It is no secret that the real estate market is divided into two large segments: new buildings and secondary housing. Each of them has its own characteristics, which are not always obvious. In this article, we will discuss the advantages of new housing compared to second-hand, especially considering that Spain is one of the European leaders in terms of quality and quantity of construction due to the warm climate and other factors.
8 key reasons
Lower utility bills
New houses in Spain have energy efficiency classes A and B, which means lower energy losses due to modern materials and technologies. For example, a house with a Class A certificate loses an average of 25 kWh per square meter per year, which, with an area of 100 m2 and a tariff of €0.13 per kWh, will cost €325 per year. In older houses with Class D, energy losses can reach 92 kWh per square meter, which increases heating costs up to €1,200 per year.
Ready to live and long service life
In Spain, almost all new buildings are put into operation with finishing and a ready-made kitchen. This means that the walls are painted, tiles are laid, plumbing is installed, and the kitchen is fully equipped. Developers often provide bonuses such as air conditioners or discounts on furniture. The dry and sunny climate ensures a long service life of buildings without the need for frequent repairs. Secondary housing, on the contrary, often requires significant investments in reconstruction, especially if the building is old.
Modern layouts
In Spain, where a significant part of life takes place outdoors, bedrooms are traditionally compact, and living rooms combined with a dining area are more spacious. Modern developers take into account the preferences of foreign buyers and make the rooms more spacious and comfortable, which makes the layout of new buildings more attractive.
Developed infrastructure
In Spain, it is customary to build housing complexes, creating the appropriate infrastructure for permanent residence. A typical Spanish complex is a gated community with several two— to three-storey houses, a swimming pool, lawn, barbecue area and other amenities. More expensive urbanizations may have gyms and SPA centers. Unlike the "secondary" housing in a new building offers not only an apartment, but also a complex with infrastructure integrated into the environment, as well as additional security due to limited access.
Protection from occupation
The older the housing and the surrounding area, the higher the probability of occupation penetration. Older houses are more attractive to squatters compared to housing in gated urbanizations where CCTV cameras are installed and residents know each other.
Transaction security
In Russia, buying new housing is often associated with risks, such as bankruptcy of a developer or unfinished houses. In Spain, buyers' money is transferred to escrow accounts in a bank that acts as a guarantor of completion of work. The bank pays for construction work and materials as they are completed, and the developer makes a profit only after the construction is completed. This eliminates the risks for buyers. Also, buying a new building eliminates problems with utility bills or other encumbrances from previous owners.
The possibility of buying in installments
In Spain, new buildings begin to be sold almost immediately after the start of construction. A phased payment system is common: reservation (6-10 thousand euros), signing an agreement with a payment scheme. Usually, 50% of the cost of housing is paid during the first six months, and the remaining 50% — after the house is rented and the purchase and sale agreement is signed. This scheme may vary depending on the policy of the developer.
Remote viewing and backup
Spanish developers offer many options for remote viewing of housing, including individual online tours of facilities under construction. Documents can also be signed remotely via video communication.