Step 13 of 48 Phase 2: Organize Your Finances
2.6 Calculating Your Deposit
Figure out how much deposit (entrada) you need for your Costa del Sol property — and whether Golden Visa thresholds affect your planning.
Deposit Requirements
| Buyer Type | Typical LTV | Deposit Needed | On €400K Property |
|---|---|---|---|
| Spanish Resident | 80% | 20% | €80,000 |
| EU Non-Resident | 70% | 30% | €120,000 |
| Non-EU Non-Resident | 60-70% | 30-40% | €120,000-€160,000 |
| Golden Visa Buyer | N/A | €500,000+ debt-free | €500,000 minimum |
Golden Visa Considerations
- The €500,000 threshold must be your own funds — mortgage financing doesn't count
- You can buy multiple properties totaling €500,000+ to qualify
- Golden Visa is only for non-EU citizens (UK citizens post-Brexit are eligible)
- Consult an immigration lawyer before committing to a Golden Visa purchase
Pro Tips
- Add 10-12% of purchase price for taxes and fees (7% ITP in Andalucía)
- Banks may lend more if you have strong income relative to the loan
- Currency fluctuations affect your buying power — consider timing or hedging
- Many Costa del Sol buyers use currency specialists (Currencies Direct, Wise) for better rates
Common Mistakes to Avoid
- Forgetting to budget for ITP (7% in Andalucía), Notary fees, and legal costs
- Not having funds readily transferable to Spain when needed
- Underestimating the time needed to transfer large sums internationally
- Assuming you can borrow the same percentage as in your home country