Further to my posts describing the principles of, and the buying process for off-plan properties, here is a summary of what I see as the disadvantages:

Seeing the Property
If you purchase early in the construction phase, you will obviously not be able to see the finished product (the property), and depending on how early, there may not even be a show flat to view. There is always a slight risk here as to whether you will like the finished result.

Waiting Time
To get the best possible deal by buying off-plan, you will need to commit early on in the construction process, which of course means that you will have to wait a long time before your property is finished and ready for use (normally about 6 months to 2 years after the initial planning). This is obviously no good if you are looking to make a quick move.

The Area
The area of the development can change. You will be able to inspect the plot where your property is going to be built but you will not know for certain how the area is going to change during and after the constructions. It helps to get your lawyer to look at the local town plans for the area, but even then changes may occur, as new licenses to build can still be granted after you decide to purchase.

Delays
A high percentage of all new constructions in Spain are delayed either because of bad planning or because of some problems with getting the final licenses. The best way to make sure this doesn’t happen is to buy from respected promoters and to make sure that there is a penalty in the contract in the event of delays.

Quality
One other risk that worries a lot of buyers, is that the final quality of the property (particularly with respect to fixtures and fittings, is not as indicated in the sales information. Again the best way to ensure that this isn’t a problem is to only buy from promoters/constructors that already have a good reputation and have a track record of good previous projects, delivered according to specification.

So now you have a balanced view of the pros and cons of buying off-plan. Obviously we have all heard some bad stories particularly with regard to delays, but my overall impression is that the off-plan market here in Spain generally works well for all concerned. One final warning is to check the sales contract and ensure you are buying a ‘residential’ property if you plan to live in it for more than a month a year! and if you are buying an apartment remember to check that lease for any surprises.

For more on the residential property concern, please click on my previous article:

Property In Almerimar - Appartment Fraud

About Almerimar

Almerimar is located in the region of Andalucia, Spain. The nearest airport is 30km away in Almeria. Other airports that are within 3 hours include Malaga, Murcia, Granada, and Alicanti. Other holiday resorts in the region include Mojacar , Aguadulce and Roquetas de Mar

Almerimar is also one of the largest marinas in Spain with over 2,000 births and excellent boatyard facilities.