What is better, a home under construction or finished?
If you’re thinking about buying a home, you may be facing a major decision: should you opt for a home under construction or a finished home?
In this article, we will explore the pros and cons of each option to help you make an informed decision.
Homes under construction: advantages and disadvantages
Homes under construction have some unique advantages that make them attractive to buyers.
Advantages
- Lower prices: Homes under construction are often sold at lower prices than finished homes. This is because developers need to attract early buyers in the construction process to obtain the necessary capital to continue.
- Customization: If you buy a home under construction, you are likely to have the opportunity to customize some aspects of the house, such as the choice of paint colors, the arrangement of cabinets, and the types of floors.
- New: All homes under construction are completely new and have not been used before. This means you will be living in a home that is completely yours and you don’t have to worry about the problems and repairs that may arise in an older home.
Disadvantages
- Waiting time: Building a home can take several months or even years. This waiting period can be a problem if you’re looking to move quickly.
- Uncertainty: Buying a property under construction means you are trusting the developer to fulfill their promises. If there are delays in construction or problems with the project, this can be uncomfortable.
- Risks: There is an inherent risk in buying a property under construction. For example, there may be a decrease in the value of the home once it is completed or there may be problems with the quality of construction.
Finished homes: advantages and disadvantages
Finished homes have their own advantages and disadvantages that you should consider before making a decision.
Advantages
- Immediate mobility: Once you buy a finished home, you can move in immediately. You don’t have to wait for construction to be completed.
- No surprises: With a finished property, what you see is what you get. There is no uncertainty about how the house will look when it is completed or if there will be problems with the quality of construction.
- Higher resale value: Finished homes have a higher resale value than properties under construction, which means they are more likely to maintain their value over time.
Disadvantages
- Higher prices: Typically, finished homes are priced higher than homes that are under construction. This is because the builder has already invested time and resources into completing the home, and is looking to recoup those costs.
- Limited customization: With a finished home, you usually don’t have the opportunity to make changes to the home’s design or layout. What you see is what you get, and you’ll have to work around any existing features that you don’t like.
- Wear and tear: A finished home may have some wear and tear from previous owners or from being on the market for a while. This can include cosmetic issues like scuffs on the walls or scratches on the floors, or more serious problems like worn-out appliances or a leaky roof.
What is better, a property under construction or completed?
The decision on which option is better depends on your personal needs and priorities.
If you prefer immediate mobility and don’t mind paying a bit more, a completed property might be the best option for you.
However, if you are looking for an opportunity to customize your home and are willing to wait a bit longer to move in, a property under construction might be a good option.
In conclusion, both options have their pros and cons and it is important to carefully evaluate your needs and priorities before making a decision.
Conclusion and Summary
We hope this article has helped you evaluate the advantages and disadvantages of each option and make an informed decision on what is best for you: a property under construction or completed.
Additionally, we recommend that you speak with an experienced and trustworthy real estate agent who can help you navigate the home buying process and answer any questions or concerns you may have.
It is also important to consider your financial and budget needs when making a decision.
If you are looking for a property under construction on the Costa del Sol, you may have to make a larger initial investment, while if you opt for a completed property, you may have to pay a higher price for the home.
Ultimately, the decision on which option is better depends on many factors, including your personal needs and priorities, your financial and time resources, and the location and features of the property you are considering.
It is important to make an informed decision and be aware of all relevant factors before purchasing a home.
In conclusion, if you are looking to buy a property in Spain, whether a property under construction or completed, Bona Fide Costa (Real Estate Mijas) is the most suitable real estate agency for you.
We offer a wide range of housing options to meet the needs and budgets of all of our clients.
Contact us today for more information and to start your home search!