Advantages and Disadvantages of Buying New Construction

Buying a home is one of the most important decisions in life, and we must consider certain aspects such as location, condition and amenities. On the one hand, the supply of second-hand properties is greater and possibly more central, but it is also possible that renovations and improvements will be necessary. However, buying a new build means greater energy efficiency, more quality guarantees and greater customisation.

One or the other can be attractive for different reasons depending on our preferences and needs. Therefore, before investing in a home, it is necessary to evaluate several aspects. In this case, we are going to focus on the advantages and disadvantages of buying a new construction home. Let's start!

ADVANTAGES OF BUYING A NEW CONSTRUCTION

Buying a new home is a great opportunity for those looking for their first home to be modern and equipped with the latest technologies. Investing in new construction offers numerous advantages. Let's have a look at some of the most attractive elements that can make us decide to buy new construction.

Brand new home

When purchasing A new construction house, you acquire a home ready to move into once finished. It is very unlikely that renovations will have to be made to the exterior or interior of the property, so the expense in spills or works will be much less than in a second-hand home.

On the other hand, in some new works, it is possible to personalise the home, according to the needs, tastes, and economic capacity of each person. You can anticipate the choice of the type of home you want to buy (a first floor, with or without terrace, an attic or a ground floor, among others), the finishes, the colours of the rooms or the distribution, with the aim of choosing your home extent.

Greater energy efficiency

Buying a new construction home means having a high level of energy efficiency in your home, which optimises consumption. Aspects such as thermal insulation, low-consumption lighting, more efficient appliances and electromechanical equipment, and the use of renewable energy sources allow considerable savings on the bill.

In addition, the rooms are efficiently distributed to make the most of natural light.

It is an investment for the future

Another advantage of purchasing a new home is that you are making an investment in the future. The current price for which you buy the new construction may increase as the building is constructed. Therefore, buying off plan is a very attractive long-term investment idea.

Greater guarantees and payment facilities

The Building Planning Law allows claims up to three years after the purchase if there are damages or defects in the facilities, and for 10 years if there is damage to the structure of the building.

Moreover, an advantage of purchasing a new construction home is the availability of fixed instalment payment options that are not accessible when buying a second-hand home.

They have communal green areas and parking

The new developments usually include amenities such as communal areas and green spaces, paddle tennis, football or basketball courts, gym, swimming pool in some cases and parking. An oasis of tranquillity in the middle of the city, where you can spend time outdoors with the little ones in the house or with friends.

If you are thinking of buying a new property, we can tell you that the Costa del Sol is one of the best areas to invest in property in Spain. Its strategic location close to the Mediterranean Sea and its fantastic climate, with almost 365 days of sunshine a year, will allow you to enjoy the outdoor facilities and contribute to greater energy efficiency.

Disadvantages of buying a new construction

Of course, buying a new construction also has some drawbacks that should be considered before investing in it:

• The price: the initial investment of buying a new construction can be higher since the house is ready to enjoy. Of course, in the medium and long term these houses are more efficient, they do not need remodelings or other extra expenses.

• Location: new constructions are not usually located in the city centres, but on the outskirts. Very few new construction properties are located in the centre, especially due to reclassifications of the buildings.

• Entry: in case of buying a new construction house off plan, you will have to wait until it is built to be able to enjoy it. 

So, what is more convenient? New construction or second hand? You will have to consider many factors, especially the location and your needs and circumstances. Now, regarding the price, we could say that it is not a determining factor. What you save on the price of the house you may have to pay later for renovations, apportionments or energy efficiency improvements. In addition, the cost per square metre of buying in a central and consolidated urban area will always be higher than buying in a suburban or newly developed area. It's all a matter of perspective and preference according to your needs. 

Invest in new construction and build your future with Prime Invest

New construction has once again filled an important gap in the Spanish property market. By buying off-plan, you not only save on renovations and energy efficiency, but you also have more time to raise the necessary finance while the work is being carried out, you have the opportunity to customise the home of your dreams and you have communal outdoor areas. Most importantly, you have a greater guarantee of quality and the peace of mind of knowing that every room in your home will be transformed.

Now that you know the pros and cons of investing in a new build, you may be interested in Prime Invest's residential developments. They have a modern design and are perfectly integrated into the already impressive natural enclaves of the area.

At Prime Invest we have estate agents who will guide you through the entire buying process. We are committed to sustainability and energy efficiency, as well as elegance and comfort. We are waiting for you!