Most people
know that the best way to get value for money when buying
a property in Spain, is to buy off plan, or at an early
point within the construction process. You can usually
be sure of getting a discount of 20-30% off the market
price of similar properties in the area. This is because
you are buying something that has not yet been built and
the money that you invest is used by the builders to complete
the project. In return for your early investment and your
patience in waiting for the project to be completed, you
are likely to benefit from an immediate increase in the
value of your property. In addition to this, while the
property is being constructed, the Spanish property market
is likely to move on, meaning that you stand to make even
more money once your property has been built( last year
the market moved on an average of 20-30%!) You need to
be careful when purchasing off plan and always used a
recognised developer, or at the very least, one who can
provide you with copies of the bank guarantee which you
would need in the event of the builder or developer running
into difficulty, or not finishing the project to the agreed
timescales.
The
next major consideration when buying in this way is to
discuss the time scale by which the project is due to
be complete, and also when the relevant payments are required.
These can vary from developer to developer. Usually, you
will pay a downpayment, plus 25% at the beginning of the
project, the next 25% once the foundations have been laid
and so forth until the project is completed, and the property
has been paid for in full. This can vary though, with
some developers requiring much less of an up-fron investment.
Some Spanish banks will give you an agreement in principle
for the majority at the usual 70-80% Loan to Value, so
that once the construction is complete, the mortgage can
be used to pay the remaining ammount.
Here at Si Villas! we can guide you through the whole process. We will introduce you to the most exciting developments taking place in your favoured locations. Our panel of mortgage brokers will help you to decide the most suitable way to fund your purchase. Our panel of solicitors are on hand to make sure that all bank guarantees are in place, and that all assurances and timescales are adhered to.
We only deal with the most reputable and established building firms who have a record of quality constructions, and customer satisfaction. We have access to the very best developments all over Spain and because of these relationships, can assure you the most competitive prices on our all of our Spanish properties. If you want to take advantage of the high returns involved in off-plan purchasing, give us a call and let us take you through the latest developments that are happening throughout Spain right now.
Call us today to see how we can help you to buy a property off- plan in Spain..
