Buying new construction Spain: 8 checkpoints that developers do NOT tell you
You would like to invest in Spanish real estate. But where do you start? With the developer or broker? To avoid pitfalls, it is best to go to a licensed real estate agent. Buying directly from the developer does not immediately offer added value. Here are 8 checkpoints that developers do NOT tell you when you want to buy a new property in Spain.
Search through real estate agent
When you are looking for Spanish real estate, it is best to let a real estate agent assist you. This offers advantages in several areas. One of the advantages that people hardly realize is that a purchase agent in Spain is completely free of charge for the buyer. This is especially interesting and important to know if you are looking for a new property or investment on the Costa del Sol. Therefore, we recommend you as a client to start your search for the ultimate dream home through an estate agent, and not to go directly to the developer. After all, the prices remain the same everywhere for 1 specific property/project, but a developer will of course explain his project in a non-objective way. A real estate agent, on the other hand, acts in the interest of his client, you!
8 checkpoints for buying new construction in Spain
If you want to buy directly from the developer, there are some important points to consider. The developer focuses solely on selling his project and will therefore work in a non-objective way. We list for you 8 checkpoints that you should take into account:
- Beautiful sea or mountain views: remain what they are? One is not always objective! So your real estate agent should check what the construction possibilities are in the area.
- Other external factors – The sales division of developers is there to sell their project in the area. How reliable is their assessment of the location? Are there any potential snags? e.g. scent, noise, unhealthy industry, or will you end up in a construction pit for the next 5 years?
- How far can you cover yourself contractually? We are and will remain your point of contact!
- Which construction qualities are used in which project? We know all major developers on the coast and can provide you with objective advice.
- What is the realistic completion date? Is the date specified by the developer actually achievable?
- What if the completion is not respected? Is there a fining clause in the contract?
- Phase in the project – Will the project be expanded in the future? Is this of interest to you? Or maybe not. The developer is not always objective about this either, because the sales focus is always on the current phase.
- Comparable properties – Over 30% of buyers buy something different than they originally had in mind. Therefore, ask your broker for comparable properties.
Would you like more info about buying a new property in Spain? Do not hesitate to contact us!
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