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.
It took HomeEspaña just a few weeks to find buyers for Michael Wiseman’s home in the Costa Blanca, even with all the disruption caused by Covid.
Michael completed the sale of his townhouse in Orihuela Costa in November 2021, after listing the property with HomeEspaña only a couple of months prior. Covid had delayed him from putting his property on the market and he expected the pandemic to hinder his attempts to find a buyer. But he needn’t have been concerned!
“I actually decided to sell before Covid happened in 2020, which led me to first making contact with HomeEspaña,” said Michael, who lives in Maidenhead. “But lockdowns and circumstances meant I didn’t get out to Spain to meet the team and get the house on the market until September 2021. By then I was worried it was a bad time to sell, given everything that was going on with Covid still, but I didn’t want to wait any longer. Fortunately I was wrong!”
HomeEspaña wasted no time listing Michael’s property and attracting viewings. They found Michael buyers, who are an Irish couple, within about three weeks and he was delighted to be able to accept their offer of €145,000.
“I can’t thank Rob and the rest of the HomeEspaña team enough for their help,” said Michael. “It’s a tricky decision choosing someone overseas to act for you and I know it took forever for me to appoint Rob, thanks to the neverending Covid issues. But hats off to him, he persevered with me throughout the whole saga. I should also praise HomeEspaña for their faultless communication, a quality that I consider essential. And another special thank you must go to Julie in Aftersales. She was brilliant and worked really well with my lawyers to help get everything wrapped up quickly. Meanwhile, I want to wish the new owners all the best and hope they have as many years of fun in the house as we did.”
Michael’s property was located in the popular Zenia IV community, which straddles the neighbouring resorts of Cabo Roig and La Zenia. A three/four bedroom townhouse, he bought it off-plan in 2004 for approximately £90,000 and over the years enjoyed lots of family holidays there with his two children, who are now adults.
“It had a front garden, back yard, solarium and access to a communal pool,” continued Michael. “The location was lovely, with the beach, amenities and restaurants all within walking distance, not to mention the fantastic climate and accessible flights from the UK. It was ideal for the children to visit as they were growing up and wanting some independence, so all-in-all a great family holiday home. I admit I’ll miss Cabo Roig a bit, but it has served its purpose and it’s time for me to try somewhere different.”
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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