FAQs

Exxacon Smart Living has carried out more than 40 new residential developments throughout its history, including multi-family residential buildings, town houses and semi-detached single-family homes, and detached villas. Our developments are ideal for those interested in creating a home, as well as for those looking for a second home or holiday home, or planning to invest in real estate

Our residential developments are located in the main residential markets in Spain. We currently have new homes for sale in Malaga and the Costa del Sol, Madrid, Seville and Valencia. In addition, we will soon start marketing our new residential development on the Costa Blanca (Alicante).

Likewise, all our developments stand out for their magnificent locations, strategically selected for their optimal road connections and/or their proximity to train stations or airports, their excellent orientation, the proximity of vibrant locations, or their privileged views of the sea or the mountains.

Step 1. Financial preparation

• One of the first steps you need to take when buying your home is to review your savings, your income level and the expenses you usually have to cover.
  This will allow you to set a budget that really fits your financial situation. It can also be a good idea to go to a bank or financial institution to obtain a mortgage pre-approval to find out more exactly what your budget can be.

Step 2. Housing search

• Defining your search criteria. When looking for a new or second-handhome, it is advisable to carefully evaluate your needs not only in the short term, but in the medium and even in the long term. This will help you determine the number of bedrooms that your future home should have, whether it would be a good idea to have an additional room that you can use as an office or as a playroom for children, or if you need garden space for your pets.

Likewise, aspects such as the proximity of basic services (schools, health centres, supermarkets, public transport, etc.) or its location with respect to places that
you frequently travel to, such as your workplace or your
children’s school, are essential considerations.

• Property search. Digital listings, internet searches, or specialized real estate portals and agents can help you easily find a home with your search criteria. For example, in real estate portals you can select your budget range, the number of rooms or if you are interested in buying new homes in cities such as Malaga or Madrid.
• Property visits. Once you have selected one or more homes of interest, it is advisable to go to the sales office of the development in person to meet a commercial agent. This professional will be able to guide you on the options that best suit your needs and circumstances, as well as resolve all your possible doubts.

In addition, it is always advisable to make an appointment with the commercial agent to guarantee that they will have enough time to meet with you, show you the plans or even visit the show flat if the development is already under construction.

Step 3. Reserving the property

• Once you find the property that best suits your lifestyle and you have decided to buy it, it is time to sign a reservation contract. The reservation contract is a preliminary agreement between the buyer of the home and the seller of the same, in which the buyer agrees to acquire a certain property by paying an initial monetary deposit or amount, and the seller agrees to reserve it for said buyer for a certain period of time. This type of contract is usually used to ensure that the property will not be sold to another person while the buyer gathers the necessary documentation or carries out the procedures prior to the final purchase.

Step 4. Contract of sale

• The contract of sale stipulates all the details of the transaction, including the total price, payment methods and delivery times. At this point, the buyer usually pays an additional amount to the developer, which is usually a small percentage of the total home price.

Step 5. Payments during construction

• Normally, the buyer makes certain payments during the construction period of the new home, which will vary depending on what is stipulated in the sales contract. These payments can be linked to specific milestones such as completion of the structure, installation of windows, etc.

Step 6. Construction tracking

• Buyers can personally conduct site visits to monitor the progress of their home’s construction so that they can ensure the agreed time lines and qualities are met. In these cases, it is advisable to book a visit with the commercial agent to deliver protective material and accompany you on the tour.

Likewise, from Exxacon Smart Living we proactively communicate to our buyers all the milestones we reach in the construction process of their homes. To this end, our sales team maintains fluid communications with all our customers, and we also regularly send videos of work progress.

Step 7. Completion of the works

• Once the construction is finished, it is advisable to carry out a final inspection of the house together with the developer to verify that everything is in accordance with what was agreed in terms of qualities and finishes. In the event that any defect or problem is identified, it is important to document it before delivery, to ensure that your home is in perfect condition when you proceed to the handing over of the keys.

Step 8. Final financing

• Buyers usually cannot cover the total cost of their home with their own financial resources. In these cases, it is normal to proceed with the formalization of a mortgage with a financial institution, which will include the final valuation of the property.

Step 9. Signature of the deed of sale

• Signing before a notary. The signing of the deed of sale before a notary is the step that formalises the acquisition of the property. At this time, the payment of the final (remaining) price of the home is made.
• Delivery of keys. Once the deed has been signed and payment made, one of the most important and long-awaited moments of the home purchase process arrives: receiving the keys to your new home from the developer.

Step 10. Land Registry

• The notary is the person responsible for registering your home in your name in the Land Registry. The Land Registry is a public institution that aims to guarantee legal certainty in real estate transactions.
  The registration of a property in the Land Registry is important to certify who is the rightful owner of said property. Banks also usually require the registration of the mortgage in the Land Registry as collateral for their loans.

Step 11. After-sales

• It is advisable to carry out a final review of the house to make sure that all the details are in order and your house is delivered in perfect condition. However, new-build homes usually have a warranty period during which the developer and/or construction company undertake to repair any structural or construction defects. For example, at Exxacon Smart Living we have a magnificent after-sales team  to manage any incident that may arise and carry out all the relevant procedures and repairs, as long as the property is under warranty and the damage is not due to misuse by the customer.

At Exxacon Smart Living we understand that financing is a crucial aspect in the purchase of your new home. Therefore, we offer various options and advantageous conditions to facilitate your acquisition:

• Agreements with banks. Exxacon Smart Living has agreements with certain financial institutions to offer advantageous mortgage conditions to our customers, such as reduced interest rates or lower entry requirements.
• Initial payment facilities. Reduced entry or split payment options are available during the construction period.
• Consultancy. Exxacon Smart Living customers can access free financial consultancy to guide buyers through the financing process.
• Flexibility in payments. We can assess various options for flexibility in payments during construction, as well as facilities to adjust instalments according to the needs of the buyer.

If you want to know more about our financing facilities, we recommend that you consult all your doubts with the sales team responsible for the development in which you are interested.

When acquiring a new construction property you must not only consider the purchase price, but also a series of additional expenses that can represent a significant percentage of the total cost. These expenses vary by country and local regulations, but here are the most common:

Taxes

• Value Added Tax (VAT) applies to the purchase of new homes. In Spain it is normally 10% of the value of the home.
• Documented Legal Acts (AJD). This tax is levied on notarial, commercial and administrative documents related to the purchase of a new home. The percentage varies by Autonomous Community.

Notarial Expenses

• The buyer must pay the notarial fees for the preparation and signing of the deed of sale. These fees are regulated and depend on the price of the property.
• If a mortgage is applied for, there will also be additional notary fees for the mortgage loan deed.

Registration Expenses

• Expenses associated with the registration of the deed of sale (and, if applicable, the mortgage) in the Land Registry.

Management

• If a management company is hired to handle all administrative procedures (filing taxes, registration in the Registry, etc.), the payment of their fees must be included in the expenses.

Mortgage Expenses

• Home Appraisal. The financial institution will request an appraisal of the property to determine its market value. The cost of the appraisal is usually borne by the buyer.
• In addition, some financial institutions charge a commission for opening the mortgage loan.
• The bank may also require the contracting of home insurance and, in some cases, life insurance, as a condition for granting the mortgage.

Municipal Capital Gains

• Tax on the Increase in the Value of Urban Land. Known as municipal capital gains, this tax is paid by the seller, but in some cases it can be negotiated and assumed by the buyer.

Other Expenses

• If you decide to hire a lawyer to review the contracts and oversee the purchase process, you will have to pay their fees.
• Costs associated with moving your belongings to the new home.
• Additional expenses if you want to make renovations or adjustments to the new property.

At Exxacon we have a warranty period for all our new homes, which starts from the moment the reception certificate is signed.

Our after-sales service is responsible for ensuring that buyers of our newly built homes have a satisfactory experience after the purchase, covering the following aspects:

• 1-year warranty for defects in completion or finishes.
• 3-year warranty for defects in installations and construction elements that affect the habitability of the dwelling (for example, problems with water, electricity or air conditioning installations).
• 10-year warranty for structural defects affecting the stability of the building (structure, foundation, etc.).

At Exxacon Smart Living, we understand that every customer has unique needs and tastes. That’s why we routinely offer a wide range of customisation options to ensure our buyers’ homes reflect their style and preferences.

However, it is important to note that each of our developments is also unique, so they do not have “standard” customisation options, and these options vary depending on the development.

Likewise, it is also important to know that the customisation options are reduced as the project advances. For example, if you buy your house from plans, you will have a much wider range of possibilities than if you buy your house when the works have already started.

The most frequent customisation options we offer at Exxacon Smart Living include:

Finishes and Materials

• You can choose between different types of flooring (wood, ceramic, porcelain, etc.).
• Painting and coatings. You can opt for various colours and paint finishes for walls and ceilings.
• Wall and floor tiles. In some cases it is possible to select designs and materials for bathrooms and kitchens.
• Countertops and kitchen furniture. You can customise your kitchen with granite, quartz or marble countertops, as well as having it delivered equipped or unequipped.

Space Distribution

• We can adjust the distribution of rooms according to the needs of our customers. For example, turning a room into an office.
• In some cases it is possible to change the location of interior partitions to expand or reduce certain spaces.

Facilities and Equipment

• We can offer different air conditioning and heating systems.
• In certain cases it is possible to select specific brands and models of appliances for the kitchen and laundry room.
• It is also possible to customise lighting systems with different types of lamps and spotlights.

At Exxacon Smart Living we are not only dedicated to developing new-build homes, but we are also pleased to help our clients turn their dwelling into a welcoming and personalised home.

We know that interior decoration plays a fundamental role in achieving this, which is why we offer an exclusive, free decoration advice service that can accompany you every step of the way to create the space of your dreams.

In each of the developments highlighted on our website, we provide the contact details of the sales team responsible for the development, as well as the address of the sales office.

If you want to pay a visit, it is advisable to call the sales office or send an email to the sales team before visiting to find out about their availability, the status of the development, etc.

Buying a new home in Spain involves gathering and submitting a range of both personal and financial documents.

The most commonly required documentation is the following:

Personal Documentation

1. National Identity Document (DNI) for Spanish citizens or passport in the case of foreigners.
2. NIE (Foreigner Identification Number), required for foreigners wishing to purchase property in Spain.
3. Certificate of Civil Status. This may include the family book, marriage certificate or declaration of being single, as applicable.

Financial Documentation

1. Proof of Income:
2. The last three payslips if you are an employee.
3. The last income tax return (Personal Income Tax).
4. Current employment contract.
5. Updated social security record.
6. Proofs of Savings and Properties:
7. Statements of bank accounts for the last 3-6 months.
8. Certificates of Deposits and Funds: evidence of other financial assets or investments.
9. Loans and Debts: information about any existing loans, such as mortgages, personal loans, or credit cards.

Specific Documentation for the Mortgage

1. Pre-contract document or reservation of the property that you have signed with the developer.
2. Property appraisal carried out by an appraisal entity approved by the bank.
3. Lease Agreement: document that reflects the initial payment agreed between buyer and seller.
4. Details of the developer or seller, including the CIF (Tax Identification Code) and the deed of incorporation of the company.

Other Documents

1. Certificate of Residence to verify your current residence, especially if you are applying for the mortgage in a bank with which you have no previous relationship.
2. If you are a foreigner residing in Spain, you need a residence permit.
3. Power of Attorney, in the event that the purchase is made through a representative.

Additional Steps

1. Check with your bank. Each bank may have additional requirements specific to the granting of the mortgage. It is important to consult this beforehand.
2. Once all the documents are in order and the mortgage is approved, the public deed of sale is signed before a notary.
3. After signing the deed, the notary is responsible for registering the property in your name in the Land Registry.

At Exxacon Smart Living we are committed to providing an excellent after-sales service, with the aim of guaranteeing the full satisfaction of our customers and resolving any doubts or problems that may arise after the delivery of their homes. In the event that a buyer detects an incident in their home, we put at their disposal an application to register said incident and its subsequent processing for its resolution.

Once the deed is signed, an email will be sent to the client with the necessary data to activate their access to the Quality and After-Sales app, along with all the relevant information about the property.