Resale versus New Build Property in Spain: A Comprehensive Comparison
Whether you’re looking for a holiday home, an investment property, or a permanent residence, one key decision is whether to buy a resale property or a new-build home.
HomeEspaña was especially pleased to find Mark and Caroline Ashley their perfect holiday home – it happened while filming for the hit TV show A Place in the Sun!
The Ashleys, who live in Kent, got the keys to their townhouse in Orihuela Costa in January 2021. They viewed and agreed to buy the property while filming for the Channel 4 property programme in November 2020.
“We first went out to look at properties in February that year and planned to go back in April,” said Mark, a 55-year-old financial advisor. “Lockdown put a stop to that. Then we got picked to appear as house-hunters in an episode of A Place in the Sun, so we returned with the TV crew and presenter Scalette Douglas in November. HomeEspaña’s property was the second that we viewed and as soon as we saw it, we knew it was the one!”
Recorded live for the show, Mark and Caroline made a successful offer (in euros) worth £84,700. The property had an asking price equivalent to £90,000.
Before returning to the UK, the couple secured the property with a €5,000 deposit and HomeEspaña took then to arrange power of attorney for their purchase.
Despite lockdown preventing the Ashleys being present on completion day, their purchase went smoothly, helped throughout by the HomeEspaña team.
“They were brilliant,” commented Mark. “They kept us up to date with everything and I felt confident they would ensure everything happened okay while we were back in the UK. We would definitely recommend HomeEspaña.”
It was the property’s location that appealed most to Mark and Caroline. Located within the Las Mañanitas community, they are an easy walk from the beach, shops, bars and restaurants. But they were also attracted by the potential to extend.
“There were just two-bedrooms upstairs when we bought it,” explained Mark, who has an adult son, Noah. “But I noticed how other properties in the community have added a third bedroom by extending into the rear courtyard. The president of the community, Dave, had even done this and he referred me to his builder, who I used to add our third bedroom with en suite. I also used him to instal four air con units and a new boiler, as well as do bits in the kitchen. The whole lot came to circa £12,850 and was done within two-and-half weeks, all while we were back in the UK!”
Now they have the property just how they want it; Mark and Caroline are excited about visiting once travel restrictions ease. They intend to visit six or seven times a year, kicking off with a trip down there in their campervan, which they will use to load new furnishings. They have no plans to do rentals but will let friends and family use the property.
“Being able to work remotely should mean we can spend increasing amounts of time there,” said Mark. “And I’m looking forward to golf weekends there with friends, which should be much more comfortable with three bedrooms!”
Whether you’re looking for a holiday home, an investment property, or a permanent residence, one key decision is whether to buy a resale property or a new-build home.
Whether you’re seeking a second home, a retirement haven, or an investment opportunity, understanding the differences between regions can help you make the right choice.
Here are some Frequently Asked Questions regarding the new law and the answers we hope will help potential and current homeowners understand the new scenario and its implications.
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