Why buying a property to renovate is a good idea

When making a decision as important as buying a property, many ask the same question:

Is it better to buy a move-in ready home or one that needs renovation?

Here are some reasons why buying a property to renovate can be a good idea.

A home needing renovation can offer the chance to personalise the space and create the home you want without building from scratch.

Properties needing renovation are often cheaper, allowing you to invest the purchase savings in the work you want.

If your concern as a buyer is the disbursement for the realization of the works, the experts calculate that the common thing is to allocate between 500 and 700 euros per square meter, which would raise the price of the renovation of a house of about 90 square metres to between 45,000 euros and 63,000 euros, adding kitchen, bathrooms, floors, masonry, painting, electrical installation and licenses.

Although the final price will always depend on the materials used and the magnitude of the changes to be made.

Tips:

Before buying a property to renovate, obtain quotes from 3 companies. Remember that not always the cheapest is the best option.

Ask for a breakdown of materials and labour, including applicable taxes, so that you understand the renovation's total cost.

A fixed quotation should specify:

The full price
Start and end dates of the work
Description of work and surfaces
Materials and specifications, including brand and model if already chosen
Obligations: repairing any damage, warranty period and how to make a claim.
A works project prepared by a specialist

Fundamental:

Analyze the state of the house.

Although you can look for cracks and damp yourself, an architect can assess the property's actual condition and identify issues an untrained eye may miss.

The average cost of this advice to review the property is between 300 and 1500 euros for one hour.

In addition, if the property in question is a flatWe mustn't forget the common infrastructures! Check the façade, pipes, lift, heating system and meters. Work on communal parts after your purchase will be at your expense and could increase the monthly charge, creating an unexpected expenditure.

Experts advise to know if the building has been the subject of the technical inspection of buildings (ITE) recently, or should it be done in the next few years. This is a technical control that must be subjected to the constructions of more than 45 years and that can be consulted in the Town Hall.

Advantages of buying a property to renovate

As we have explained before, the price of a property needing renovation is lower. The more renovation you need, the cheaper it will cost us. All the money we save in buying the purchase of this new home, we will be able to dedicate it to its subsequent renovation.
By reforming, you can leave the house to your taste, can change even the distribution of the rooms. Something difficult to carry out in a house that is already ready to enter to live.
You can improve the home's sustainability in an easier way, which will make you save in water, gas and electricity, and by the way, contamines and waste less.
Wider choice of locations. Currently, in the real estate market, the number of dwellings to renovation is far superior to the rest of the properties, which means that you will have a wider range to choose the area where you would like to live or rent.
Aids and grants. Resale homes may be included in public assistance and grant programmes. Ask your town hall before starting work.
Taxes. Generally, the purchase of second-hand property means a payment of taxes lower than in the purchase of a new property, since this is calculated on the value of the property and not on that of the writing.

1469612851 certified energy efficiency for housing and premises

In Dream Sun Spain We are very aware of the growing demand for housing to renovation that exists in our area. La. Costa Blanca is the ideal place to live and, in turn, to make profitable, because it is one of the favorite areas of European tourists, who come to spend their holidays and fall over to the climate, gastronomy and the multitude of landscapes.

These properties combine two things international buyers value: preserving traditional Spanish features and adapting a home to their needs. This has made overseas buyers an important source of demand for village houses needing renovation.

Although, little by little we are seeing how the national public joins this modality, especially after the pandemic sequela in the real estate world and the escape of the floors with little light and without balconies, which predominate in the market of more modern properties.

We we trust and recommend our partner Delta TM. A multidisciplinary team, with more than 40 years of experience in building single-family homes.

Their technical team supports you throughout, from assessing your needs to enjoying the completed project. The focus is on construction quality and current energy-efficiency requirements, saving energy both for efficiency of your homebut also to the care of the environment.

Here we leave you some of our partner's work so you can inspire yourself and report: