02 08 2022

Advantages and Disadvantages of Buying New Construction


Buying a house is one of the most important decisions throughout life, and we must assess certain aspects such as location, its condition or amenities. Taking that into consideration, we find that the offer of second-hand properties is greater and possibly better located, but it is also possible that it is necessary to make amends and improvements. However, buying new construction means more energy efficiency, more quality guarantees and greater customization. 

Both alternatives could be attractive for different reasons according to our preferences and needs. Therefore, before investing in a house, it is necessary to assess several aspects. In this case, we are going to focus on the advantages and disadvantages of buying a new construction house. Let's start!

What do we call a new construction?

New construction has once again occupied an important gap in the Spanish real estate market . A growing, more professional and safer sector that makes more and more people choose to buy off plan.

Houses purchased directly from the real estate developer once their construction or refurbishment has been completed is what we call new constructions. Of course, they cannot have been empty continuously for a period equal to or greater than two years. There is also the option that this new construction home is not bought by an individual but by a bank.

It may seem obvious that the initial investment when buying a new-build house is higher than buying a second-hand one (always depending on size, area...), however, in the long term, it does not necessarily have to be more expensiv since a new construction house will not require renovation costs or reforms in the short term, and that its energy efficiency will generate savings. 

Advantages of buying a new construction

We are going to see some of the most attractive elements that can make us decide to buy a new construction house: 

  • Brand-new home: when you buy a new house, you buy a house that is ready to move into once it is finished, so it does not require any amend.  In addition, to take as much natural light as possible, new designs have its rooms distributed more efficiently. On the other hand, in some new works it is possible to choose the finishes or the distribution, achieving a home that is as personalized as possible. In addition, it is very unlikely that any extra works will have to be made to the exterior or interior of the property, so the expense in spills or amends will be much less than in a second-hand house.
  • Energy efficiency: buying a new construction house means having a high level of energy efficiency in your home, which optimizes energetic expenses. Aspects such as thermal insulation, low consumption lighting, more efficient appliances and electromechanical equipment and the use of renewable energy sources allow considerable savings at the end of the month. 
  • Guarantees: the Building Regulation Law allows claims for up to three years after the purchase if there are issues, damages or defects in the installations and for 10 years if there is damage to the structure of the building.
  • Common areas and parking: new constructions usually incorporate commodities such as common spaces,  green areas, swimming pools in some cases and parking. 

If you are thinking of buying a new-build apartment on the Costa del Sol, one of the best areas to invest in housing in Spain, you may be interested in taking a look at residential projects Prime Invest'sModern design and perfectly integrated into the already impressive natural enclaves of the area.


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 centers, but on the outskirts. Very few new construction properties are located in the center, 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 meter 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. 

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