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The appeal of buying an off-plan property in Spain is understandable: it’s a great way to invest your money. Not only do you pay less for a home that you normally would, but you also usually get a say in some of the construction and design aspects. There are a large number of both positives and negatives involved in the off-plan buying process that can be hard to navigate, so here are our Top 3 pieces of advice as well as a few pros and cons to have in mind.
The process of buying a new-build or off-plan property in Spain differs substantially from buying a resale home, especially when it comes to signing the contracts, so today we are bringing you a brief summary of each step.
Until recently, buying an off-plan property was a great way to secure a bargain but also something to be very cautious about. However, times have changed. These days buyers of off-plan properties benefit from much more legal protection and, as long as all necessary due diligence is carried out, the process is usually a smooth ride.
For some property investors, investing in a new-build can seem like a risky investment. However, thanks to recent updates in Spanish consumer law, if you choose the right Developer the risk involved is minuscule and you will be rewarded with a brand new home at a very affordable price. Does an off-plan home not appeal to you? Some people will take the route of purchasing a resale property, which also has its risks but means they can view the home in person before coming to a decision, as opposed to a show house or digital plans given to them by a Developer.
August is usually the busiest month for tourism, but this year is shaping up to be a quiet month for the Costa del Sol... Click to read this months newsletter.
