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Why Not Off Plan? Buy Key Ready Property in Spain

Graham
The vast majority of properties on the Valencia Property website have always been key ready and usually pre-owned properties. We didn't get into the false gold rush that was the off plan property market and therefore we are probably a lot poorer for it. We did a few off plan properties but there was never a great demand for them in this area. That was happening elsewhere more than in Valencia. Time has proved our perceptions to be right. So here are a few words of warning if you are thinking of going down the off plan route.

1) Don't

2) Don't

3) Don't

As you may have noticed it is actually the same word repeated over and over again for effect and with a little bit of bold and underlining just for extra emphasis ;-)

Never to be Finished?
Why shouldn't you? The reasons are simple but there are quite a lo of them and the most important one is the last so make sure to read it and digest it well.
  • Spain has over 1 million properties for sale that are pre owned or key ready. If you cannot find the property that you want there then there is something strange about your request.
  • Key ready or second hand properties you can see, feel, touch and even smell. An off plan property is a pipedream of an architect's design board at times and the major issues of permission, build problems, snagging and more still have to be faced. You make a decision on a property that is already there based on your gut instinct and aspects you can see.
  • Even if an off plan property has a bank guarantee there may be issues in getting your deposit back if the project doesn't happen and therefore you have had your money tied up for a time in something that is not going to happen.
  • The best places are mostly built on now. Off plan property is generally in less desirable areas, ie not first line of the beach, restricted views of the mountains, not central in a city etc...
  • Finally the most important reason... price. If you cannot find a finished bargain from a developer in the area you want as opposed to an off plan bargain then I will buy you a coffee. What the hell! I will buy you 100 coffees. The finished units are ALWAYS cheaper than the off plan ones because the money has been invested and now the developer or bank is looking to claw back some cash.
Don't believe me? Then look at these bargains and compare them with the off plan prices from the same developer. Related Reading 1) Bargains in Murcia 2) March Podcast 3) The Truth About Bank Bargains