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Buying off plan

Handy advice about buying off plan in Spain

Buying off plan in Spain means that you end up with a property that incorporates the latest building techniques and materials. Building regulations have been constantly improving in Spain over the years so brand new properties should be the best on the market, although, this does depend on the developers specifications.

Another advantage comes with the guarantees you are entitled to when you buy a newly-built property. Consumer protection laws in Spain cover different types of build defects for different periods of time, with the most serious structural defects guaranteed for 10 years. When you buy off plan you are covered for the maximum period.

In some cases developers allow you some say over the style in which the property is finished when you buy off plan (colours, flooring, certain fixtures). Finished properties have to be bought ‘as seen’ with no scope for building-in your own style from the start. Off plan property purchases can offer more flexibility in this area.

Lastly there is an ‘option’ advantage given the delay between the signing of sale contracts and delivery of your property. Should you change your mind about the development or the area you may be able to sell on the purchase contract to someone else, potentially making a profit in the process, and all without the expense of completing on the property. However it is becoming more difficult to sell on properties before completion due to the great expansion in the supply of new properties.

This is just some information that we feel is important to keep in mind when when deciding between a new build or re-sale property in Spain.

My New Home In Spain only work with reputable & respectable builders, a high standard finish property is very important to us.

For further information please do not hesitate to contact us using any of the methods at the top of the page.

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