5 pros and 5 cons of buying property under construction in Spain.
5 pros of buying property under construction in Spain
First: favourable price.
Of course, any real estate object under construction is much cheaper.
Second: payment.
The payment method is very "flexible", which gives you time and opportunity for convenient distribution of your finances. Usually, the construction process in Spain takes about 8-10 months, so you will be able to split the payment within this period.
Third: opportunity to choose.
You will have the opportunity to make any changes to the planning and design of your future property, as well as choose finishing materials, furniture, appliances, and so on. Because real estate in Spain is sold really quickly, there are not so many available properties left at the end of the housing construction. Thereby, you will have to choose from what is left on the market, while at the construction stage, you can choose any object, considering the view from its window, orientation, location in the complex, and so on.
Fourth: remote monitoring.
During the construction process, you will be able to remotely monitor the entire process until the date of commissioning, receiving monthly photo and video reports from the construction site.
Fifth: No "surprises"
Primary real estate naturally does not have any "surprises" from previous owners in the form of debts, mortgages or mechanical defects. Plus, you will get a 10-year warranty for your property object and a 2- or 3-year warranty for all the finishing materials and furniture.
So, it was 5 pros of buying property under construction in Spain! Well, and now let’s take a look at 5 cons of buying property under construction in Spain.
5 cons of buying property under construction in Spain
First (and the most vivid): terms.
You will not be able to move into your own finished home right away. You will have to wait. As we have already said, the construction process takes about 8 to10 months, so you can get the keys to your new apartment or villa after commissioning only.
Second: visual perception.
It will be difficult for you to imagine how a completed house will look like, seeing in front of you only an empty section or construction site only. BUT, for such cases there are show-houses in Spain. They are finished houses from the same developers, where you can assess the quality of construction and materials, as well as feel the atmosphere of the upcoming house.
Third: neighboring structures.
It is worth paying attention to other construction processes that are already running within the radius of your facility. So that after commissioning, it didn’t turn out that the neighboring buildings blocked your view from the window.
Fourth: reliable intermediary.
For sure, it’s hard enough to find a truly reliable real estate company that will act on your behalf throughout the whole construction process to protect your interests.
Fifth: missed deadlines.
There is a small probability of failure to meet the deadlines due to unforeseen circumstances: floods, pandemic, and so on.
