Off-plan properties

OFF - PLAN properties are homes that are still in the design or planning phase, meaning that the construction has not yet started. Purchasing off-plan has a range of advantages, with the main draw being more reasonable pricing. Let’s take a look at some of the other advantages of buying an off-plan prop erty!

Perhaps the most exciting part of pur chasing an off-plan house is that you will have more design options, for ex ample, the choice of an open plan kitchen and living room rather than two separate rooms. Another benefit is that today’s construction rules are more centred around sustainable and environmental ly-friendly designs, meaning you will be saving money on energy bills.

Off-plan properties in Spain are much cheaper than resales or finished homes, priced at almost

15 - 20 per cent cheaper than existing properties. They are also a great investment opportunity, as the value of the property will increase as it gets closer to completion. This means you may have profit at good rates while waiting for the construction to be com -

Off-plan properties also offer better payment plans. A downpayment of 30 - 40 per cent in instalments is usually expected, and the remaining value will be paid after completion.

When buying a property from a construction company in Spain, the seller has to guarantee the important parts of the property against any structural defect, securing it for at least 10 years.