Housing

How much house can we afford?

Before you take the leap, look at the full numbers: not just the mortgage, but also the taxes and fees. Answer a few steps and we'll tell you whether it fits your finances, with advice tailored to your situation.
Step 1 of 4
The home
The price and what type it is.
Home price
$
New build or resale?
Autonomous community
Used to estimate the purchase tax (ITP/IVA), which varies by region.
Do you meet the reduced-ITP requirements? (young buyers, limited income/price)
Estimated purchase tax
%
ITP 8% · indicative, you can adjust it to your case.

How to read the result

Buying a home isn't just the mortgage: there's a significant upfront outlay (down payment, taxes and fees) and a monthly payment that will live alongside your budget for years. This tool separates the two and puts them in context with your income and savings.

Taxes depend on the type of home

  • — Resale (second-hand): you pay ITP (Spain's property transfer tax), a percentage set by each autonomous community (roughly 6%-10%), with possible reduced rates for young buyers under certain income and price limits.
  • — New build: you pay IVA (VAT, 10% standard rate) plus AJD (stamp duty, roughly 0.5%-1.5% depending on the region); in the Canary Islands, IGIC applies instead of IVA.
The rates we use are indicative and you can adjust them. They change by region and year, so confirm them with your notary or gestoría before deciding.

Costs beyond the price

On top of taxes, you'll also pay notary, land registry, gestoría (administrative agent) and appraisal fees, which together are usually around 1%-2% of the price. The calculator estimates them so you can see the full upfront outlay, not just the down payment.

Frequently asked questions

What share of my income should go toward the mortgage?
A common rule of thumb is not to spend more than 35% of the household's net income on total debt (mortgage included). It's not a strict rule or personalized advice, but it helps avoid stretching your budget too thin. The calculator flags your case in green, amber or red.
How much ITP do you pay when buying a resale home?
ITP (Impuesto de Transmisiones Patrimoniales, Spain's property transfer tax) is set by each autonomous community, and usually ranges between 6% and 10% of the price. Many communities apply a reduced rate (for example, from 10% down to 5%) for buyers roughly under 35-36 years old who stay under certain income and home-price limits. Always confirm the requirements and the current rate in your region.
What if the home is a new build?
For new homes you don't pay ITP. Instead, you pay IVA (VAT, 10% standard rate on the mainland and the Balearic Islands) plus AJD (stamp duty), set by each region (roughly 0.5%-1.5%). In the Canary Islands, IGIC applies instead of IVA (around 6.5%).
How much money do I need saved up to buy?
Banks typically finance up to 80% of the value, so you'll need around 20% as a down payment. On top of that you need to add taxes (ITP, or IVA+AJD) and notary, registry, gestoría and appraisal fees (roughly 1%-2%). In total, it's common to need around 30%-35% of the price in savings.
Can I finance the taxes and fees with the mortgage?
Generally no: the mortgage covers a percentage of the purchase price, but taxes and fees are usually paid separately, out of your own savings. That's why the calculator keeps them separate and warns you if your savings fall short of the upfront outlay.

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