After the economic crisis that affected the real estate sector and our whole country so badly, sales of flats in cities like Barcelona plummeted. In fact, this meant a reduction in the number of new-build flats for sale in Barcelona. However, this segment of the market is starting to resurface. Do you know why? Here we are going to explain the 5 main advantages of buying a home off-plan.
1. Increase in property value
Buying off-plan in Barcelona is, in general, much cheaper than a resale home. This means that the moment the keys are handed over, the flat or the house in question is worth much more than its purchase price. Of course, it is necessary to ensure that the terms and conditions cannot be modified once the sale has been completed.
2. Cheaper to buy
Off-plan properties are cheaper than resales. In fact, it is estimated that on average, a new-build property can cost between 15% and 20% more than one that has already been built in Barcelona. Therefore, if you have the opportunity to wait long enough for the construction to complete, it would a great investment.
3. No need for repairs
More and more builders are giving home buyers the possibility to customise certain aspects of their home. In this way, once the keys are handed over, the new owner does not have to do any repairs on the property based on their needs and tastes. In addition, it is normal to find the property fully furnished before moving in, especially in regard to the kitchen and bathroom.
4. Greater financing flexibility
When buying a resale home, it is necessary to pay 30% in fees. In general, you will have to pay a 20% deposit and the rest in taxes and management expenses. However, when buying off-plan, everything becomes more flexible, since it is not necessary to pay for many of these fees until the contract is signed and the keys are delivered. This offers the possibility of using the additional time to save your money without paying more for the property.
5. Ability to choose the property you really want
In the resale market, the buyer has to choose between the options he or she has. However, in the new-build market, you can choose the property based on the features you want from it, such as its location, orientation, etc. This guarantees a much higher degree of satisfaction.