{"id":6210,"date":"2024-10-22T13:22:27","date_gmt":"2024-10-22T13:22:27","guid":{"rendered":"https:\/\/hihomes.es\/?p=6210"},"modified":"2024-11-28T13:41:37","modified_gmt":"2024-11-28T13:41:37","slug":"new-construction-vs-resale-which-is-the-smarter-move","status":"publish","type":"post","link":"https:\/\/hihomes.es\/pl\/new-construction-vs-resale-which-is-the-smarter-move\/","title":{"rendered":"Nowa konstrukcja a odsprzeda\u017c: Kt\u00f3ry ruch jest m\u0105drzejszy?"},"content":{"rendered":"
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The Costa del Sol property market offers diverse options for buyers, but one question often stands out: Should you buy a new construction property or an existing (resale) home?<\/strong> In the second episode of Costa Insights<\/strong>, Kian Bennani and Matt Campbell dive deep into the pros and cons of each, helping you make an informed decision tailored to your needs.<\/p>

Understanding the Basics:<\/strong> When starting your property search in Spain, understanding the fundamental differences between new construction and resale properties is essential.<\/p>

New Construction (Off-Plan):<\/strong> Buying from a Developer: This is a straightforward business transaction with clearly defined steps. Customization Options: Some developers offer personalization options, such as choosing tiles, countertops, or even modifying layouts. However, flexibility varies by developer. Handover Timeline: Off-plan properties require waiting for construction to complete, which could take years depending on the stage of the project.<\/p>

Resale Properties:<\/strong> Buying from a Private Vendor: This involves more emotion, as sellers often have a personal attachment to their homes. Immediate Availability: What you see is what you get, allowing for immediate occupancy once the sale is finalized. Condition of the Property: You can physically inspect the property, but older homes may require updates to plumbing, electrical, or general infrastructure.<\/p>

Hidden Costs to Consider:<\/strong> Understanding the costs beyond the list price is crucial when buying property in Spain, as these differ for new and resale properties.<\/p>

Resale Properties:<\/strong> Transfer Tax (7%): Applies to the purchase price. Legal Fees (1%): Covers the lawyer\u2019s due diligence and paperwork. Total Costs: Approximately 9% of the purchase price in Andaluc\u00eda.<\/p>

New Construction:<\/strong> VAT (10%): Instead of transfer tax. Stamp Duty (1.2%): Additional tax specific to new builds. Legal Fees (1%): Similar to resale properties. Total Costs: Approximately 13.2% of the purchase price. Buyers should factor in these differences when budgeting, as they can significantly impact your final outlay.<\/p>

Timing Your Move:<\/strong> Your timeline is a major consideration when choosing between new and resale properties.<\/p>

Resale Properties:<\/strong> You can expect to receive the keys and move in within 45\u201360 days of signing the reservation contract. Ideal for those looking for immediate use of their property, especially retirees or families relocating soon.<\/p>

New Construction:<\/strong> Completion timelines vary, with developers often quoting 2\u20133 years, plus a grace period for delays. Buyers should consider interim living arrangements, such as renting, while waiting for their property to be completed.<\/p>

Pros and Cons of Each Option:<\/strong><\/p>

Resale Properties:<\/strong><\/p>

  • Pros:<\/strong> Immediate availability. Potential for negotiation on price. Established communities with mature landscaping and amenities.<\/li>
  • Cons:<\/strong> Limited customization options. Potential for hidden maintenance issues. May require renovations or updates.<\/li><\/ul>
    \u00a0<\/div>

    New Construction:<\/strong><\/p>

    • Pros:<\/strong> Modern designs with energy-efficient features. Customization options available with some developers. Low maintenance for the first few years.<\/li>
    • Cons:<\/strong> Longer waiting period before occupancy. Initial development may feel incomplete (e.g., immature landscaping). Higher upfront purchase costs (VAT, stamp duty).<\/li><\/ul>
      \u00a0<\/div>

      Investment Insights:<\/strong> Your investment goals can determine the better option for you.<\/span><\/p>

      Capital Appreciation:<\/strong> New construction properties often appreciate faster in emerging areas like Estepona, especially when purchased early in the development cycle.<\/p>

      Rental Income:<\/strong> Resale properties in established areas like Marbella may offer immediate rental returns due to their location and readiness.<\/p>

      Making the Right Choice:<\/strong> The choice between new construction and resale ultimately depends on your personal circumstances and priorities.<\/p>

      For Immediate Use:<\/strong> If you want to move in quickly, resale is the clear choice.<\/p>

      For Customization and Modern Features:<\/strong> New builds offer the latest in design and efficiency, though patience is required.<\/p>

      For Investment:<\/strong> Both options have merit, but new builds may offer higher returns in developing areas, while resales can deliver quicker rental income.<\/p>

      Final Thoughts:<\/strong> Both new construction and resale properties have their advantages and challenges. By understanding the key differences, hidden costs, and timelines, you can choose the option that best aligns with your goals. Whether you\u2019re looking for a holiday home, a rental investment, or a permanent residence, the Costa del Sol offers opportunities for every type of buyer.<\/p>

      If you\u2019re considering buying property in Spain, get in touch with Hi Homes for expert guidance tailored to your needs. From finding the perfect property to navigating the purchase process, we\u2019re here to help you every step of the way.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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      \n\t\t\t\t\t#NewConstructionSpain #ResaleProperties #CostaDelSolRealEstate #SpanishPropertyMarket #InvestInSpain #PropertyAdviceSpain #CostaDelSolHomes #PropertyInvestmentSpain #HolidayHomesSpain #ModernHomesCostaDelSol #RealEstateInsights #SpainPropertyPrices #RealEstateTrends #BuyInSpain\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

      Czy powiniene\u015b kupi\u0107 now\u0105 nieruchomo\u015b\u0107 budowlan\u0105 czy istniej\u0105cy dom na Costa del Sol? Na tym blogu przedstawiamy zalety i wady obu opcji, podkre\u015blaj\u0105c kluczowe r\u00f3\u017cnice, koszty i ramy czasowe, aby pom\u00f3c Ci podj\u0105\u0107 \u015bwiadom\u0105 decyzj\u0119. Niezale\u017cnie od tego, czy szukasz natychmiastowego u\u017cycia, nowoczesnych funkcji, czy mo\u017cliwo\u015bci inwestycyjnych, ten przewodnik pomo\u017ce Ci porusza\u0107 si\u0119 po dynamicznym rynku nieruchomo\u015bci w Hiszpanii.<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[293,95,290,292,150,297,295,298,206,288,294,296,289,291],"class_list":["post-6210","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-costa-del-sol-homes","tag-costa-del-sol-real-estate","tag-holiday-homes-spain","tag-invest-in-spain","tag-modern-homes-costa-del-sol","tag-new-build-vs-resale","tag-new-construction-spain","tag-property-advice-spain","tag-property-investment-costa-del-sol","tag-real-estate-insights-spain","tag-real-estate-trends-costa-del-sol","tag-resale-properties-costa-del-sol","tag-spain-property-prices","tag-spanish-property-market"],"_links":{"self":[{"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/posts\/6210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/comments?post=6210"}],"version-history":[{"count":0,"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/posts\/6210\/revisions"}],"wp:attachment":[{"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/media?parent=6210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/categories?post=6210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hihomes.es\/pl\/wp-json\/wp\/v2\/tags?post=6210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}