Use iAhorro or HelpMyCash to compare offers across all lenders. Get pre-approval from at least 2-3 banks. The FEIN (European Standardised Information Sheet) must be provided at least 10 days before signing — use this period to compare alternatives

Use our mortgage calculator to model different scenarios before applying. Read our mortgage types guide to understand which loan product suits your situation.

Understanding the Full Cost of Buying

The purchase price is just the beginning. Budget for additional costs that can add significantly to your total outlay.

ITP (transfer tax) of 6-10% for resale properties (varies by autonomous community), or IVA (10%) + AJD (0. Read our buying costs guide for a complete breakdown of every expense.

Common First-Time Buyer Mistakes

Underestimating buying costs (10-15% including ITP of 6-10%), not understanding the 10-day mandatory reflection period on the FEIN (use it to compare), signing vinculaciones (linked products) without checking if they are genuinely good value, and not researching urban planning status (situación urbanística) to avoid illegal construction issues

Avoid these pitfalls by taking your time, doing thorough research, and leaning on qualified professionals throughout the process. Our property inspection checklist covers what to check before committing.

Your Step-by-Step Timeline

The typical first home purchase follows these stages: establish your budget and savings target, explore government support options, get pre-approved for financing, search for the right property, make an offer, complete legal due diligence and inspections, and finalise settlement.

Our property buying guide walks through each stage in detail, and our mortgage guide covers everything about financing.

Next Steps

Ready to start? Use our mortgage calculator to see what you can afford, browse Spain FAQs for quick answers, or explore our full property buying guide.