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How much money cost you selling a home ? Do not forget the taxes!

Posted by admininfinity on September 21, 2016
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How much money cost you selling a home ? Do not forget the taxes!

Selling you home you can loss or profit. What are the costs selling your house in Spain

If there is profit , it should be mentioned in the statement of your yearly income and pay for it.  Any increase in property value in value is taxed. Also small refurbishments.

I give you an example, if a property owner bought a property for 107.000 euro and wants to sell it 5 years later for 200.000 euro, he will gain a profit of 93.000 minus costs about 87.000 euro. From that amount you need to pay a tax of approx 18.900 euro. So the owner ends up with a amount of  approx 68.100 euro.

There are some rules to follow, because the tax you paid you can get back if you buy another property in Spain.