The Spanish real estate market comprises new build properties and resale housing. Each has its attributes. This article will look at the benefits of buying new build housing in Javea over resale property.
A New Home is Tailored to Your Needs and Lifestyle
Buying a resale pre-built home often means purchasing a similar home, or even a cookie-cutter model, to others nearby. While these designs work for many, every household has a set of distinctive needs. Building a new home from scratch gives you the luxury of customising the design to suit your lifestyle. Homeowners who opt to build as opposed to buying have the benefit of selecting their home design and tailoring it precisely to their preferences. A new build affords you all the features required to serve you now and for years into the future.
Lower Utility Bills
Due to innovative building materials and modern appliances, all new build properties in Spain have “A” or “B” energy certificates. The primary energy efficiency features are thermal insulation, heat recovery and infiltration, which stops chilly air from getting inside the home. As a result, a new home requires less energy to remain at a comfortable temperature.
To give you an idea, a house with an “A” energy efficiency certificate will cost around €325 for electricity a year. A similar-sized older home will often have a “D” or even lower energy certificate. The bill for this home will be around €1200 a year.
Furthermore, many older Spanish homes may have no heating system, and inhabitants rely on gas stoves and butane bottles. Butane has risen in price in recent years, and replacing the bottles is a clumsy job, particularly if you need to lug the bottle upstairs.
It is normal to be wary of buying a property abroad. You have probably heard some nightmare stories, such as developers going bankrupt or disappearing. Other sorry tales include vendors selling properties on land they do not own, buying off plans with promises there would be various facilities on site that never materialise, and some conmen even selling properties that do not exist. However, you can avoid all this with due diligence.
With our new builds, the buyers’ money does not go directly into the developer’s pocket but into escrow accounts of a bank, which acts as the guarantor of completion. The bank gives the money to the builders only for covering work costs and purchasing construction materials at each stage of the work, and only if the materials used are exactly as described in the initial contract. The builder won’t see any financial benefit until he completes the project, so there are no sound reasons for not fulfilling the terms. Furthermore, when you buy a new build, you eradicate certain pitfalls, such as inheriting debts from the previous owner.
While many resale villas and apartments are ready to move into, many others will need work. The walls may need to be repainted, the plumbing may not work as well as it could, and the kitchen may need to be updated.
With a new build, everything is impeccable, as it is brand new. A developer often installs air conditioning as a bonus or proposes an excellent price on furniture and appliances.
Resale housing often needs a certain amount of redesigning for your needs or renovation. Any construction over 30 years old, which has not been renovated, will likely require significant renovations to be comfortable.
Builders made traditional Spanish bedrooms as small as possible. In many cases, with just enough room for a bed, bedside table, and a small wardrobe. Watching TV is an activity for the “salon” or living room. As a result, resale property buyers are often disappointed about the lack of space for a workstation and storage space in the bedrooms.
Modern Spanish developers focus on contemporary design, consider foreign buyers’ preferences, and design bedrooms with more space.
Thanks to the growing popularity of investing in Spanish property worldwide, buying a home in a new build gives you a more typical and convenient layout.
New builds are often built with the community in mind, in a gated area with gardens for the residents to enjoy, There could be play areas for children and perhaps a gym or spa. With resale housing, you are more likely to find apartments in older blocks without facilities or villas built on urbanisations with little to do nearby unless you drive into the town.
Adios To Squatters
The older a home and the surrounding area, the higher the chance of squatters getting into your home. An old, detached house is much more attractive to “okupas” than a property on an estate in a gated community with video surveillance and neighbours that keep an eye on empty properties.
Squatters in Spain are a significant problem due to lax laws and extortion gangs, So, bear the location of a property in mind when you are house hunting.
Pay In Instalments
The average build time in Spain is between 12-18 months. New build properties are paid for in instalments. A reserve agreement may be requested, usually between 6.000-10.000 €, and then payments are made as pre-determined stages of the work are completed.
Spanish developers offer remote viewing options with a sample new build house, including private online property tours when a home is under construction. You can view it via video conference. While some estate agents may offer online viewing for resale properties, it is only sometimes the case.
We have a complete and up-to-date catalogue of new build projects in Javea and the surrounding towns. Our real estate experts have extensive experience and will help you select a villa or an apartment that suits your exclusive needs. Contact us if you want to save time and money while choosing a new property.