Guide to Buying a Property in El Albir and Alfaz del Pi

Buying a home in El Albir, a coastal area within the municipality of l’Alfàs del Pi, is a smart choice for those seeking a Mediterranean lifestyle, excellent infrastructure, and proximity to the sea. This guide offers a practical and updated overview of the buying process in this part of the Costa Blanca.

1. Assess Your Budget and Financial Situation

Before beginning your search, define your financial capabilities:

Banks in Spain typically finance up to 80% of the property price or valuation.
You should have the remaining 20% available as a down payment, plus an additional 10–15% to cover taxes, notary fees, and other purchase costs.
Overall, you should have savings equivalent to 30–35% of the property price.
Stable employment or verifiable income is essential, especially for self-employed buyers.

For more details on taxes and costs, visit our guide to buying property in Spain.

2. Explore the Area and Type of Property

El Albir offers both new developments and resale homes. Consider:

Proximity to services: supermarkets, medical centers, the beach, schools.
Orientation, energy efficiency, and construction quality.
Community fees and any pending special assessments.

3. Review Legal Documentation

Before signing any contract:

Request the property registry extract (nota simple) to confirm ownership and any debts.
Ensure the energy performance certificate is available.
Verify that local taxes (IBI), utilities, and community fees are up to date.

We recommend working with a trusted legal advisor to ensure a secure purchase.

4. Simulate Your Mortgage and Compare Options

Compare fixed-rate, variable, and mixed mortgages, and assess:

Annual Percentage Rate (APR), associated insurance, and set-up fees.
Loan duration and monthly repayment.
Special conditions for non-resident or international buyers.

Use online simulators to estimate your monthly payments before committing.

5. Notary Signing and Property Registration

Once your mortgage is approved:

Sign the purchase and mortgage deed at the notary.
The notary will confirm that all documents and payments are in order.
The property and mortgage will be registered in your name.

Notary and registration costs are typically 1–2.5% of the purchase price.

6. Post-Sale Tasks and Utility Changes

After signing:

Transfer utility contracts (electricity, water, gas, internet) to your name.
Arrange multi-risk home insurance.
Keep a reserve fund for renovations or unexpected expenses.

7. Moving In and Living in the Costa Blanca

El Albir is perfect for both permanent living and holiday homes. It offers great connections to Altea, Benidorm, and Alicante Airport, along with beautiful beaches, hiking trails, and a peaceful international atmosphere.

Looking for a property in El Albir or nearby?
Explore our properties for sale in Albir or browse all our properties on the Costa Blanca.