Now you’ve decided to buy property in Spain, there’s one more major choice to make -

Whether to buy resale or off plan?

The main factor, as far as most buyers are concerned, in choosing off plan is the lower cost. If you’re buying a holiday home or a house to live in, buying off plan will get you more property for your money. If you’re looking for a property with good investment potential, your best bet is an off plan property in the early stages of development.

Look for the resort and property most likely to give you the highest capital returns on your investment deposit. Once you find your dream property, you need to pay a small reservation deposit to take it off the market. In the next four to eight weeks, you will sign the purchase contract and will then need to add to the reservation fee to total around 25% of the purchase price. With a purchase of price of 100,000 Euros this would be up to 25,000 Euros. + 7% IVA (VAT).

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