The timeline for a new home development can vary depending on the project’s size and complexity. It’s essential to have a clear understanding of the expected completion date and to plan accordingly. Keep in mind that once construction is finished, it can take up to 8 weeks to complete the contracting of utilities such as water, electricity, and gas.

Hiring an independent lawyer is crucial when purchasing property in Spain. They will ensure that all legal aspects are handled correctly, including checking the developer’s credentials, reviewing contracts, and ensuring your rights are protected throughout the buying process.

It’s vital to choose a reputable developer and building company with a proven track record. At KPG New Homes, we only work with trusted developers who meet the highest standards of quality and reliability. Always verify the developer’s experience and previous projects to ensure they can deliver on their promises.

Choosing an established company like **KPG New Homes** gives you the confidence of working with a team that has over two decades of experience on Lanzarote. We provide expert guidance through every stage of the process, ensuring you have all the information you need to make informed decisions.

When purchasing a new home in Spain, you should budget for the following costs:

• IGIC (Impuesto General Indirecto Canario): 7% of the purchase price (Canary Islands equivalent to VAT)
• AJD (Impuesto de Actos Jurídicos Documentados): 1% of the purchase price
• Notary and Land Registry Fees
• Mortgage Opening Fees (if applicable)

In total, you should allow for approximately 10% of the purchase price to cover these costs, plus your solicitor’s fees.

When buying a new home, several important documents need to be reviewed:

• Memoria de Calidades: This document details the quality specifications of the construction materials and finishes.
• Proof of Developer Funding: Ensure the developer has secured financing for the project.
• Bank Guarantees for Pagos Anticipados: These guarantees protect your deposits during construction.
• Building Licences and Projects: Verify that the necessary building licenses are in place.

If you wish to customize your new home to your tastes, inquire early in the process. Many developers allow for some degree of customization, such as choosing finishes or making minor layout changes.

After the construction is complete, there may be a gap of up to 8 weeks before utilities like water, electricity, and gas are fully connected. Be prepared for this delay and plan your move accordingly.