Buying a home off-plan, right or wrong

The main advantage it has buy house off plan is the price. According to the newspaper El Economista, it is estimated that the properties acquired in this way are usually 5% cheaper for the owners.

Some of the interests of buying off-plan homes are for the option of be able to customize the purchase and, for example, easily complete it with spaces such as a storage room and a parking space. In addition, this type of purchase has other advantages:

  • The guarantee of having modern, efficient finishes and in accordance with the Technical Building Code (CTE).
  • It usually has common areas such as a swimming pool or services such as a concierge.
  • It supposes a saving of money as a general rule, with respect to homes for sale of new construction already finished.
  • If you do not have a savings cushion that is too high, it is possible to pay for the future house little by little, until reaching at least 20% of the final purchase price, taking into account that mortgages usually cover a maximum the 80% of value appraisal of the first property and a 70% on the second residence.
  • The year and a half or two that the building takes can come from pearls to save, improve your employment situation or increase your income.

If we calculate the price we have spent to buy house off plan, two years ago in 2020 and the price that the same house has now, we can see that with the price increase that we have suffered during these two subsequent years, the cost of the current house is higher.

So if we're going to buy house off plan from a purchase made two years ago, we can say that the investment we made was a profitable investment and that it has already generated a benefit, since the current appraisal of the same home is higher.

Some of the new home construction has come to a drastic halt over the past two years. However, at present It is easy to find promotions that include the off-plan flats for sale, being part of them at a good price.

We know that times change and all basic goods are rising significantly, this affects construction since the materials used also make their price more expensive. This makes us see that it really is a perfect time to buy, since the revaluation of new construction homes It is something to take into account when investing.

Good time to buy instead of rent?

Despite the fact that this long commitment to carry out the buy house off plan, can make more than one tremble, according to various experts, the current situation invites you to be an owner and not so much a tenant. 

The Bank of Spain suggests that buying now comes out more on account, as revealed in the analysis carried out in the entity on the national savings rate. This is due to the recovery of the real estate market after the crisis. Instead, tenants are forced to set aside more and more money to pay rent.

36% of the tenants would have enough income to buy a house, but they do not have enough saving capacity. This percentage rises to 41% for young people (between 18 and 35 years old), which shows the greatest difficulties in accessing home ownership for this group due to the inability to save.»

In conclusion, if you decide buy house off plan, you have more advantages than buying a second-hand apartment, both in paying for it and in knowing that you choose your house and open it yourself.

From Inseryal by Marina d'Or we have been in the sector of the promotion, construction and sale of new construction apartments for more than 40 years. We are currently focused on the sale of apartments in Oropesa del Mar/Cabanes, these apartments are new construction and are also located on the very first line of the beach, which generates a plus of value in the event that you wish to buy an apartment in investment. We sell these apartments off-plan and are delivered fully furnished, equipped and decorated, ready to move into and with an innovative and current design.