Can´t decide whether to buy a property that is used and renovate it to your own taste or buy new that is ready to move in. Let´s have a look at some pro´s and con´s of each:
If you are looking for a complex with a pool, sports and a lot of green area then you will be best to buy in a new complex out of the centre. In the town centre you will mostly if not in all cases find second hand properties. Although these buildings are older you will still have to pay more because of the location - close to shops, beach, restaurants etc. This will be more comfortable for people not wanting to use their car.
For a second hand home you may pay slightly less on your tax depending on how much you spend. On a brand new property you pay IVA (VAT) which is 10%. On a property classed as second hand you will pay transfer tax - ITP. Below €300,000 is 8%, €300-700,000 is 9% and above €700,000 is 10%.
If you do buy a second hand property that is more than 35 years old it is more likely poor insulation and carpentry which will consume more energy and cost more in your bills.
While you may save money on buying something to reform you need to make sure you properly calculate what jobs will need doing and also allow some extra for things you may not be able to see until you start the work. For example pipes that need replacing but you don´t notice it until you start fixing up your home. If you do reform then you can use this time to put some renewable energy in your home like solar panels.
Properties in the centre usually will have less facilities so you may have a cheaper community fee to pay. On the other hand there is less places to park so you may have to consider paying for a monthly parking space.
New properties come with a 10 year warranty so if you do notice any defects after moving in you can request the builder to come a fix it for free. They are also more efficient as they will comply to all the new energy, health, safety rules etc.
In a new property you will have more sports facilities and as new properties are generally out of town you will have much more green space too which is much nicer on the eye than walls and buildings. You will also find it much quieter and peaceful rather than the sound of cars, emergency service sirens and mopeds. So take into account whether you are looking for a quieter life or you enjoy the people on the go atmosphere.
In a new building you will also receive all the latest extras like a fully fitted bathroom and kitchen with all the latest appliances. A bedroom en-suite, in some cases with all the bedrooms. Cross ventilation, more natural light plus sunscreens for those hot days. If you buy out of town you will also benefit from more privacy as there is less chance of being overlooked. When buying out of town take into consideration the public transport and where the schools are if these are things that would affect your decision. If you have a car there is more chance of a new property having a car park space for you, sometimes you may get two spaces.
So as you can see there is a lot to consider when buying new vs old but it really depends on the kind of lifestyle you are looking for. Do you want to relax by a quiet pool everyday or walk to the restaurants everyday and not spend much time in your home?
In any case South Spain Properties will have the home to suit your needs so do not delay. contact us now to book an appointment or for more information on our properties.
