Resale or New Build - The Pros & the Cons?

Resale – Advantages

Resale – Disadvantages

Need to be in a position to buy when you see what you want (finance all in place)
No guarantees on the structure or the appliances. So budget for a surveyor.
Old building standards means poor insulation. So can be cold on winter evenings. 1/3 of Spanish properties are at least 70 years, a similar number are over 50 years old. 80% have a G enregy rating or worse
Budget for repairs and maintenance and replacement electrical appliances.
New EU eco regulations mean owners of older properties could face considerable expense to bring them up to minimum requirement before being allowed to sell. From 1st January 2030 properties all properties will need an energy rating of at least a G in order to sell. From January 1st 2033 the energy rating will have to be D

New Build - Advantages:

Latest building standards with high insulation specifications saves on energy. Most new build homes now have either an A or a B energy rating
10 year guarantees on build, as in the UK. Appliances with makers’ guarantees.
Well designed - latest stylish fitted bathrooms - kitchens with Silestone worktops choice of floor and wall tiles and the latest LED lighting inside and out.
Most are designed to give more privacy.
More secure with the latest tech gadgets & offer better capital gain
Once a new build is reserved Spanish Law protects the buyer by fixing the priceand taking the property off the market. There now are also bank guarantees for all deposits paid.
New builds usually have a furnished show house to view so you see the sizes of rooms and quality of the fixtures and fittings.

New Build - Disadvantages:

You have to wait an average of 12 months for completion
New build prices have been increasing due to the rising cost of building materials
If you buy off plan you will need to pay instalments during the build time with theinal 50% due on completion.
You might not like the contemporary designs.
Tend to be smaller plots