I’ve Bought a Property in Spain — What Now?

Buying a property in Spain is exciting, but once the keys are in your hand, the practical work begins.Whether you have bought a holiday home, a permanent residence, or an investment property, there are a few important things you need to organise quickly. From electricity and water contracts to internet, community fees and insurance, it can feel like there is a lot to sort out — especially if you are doing it in a second language.

At Compare The Mercado, I help expats in Spain review and switch their utility contracts, making sure they are not overpaying from day one.

First Things to Check After Buying a Property in SpainOnce completion has taken place, your solicitor will usually deal with the legal side of the purchase, but there are still several everyday services and accounts that need your attention.

These often include:

Electricity contract

Water contract

Gas,

if applicable Internet and mobile

Home insurance

Community fees

IBI and local taxes

Alarm or security services

Changing locks

Checking appliances and meters

Some of these may already be connected when you move in, but that does not mean they are in your name, on the right tariff, or priced correctly.

Don’t Assume the Existing Electricity Contract Is the Best One

One of the most common mistakes new property owners make is keeping the existing electricity contract without checking it. The previous owner may have been on an expensive tariff, an unsuitable potencia level, or paying for extra services they no longer needed.

In some cases, the contract may include maintenance plans, protection services or additional charges that are not obvious at first glance.Your electricity bill in Spain is not just about how much power you use. It can also include: Standing charges Potencia charges Energy consumption Electricity tax IVA Meter rental

Additional services or insurance products

This is why it is so important to review the full bill, not just the monthly total.

What Is Potencia and Why Does It Matter?

Potencia is the contracted power level for your property. It affects how many appliances you can run at the same time, but it also affects your fixed daily charges.If your potencia is too low, your electricity may trip when you use several appliances together.If your potencia is too high, you could be paying more than necessary every single day, even when the property is empty.Many expat homes, especially holiday homes, are not set up correctly for how they are actually used. A full bill review can help identify whether your contracted power level looks appropriate.

Check for Extra Services on the Bill

Many Spanish electricity bills include additional products such as home assistance, repair cover, maintenance packages or protection services.Some clients do not even realise they are paying for these.These extras may be useful for some people, but they should always be a conscious choice — not something you accidentally inherit from the previous owner.Before you agree to keep the existing contract, it is worth checking exactly what is included and whether you really need it.

Water, Gas and Other Household Services

Electricity is usually the biggest concern, but it is not the only service to arrange.You may also need to change the water contract into your name. Depending on the area, this may be managed by the local town hall, a private water company, or a regional provider.If the property has mains gas or bottled gas, you should also check the current arrangement and whether inspections or certificates are up to date.For internet, it is worth checking coverage before signing a contract. Some urbanisations and rural areas have limited fibre availability, while others may have several options.

Holiday Home Owners Should Be Especially Careful

If your property will only be used for holidays or part of the year, the wrong utility setup can be expensive.You may be paying high fixed charges every day, even when nobody is there. You may also be on a tariff designed for regular year-round usage, rather than occasional stays.A good tariff for a full-time resident is not always the best tariff for a holiday home owner.That is why it is important to compare your expected usage, not just copy what the previous owner had.

What Documents Will You Usually Need?

To change or review utility contracts in Spain, you may be asked for:A copy of your NIEPassport or IDProperty purchase detailsBank account detailsCurrent electricity billCUPS numberWater contract or billContact detailsThe CUPS number is especially important for electricity. It is the unique supply point number for the property and can usually be found on the electricity bill.

How Compare The Mercado Can Help At Compare The Mercado,

I make the utility process easier for expats buying property in Spain. My service is completely free to the client because I am paid by the utility company, not by you. I can review your current electricity bill, check whether the tariff is competitive, explain any extra charges, and help you switch if there is a better option available.There is no interruption to your supply when switching electricity provider. The electricity continues as normal — only the company billing you changes.And if I cannot improve your current tariff, I will tell you.

Final Checklist After Buying Your Spanish Property

Once you have completed your purchase, make sure you:Get copies of the latest electricity and water billsCheck the contracts are transferred into your nameReview the electricity tariff and potencia

Look for unwanted extra services Confirm community fees and payment detailsSet up home insuranceCheck internet optionsKeep all utility documents safely Ask for help before signing anything you do not understand

Final Thoughts

Buying a property in Spain should be exciting, not stressful. But once the purchase is complete, it is important to make sure your household contracts are properly set up and fairly priced. A quick review at the beginning can help you avoid overpaying for months or even years. If you have just bought a property in Spain and want to make sure your electricity contract is right, send me your bill and I will check it for you.

Compare The Mercado

Free electricity bill review and switching service for expats in Spain.

www.comparethemercado.com

ana@comparethemercado.com

WhatsApp: +34 613 364 496