Waiting for something is often worthwhile. This could be the motto of buying a home off‑plan, a formula with particular characteristics that make it suitable for certain buyers or situations.
Follow idealista/news on the WhatsApp channel (in Spanish)
Is it better to buy an off‑plan apartment in 2026? What does it involve? What are the advantages? Here are the answers to all your questions.
What is buying a house off-plan?
It is a formula in which a property is purchased before it has been built, based on plans, quality specifications and renderings provided by the developer.
Advantages of buying off-plan
Although many people prefer to buy a completed or resale property, buying off‑plan offers economic and other advantages that make it an attractive alternative for those looking for a new home. The most notable are:
Savings on the purchase price
Typically, the sale price during the early stages of marketing a development is lower than that of a property that is already built and ready to move into.
In many cases, buying a home before construction is complete can be up to 15% cheaper than the final price once it is finished. In addition, the buyer locks in the price from the moment the private contract is signed, avoiding potential increases during the construction period.
Note: If the developer attempts to increase the price due to market changes, you are not obliged to accept it. Review the contract or document you signed to understand what was agreed.
Greater flexibility in payments
Unlike buying a completed home, where it is usually necessary to have a large amount of savings from the outset, in off‑plan purchases payments are made in stages.
It is common to pay a small amount as a reservation fee and then make instalment payments during the construction process. This allows the buyer to better organise their finances and have more time to save. Generally:
- Approximately 10% of the price is paid upon signing the private contract with the developer.
- A similar percentage is paid in instalments during construction.
- The remaining amount is paid at the time of key handover, usually through a mortgage.
Possibility of choosing the best house
Buying off‑plan also offers more choice. By accessing the development at an early stage, the buyer can select the property that best suits their needs and preferences.
The buyer can consider aspects such as:
- The orientation.
- The floor level.
- The specific unit.
- The views.
- The number of bedrooms.
- The layout.
- The location within the development.
Note: The most in‑demand properties tend to be reserved quickly. Penthouses, in particular, rarely stay on the market for long.
Home customisation
Many developers allow buyers to modify finishes, materials or even certain aspects of the interior layout when purchasing off‑plan. Some of the most common options are:
- Choosing floors and wall coverings.
- Choosing between an open-plan or separate kitchen.
- Changing colours and finishes.
- Installing home automation systems.
- Adding upgrades or extra equipment.
Making these changes during the construction phase is usually much cheaper and easier than doing so afterwards.
Higher quality and more efficient properties
New‑build homes are constructed in accordance with current technical and energy regulations. This guarantees improved levels of:
- Thermal and acoustic insulation.
- Energy efficiency.
- Structural safety.
- Accessibility.
- Sustainability.
As a result, homeowners usually benefit from greater comfort and significant savings on utilities such as electricity or air conditioning.
In addition, many new developments include communal areas and exclusive services such as:
- Pool.
- Grounds.
- Gym.
- Sports fields.
- Coworking spaces.
- Children's areas.
Warranty
New‑build developments are legally required to cover defects, something that second‑hand homes do not offer.
- 1 year: coverage for defects in finishing and workmanship.
- 3 years: warranty for issues related to habitability or installations.
- 10 years: ten-year insurance covering structural damage that affects the stability of the building.
Is it better to buy off-plan in 2026?
Yes, it can be more advantageous than buying a new or resale home if housing prices continue to rise (some experts predict increases of up to 10%). Buying off‑plan allows you to secure a fixed price regardless of market fluctuations. In addition, the property may increase in value during the construction period.
Risks of buying a home off-plan
- Delivery delays: Construction may be delayed due to technical or administrative issues or shortages of materials, postponing completion.
- Developer's financial problems: If the developer faces difficulties, construction could be halted. Payments must be protected by a bank guarantee or insurance.
- Changes to the project: Modifications to materials, finishes or layout may occur during construction compared to the initial plans.
- Market fluctuations: The value of the property may change during the construction period, either rising or falling.
What to consider before buying off-plan
- Review the location: Analyse the area, nearby services, transport links and potential for appreciation.
- Compare prices: Check different developments to assess whether the price and quality are competitive.
- Review the contract: Carefully read payment terms, delivery deadlines, guarantees and any penalties for delays.
- Request the specifications document: This details materials and finishes and acts as a reference in case of changes.
- Research the developer: Check their track record, previous projects and reviews from other buyers to ensure reliability.
What to know to buy safely
To buy safely, consider the following:
- Confirm the total price of the property and any additional costs.
- Ensure that all payments are properly guaranteed.
- Verify the expected delivery date.
- Seek advice from a lawyer or real estate professional before signing.
- Check for any future urban developments planned in the area.
