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.
Retirees Andrew and Julie Thompson are loving life in their new Costa Blanca home, which they found after a friend introduced them to HomeEspaña.
The Thompsons, from Birmingham, completed on their townhouse in Orihuela Costa on 8th March 2022 and moved in the following week. Assisted by HomeEspaña, they made a successful offer for the property in December 2021, agreeing a purchase price of €95,000.
“I first started looking at properties when I came to Spain without Andrew in October 2021,” said Julie, who worked as a pharmacy manager. “Initially it had been to visit a friend who had moved over a few years before. But we had just accepted an offer on our house in the UK, so my friend knew we were ready to start looking for a place over here. She showed me around – we knew Benidorm and Torrevieja but not Orihuela Costa – and I loved it. She then took me to meet HomeEspaña, who she had used to buy her home, and they showed me a whole array of properties.”
From her first visit, Julie was able to work out that a townhouse in Playa Flamenca would make an ideal home for her and Andrew, who had worked for Royal Mail. She returned to Spain in December and did more viewings with HomeEspaña, earmarking a few townhouses that she thought were just right.
“So I went back with Andrew to show him,” continued Julie. “There was one house in particular I really liked and was keen to buy. He agreed and we made our offer, securing the property with a €5,000 reservation deposit! Before we flew back to the UK, HomeEspaña were great at organising everything for our purchase, such as connecting us with a lawyer, who we granted power of attorney and sorted out our NIE tax number, and liaising with the local notary. In fact, throughout the entire purchase process the team were really helpful, especially their after sales service.”
The various timings for the Thompsons move to Spain fell into place nicely. The sale of their Birmingham home completed on 28th February 2022 and their non-lucrative visas, which they’d applied for in January, arrived 10 days later. Their lawyer completed their property purchase in Spain for them, leaving them to move over in March.
They’re delighted with their new home, which is a two-bedroom townhouse on the El Horizonte urbanisation in Playa Flamenca. Downstairs they have a living area that leads to a kitchen and a toilet. Stairs lead to the first floor with the double bedrooms and family bathroom. There is also a solarium, while outdoor space includes front and rear patio areas and off-road parking.
“We wanted somewhere that is within walking distance of everything,” said Julie. “We’re still active and drive, but we were deliberately thinking ahead 10 or 15 years when things could be different. Here we can walk to the beach in 20 minutes or La Zenia Boulevard shopping centre in about 25. The area is perfect for people like us. We love going for a stroll, having the odd meal out and just living a relaxed life in the sunshine. And there’s enough going on with other expats, like social clubs, for when you want that.”
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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