Spain is going through a building boom, and, with building codes stricter than ever, now could be the perfect time to buy your own brand-new home. But what are the advantages of buying a new-build home in Spain, and what should you keep in mind?
Ready to move in
If you buy a home that’s known as ‘key-ready’, you’ll be able to move in straightaway, and know that everything will be working and in good condition. Spain’s building codes were tightened up in 2009, and now you’ll find quality levels much improved, such as in noise-proofing.
Remember to look out for some technicalities – if it comes with ready connection for air conditioning, it doesn’t necessarily mean that there is air con installed.
Of course, a big benefit of ready-to-move is that, if you’re purchasing a new-build home in Spain as an investment, you can start letting almost immediately. You’ll find many companies will often packages for things like furniture to help make the move even smoother.
Possibility to personalise
Depending at what stage of a new-build you buy, you could be able to personalise your property exactly how you want it. If you want another bathroom, or to split one room into two, you’ll be able to – and often without much change in the price, as the main costs borne by the developer come from the land (and that doesn’t change).
Great communal facilities
Newer developments need to stand out in the market, and developers often do this by adding in some excellent communal facilities. Gone are the days of one small swimming pool: you’ll often find spacious pools, beautiful gardens, perhaps some sports facilities, extra parking and storage. Some will even have luxurious touches like their own spa!
Great news for the environment and your bills (especially in a country with high electricity costs): almost all new-build homes in Spain will be built to at least CEE B, the equivalent of EPC B. Utilities will therefore come in much cheaper; EPC B is at around €280, compared to €1540 for an EPC G property.
It means that, in winter, the property will remain warm and, in summer, cool – keeping a comfortable temperature all year round.
Strong rental possibilities
Most new-builds are light and spacious, compared to perhaps slightly darker, more traditional styles. As well being rather nice to live in, these kinds of styles are particularly popular among Scandinavian renters – a big part of where the money is for anyone with a new-build home in Spain as an investment!
If you’re buying off-plan, then you’ll have an aval bancario, or bank guarantee or insurance, and the law obliges banks to repay/refund for unfinished properties. Any cost of setting this up will be taken on by the developer, not by you. In other words, the system heavily protects you, the buyer. The Spanish financial crisis has, in many ways, weeded out the wheat from the chaff.
Make your move to Spain as smooth as possible with expert advice in our comprehensive, free Spain Buying Guide.
Brush up on your negotiating tactics and get yourself more house for your money! Find out how in our free guide, How to Negotiate Abroad.
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