New construction, off-plan or existing construction? The pros and cons!
If you want to invest in property on the Costa del Sol, there are several options to consider, including new build, existing properties and off-plan investments. In this blog, we discuss why investing in new build, existing or off-plan on the Costa del Sol can be a smart move.
New Build Spain
Investing in new construction on the Costa del Sol has several advantages. Firstly, new-build homes usually feature the latest technologies and modern finishes. This can mean that the property is more energy efficient, requires less maintenance and generally offers more comfort.
In addition, newly built homes are often located in new neighbourhoods and have a higher potential to increase in value. It can also be easier to find tenants for new-build properties, as they are often more sought-after by expats and people looking for more modern homes.
Existing construction
Investing in existing properties on the Costa del Sol can also be advantageous. Firstly, existing properties are often priced more favourably than new builds. This means you can buy a property for less money and may have money left over for renovations or improvements.
In addition, existing homes are often located in established neighbourhoods with extensive infrastructure. This can mean that schools, shops and other amenities are already nearby. Moreover, existing homes often have more character and charm than new construction.
Off-plan
Off-plan investments are investments in projects that are still under construction. These investments can be very lucrative as prices are often lower than those of completed homes. Moreover, off-plan investments can allow you to customise the property to your needs and preferences.
However, off-plan investments are also riskier than investments in new construction or existing homes. For instance, the project may be delayed or the builder may go bankrupt. It is therefore important to thoroughly research the project and the builder before making an off-plan investment.
Conclusion
Investing in property on the Costa del Sol can be an excellent way to grow your money and build a valuable asset. Whether you choose new construction, existing properties or off-plan investments, there are benefits and risks associated with each option. It is therefore important to research your options and seek FREE, no-obligation professional advice before making an investment.
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