Do you want to buy a new home that incorporates the most up-to-date energy-saving and design features?
Or a previously owned property that may require repairs, paint, and the redistribution of walls to create the types of open spaces that are so trendy today?
BUYING AND INVESTING IN A NEW BUILT PROPERTY IN THE COSTA DEL SOL (PROS AND CONS)
PROS: Green Building/Energy Consumption
A newly constructed home is almost always the superior option if you care about “ENERGY CONSUMPTION” — whether that means the money you spend on monthly energy bills or your concern for the environment. Homes built now frequently meet or exceed Energy class criteria, which are energy efficiency code standards that are significantly more stringent than they were only a few years ago.
In reality, most newly constructed homes come with energy certifications for the walls, roofs, windows, doors, and appliance packages. Because they were built to considerably lower standards almost no resale homes offer certifications.
This topic is becoming even more relevant as the European Union is proposing measures that would make it illegal for homeowners to rent or sell properties that have insufficiently energy efficient, potentially excluding many homes from the market unless owners invest in energy efficiency improvements such as insulation.
PROS: Modern Layouts
If you appreciate modern living, a new home with all the bells and whistles, flexible open-plan layouts, appealing landscaping, and the like may be a better investment than an older home in need of major repairs.
PROS: No replacement Costs
New homes are unlikely to require major repairs for at least ten years, and in most cases, they will be covered by the builder guarantee. The ability to personalize your house during the construction process (such as changing the floor plan, boosting closet space, or upgrading to cutting-edge appliances) eliminates the need for substantial renovations.
CONS: No space for negotiation.
When buying a new development in the costa del sol, what you see is usually what you’ll spend, plus any upgrades. Builders dislike lowering base pricing since it alters the development’s comps and leads to more purchasers seeking for methods to negotiate lower prices.
BUYING AND INVESTING IN A SECOND HAND HOME IN THE COSTA DEL SOL (PRO AND CONS)
PROS: The location is ideal.
The central location of most second hand homes in the Costa del Sol is by far the most compelling incentive to buy these properties. The convenience of being close to all the amenities, beaches, ports, old towns as well as all of the modern conveniences and services we rely on every day, makes a significant impact.
CONS: Replacement Costs
The appliance you buy in a resale home have likely been in use for some time and may need replacement. They may or may not be warranties, but if there are, they are likely to be restrictive.
Consider some of these cost replacements for example:
- Heating and Air Conditioning
- Kitchen Remodel
- Flooring/Carpeting/Tile/Hardwood Floor refinish