Although it was considered a modality left aside in the last years of real estate crisis in Spain, the return of new construction promotions has made new buyers choose to acquire the property at the pre-sale stage, that is, when the project is still in plans.
This alternative is profitable mainly because it implies a saving on the value of the property when the construction has been completed and the last units are offered. According to the Chamber of Commerce of Spain, said this year that the price to buy on the plans is at least 5% lower than the price during the second phase of the project and up to 10% on the value of the finished home.
The Chamber of Commerce of Spain indicated other advantages of this purchase alternative: it allows saving more time for the initial payment, which would imply requesting a financing for a lower value and paying less interest, in addition the buyer will have more options to choose the floor that you want, as well as the possibility of customizing the finishes of the home.
Daniel Cuervo, secretary general of the Association of Developers and Builders of Spain, declared in the newspaper "El País" that, considering that a new work may take between 18 and 24 months to be completed, "the passage of time is to the detriment of the who buys at the end and for the benefit of the one who buys now ". Taking into account that prices tend to rise, this option allows buying a home without possible accumulated increases.
On the other hand, other specialists explained to the newspaper that once the work is over, the house that had been bought in plans will have been revalued. According to the newspaper, it is common for promoters to establish a strategy in which customers who buy at the beginning of the project are rewarded for their trust and because in the end their decision makes it viable to market the work.
Here are some recommendations that Easy Brava can grant you if you want to buy a home on plans:
Investigate: You must demand the accreditation of the property of the site where the promotion is going to be raised, and other certifications of project processing, especially the application for a work permit.
Study the private contract before signing with the company: It is necessary to verify that the document shows the price of the house, disaggregating in a separate figure the amount corresponding to the VAT; In addition, the specific date of delivery of the keys must be established. It is also advisable to have the supervision of an expert that helps the buyer to identify possible abusive clauses.
Require a detailed report of qualities: to be able to verify in the delivery of the house that the construction conforms to the promises of the promoter. The quality report must include information on all the construction materials, surfaces, common areas and qualities of all finishes.
Request the plans of the building, so that you can choose the best option available with all the information on the distribution of space and areas of equipment in sight: Secondly, of the chosen home, to know the exact distribution of the interior architecture and the dimensions of the spaces.
Keep all the documentation and advertising brochures: Legally, all information they have is integrated into a signed contract, so it is very important to keep them.
Include a penalty for the developer in the contract in case the deadline for delivery of the home is not met. It is also possible to include the company to cover the costs of housing rental if the delay extends over time.
The buyer must take into account that there is a risk that this money can not be recovered in the event that the real estate development fails. In this situation, the most important thing is to verify that the amounts delivered are entered into a separate account with which the construction costs are exclusively paid.