11 
Real estate in Spain
New building or older property, so -called second -hand?
Do you like Spain and are wondering whether to buy a property here? Making such a decision is quite essential. Just as it is essential to know what you really want. Do you want to have a villa for yourself, for your own needs or want to rent the property? Or are you going to community housing? Do you want to devote yourself to real estate and maintenance? Or do you want to live immediately and immediately, without any intervention in the property or wait for the construction of the property?
We will try to help you in at least one area of decision -making, whether to buy a new building or get a real estate of the older so -called "second hand". Maybe it will help you in your selection.
New buildings
We mean all the buildings that are under construction, come or are freshly completed.
Pluses of new buildings
• Clearly large plus is the quality of construction. The way of building in Spain has changed significantly over the past ten years. It began to place great emphasis on the quality of material, work itself and design. Developers have understood that if they want to sell, they must adapt to the market requirements, clients themselves. So most of the new buildings are already built in the European standard. What does that mean to you? That you will no longer have to interfere with the property and avoid possible reconstructions.
• Another positive is a guarantee - for new constructions, the materials and the implementation of 10 years are guaranteed. No one will give you this for older properties! If there is a problem, everything is solved directly by the developer. The Planning Act (LOE) ensures that each new property has one year of coverage for damage or defects in the completion of the work, for three years on defects that affect the habitability of real estate and 10 years for defects in the construction of the property.
• Location. Most of the new buildings are situated on the edges of cities, recreational areas. This is also due to greater accessibility of land in these areas. Of course, you will also find developers that build in the center, such as Torrevieja, Alicante. But there are considerably fewer.
• Real estate size. Much of the new buildings are quite generous in terms of size. If you want a villa for yourself, it is also standard to have your own garden, outdoor terrace or swimming pool.
• Design. Outdoor and indoor design of new buildings is unmatched with the design of an older property. The time went ahead, the needs changed. For new buildings, everything goes with trends and times, they are airy, modern, practical and often timeless.
• Modern technology. If you are a fan of modern technologies, you will not overlook new buildings. You can have a photovoltaic power plant on the roof parts, solar panels for water heating, underfloor heating in bathrooms or outdoor whirlpool on a solarium. Also popular is the second, outdoor kitchen, which you can use in the case of grilling with family and parties. The property also has low -power lighting, thermal insulation for temperature control.
• Another investment. An indisputable advantage is also that if you choose a new community housing property, you do not have to burden the cost of investing in common areas by default. Everything is just new - so no repairs of the pool, gym, parking space or joint staircase.
Minuses of new buildings
• The biggest minus is of course the price. The price of newly built properties is usually higher than that of second -hand real estate. And you just won't negotiate a lower price, even if you go directly without an intermediary or a real estate agency.
• The standard is that you do not usually have a new building available immediately. Of course, there are exceptions or new buildings that are already sold. However, in the case of developers, you usually really have to wait.
• The last minus are taxes and fees related to the sale of real estate. In general, you must add 10 % of value added and 4 % of the price of the property to the price of the new building.
Second -hand property
PLUSS FOOD FROM SECOND HAVE
• Price. Second hand real estate is simply cheaper. If you take into account statistics, then per square meter, second -hand real estate are cheaper by approximately 17 %. So if you have a lower volume of money you want to invest in real estate, this is definitely interesting for you.
• Taxes. In general, you pay less taxes for second -hand property. It's not such a big difference, but there is a difference. The buyer must pay the real estate transfer tax for the second -hand property, the amount of which depends on the areas in which it is located - usually the rate between 6 % and 10 %.
Minuses of the second -hand real estate
• Real estate age and related reconstruction and costs. In general, older properties are simply not in such a good condition. Just because they were built with another technology, at a different time, with less emphasis on quality. So we definitely recommend allocating resources for the medium range of reconstruction and at the same time counting on postponing money for possible reconstruction of common areas if you buy real estate in the style of community housing.
• Location. Much of the second -hand real estate is in the center of towns and buildings. Here it must be said that it can be positive for someone because he likes noise and life. But for someone who likes more privacy, these properties are in a very bad place.
• Equipment. In general, second -hand real estate is less equipped than new buildings. In the case of community housing, you do not have to have a swimming pool or common relaxation space. Do not count on a common gym or sauna.
• Total quality of the building. The quality is what is constantly discussed in older buildings. However, all experts agree that the quality of construction itself is completely incomparable with new buildings. Despite the fact that some argue that these are mostly buildings for years.
• Lower energy efficiency and higher expenses. Second hand houses are mostly used materials, coatings or systems that are less efficient than those used now. This generates higher energy expenditures and thus higher costs for the future.
• Technology. For older buildings, do not expect any modern technologies - no photovoltaics, modern techniques of water heating.
• Design. For older buildings, expect a worse design. Do not expect larger windows, better light, modern spaces or materials. It is also usually worse the spatial arrangement itself in the property.
• Real estate check. It should be emphasized that older properties may also have a problematic past of previous owners. So there is some caution and it is necessary to have the property thoroughly checked. No one desires to deal with any execution, suspension, insolvency of former owners.
What type of property do you choose is up to you. I can wish you a happy hand for you and if you want to advise, do not hesitate to contact us, we are here for you…
