When it comes to buying yourself a home, the choice of whether to buy new or used is an important one. Of course, there are advantages and disadvantages to both, but here are some things you ought to take into account.
Location: Depending on where you want to live, one type of property will be better than the other. Second-hand properties are generally in more lively and developed areas, like town centres, but this does make them noisier. New constructions, on the other hand, are often in the outskirts of cities, built on quiet, vacant lots, but this just means there is a lot of space for future developments.
Decor: The good thing about a brand-new house is that you can decorate it any way you want. That said, the existing style present in a second-hand property may be very attractive, historic or unique.
Financial considerations
Price and preservation: New properties are naturally in a better condition than used ones, but for this reason usually cost more. The inevitable deterioration of previously owned homes makes them cheaper, in general, but the upkeep makes them more expensive in the long run.
How easy it is to buy: It is normally easier to get a mortgage on a new build and there is less competition from other buyers since there are so many new apartments and developments. However, the fact that second-hand properties typically come fully-furnished and -fitted makes the buying process easier.
Expenses: Energy and water bills in new houses will be lower than in used ones as the insulation, heater, windows and other features end to be more modern and efficient.
As always, though, the choice is yours, so do your research and choose wisely.
Buying in Spain? Key facts about the property market
If you're thinking about buying a home, it’s essential to understand the current state of the property market. Should you wait, or is now the time to buy? To help you decide, we analyse the key indicators: price trends per square metre, interest rates, the Euribor, transaction volume, mortgages, and available financial aid.
Urgent property sales in Spain
Buying property in Spain is a dream for many, but the process can sometimes be lengthy and costly. With the year drawing to a close, there’s no better time to secure your ideal home and potentially benefit from great deals before 2025 ends. Urgent property sales offer a fast, cost-effective way to find exceptional opportunities within days or weeks.
Americans, Portuguese, Moroccans and Ukrainians buying more homes in Spain than ever
The latest data from Spanish notaries on property purchases by foreign buyers has revealed several records. Not only did foreigners pay the highest average price on record for properties during the first half of the year, but as many as seven nationalities also bought more homes than ever before on the Spanish market.
Spanish party Vox proposes higher taxes on foreigners to fund housing aid for Spaniards
Vox, a right-wing political party in Spain, has submitted a proposal to Congress to increase taxes on foreign property buyers. The money raised would be used to fund tax breaks for Spanish citizens and to support the construction of affordable housing.
Spain's most beautiful autumn destination, according to National Geographic
Spain is full of destinations to explore in autumn, when mountains and forests turn golden and nature’s magic feels more vivid than ever. It’s the perfect season to escape the summer crowds and immerse yourself in towns rich in history, culture and sample local fare.
American entrepreneur to revive abandoned Spanish village as tourist destination
Salto de Castro, a village in Zamora that has lain abandoned for more than 30 years, is set for a remarkable comeback thanks to American entrepreneur Jason Lee Beckwith. He has purchased the small border settlement with Portugal for €310,000 and plans to transform it into a tourist hub offering accommodation, dining, and leisure in a natural setting.
