Now a new year is starting and it’s time to invest in a new home – and why not letting that new home be in a brand new development?
It is a special feeling to move into a brand new home where no one else has lived before. It’s a certain scent of new materials, everything is unused and even some of the things are still wrapped in plastic. If there’s anything that gives a strong feeling of a fresh start, it is a completely new home.
At MiMove, we have over 400 listed new construction homes and more are added to our portal every week. Popular areas for new developments are on Costa del Sol in places like Estepona, Marbella and Mijas, but also Torrevieja on the Costa Blanca.
Some other benefits of buying a brand new home are:
- The price remains the same during development as no bidding takes place as when you buy older homes. You can be sure to pay the price that has been agreed upon.
- It is a great investment for the future. One of the few things in this world that gets an increased value over time is real estate. The day you decide to move, you can be pretty sure of making a profit.
- Usually, new construction includes guarantees on all installations throughout the building and the apartments, the facade and the roof of the building. Some of them cover up to ten years and others up to three years.
- More safe that it is a hassle-free home. If you buy an older construction and afterwards realize that there is something wrong with it, such as mold or leaks, it will be your responsibility to solve.
- You avoid the risk of having to take over previous owners’ mortgages, which is quite common in Spain.
Higher return on investment
You can make a lot of money once you sell your newly built home, and usually the profit is significantly higher in percentage than when you resell an older home.
Some investors choose to sell the newly built home even before they get the keys, it can be profitable even in a very early stage like that that. If you want to resell the home as soon as possible, you can only do so when the lease agreement has been signed. You can resell the home even though you have not received the keys yet.
If you have the finances to buy more homes and some patience to earn the money for several years to come, you may want to invest in an entire housing complex and thus get an annual return on your investment.
The Time for Buying is Now!
According to Spanskafastigheter.se (portal about Spanish properties), “The most lucrative area is Costa del Sol, and it’s new construction – because of the lack of new housing in the wake of the long crisis, which is the most interesting for property investors. This applies in particular to the areas where there is still attractive land left to build on.
However, land prices are rising rapidly, and for each new phase of each construction, prices are going up. Should you be interested in buying a new production home in 2021 or in the future, buy now, not later. According to a study carried out by AEV, the Spanish valuation institute, sharp price increases are expected on housing in the upcoming years.
However, all indications are that the buyer’s market will prevail again during the first semester of 2021. Despite the fact that the market ran into a wall in March 2020, sales picked up again in the last week of May after the quarantine. The number of purchases among Swedes increased by 32 percent, between the second and third quarters of the year ”.
Spring and Autumn – the Best Time to Buy New Production
Spring, which coincides with the arrival of good weather and new energy after the long winter, is the best time to buy a new building. During the summer, transactions decrease and gradually increase again during the autumn and peak during the last quarter of the year (with the exception of around Christmas when it decreases again).