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7 Simple Steps To Real Estate Investing
Whether you are BRAND NEW to real estate investing or an expert in the game, it’s critical that you understand these 7 Simple Steps to real estate investing.
First things first…
• Real Estate is NOT a get rich quick scheme. However, if you...
Destin Florida Triples In 3 Years
Do you want to see something that is absolutely amazing? Let me show you what has happened in Destin, Florida over the last 3 years. Back in August of 2002, the median price of a home selling in Destin was $229,000. One year later, August 2003, the...
Lake Havasu Real Estate
Lake Havasu real estate is a hot commodity. With surrounding attractions such as the London Bridge, English Village, Mohave Desert, and Lake Havasu, it's no wonder that the place has become a popular place to live. When tourists decide to turn the...
Real Estate Marketing Mistakes And How To Avoid Them
The fundamentals of real estate marketing
Before we go into the best practices of a personal marketing program, it would be a good idea to touch on the key elements that make up such a program. Call it "Personal Marketing in a Nutshell."
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Tips on Budget Decorating
Home decorating on a budget is the ultimate adventure in decorating. It requires a little bit of planning, creativity, and patience. If you are like me, sometimes you wish you could be a genie and wiggle your nose and **poof** it's done....
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Buying Off-Plan Property In Spain
The main advantage of buying off-plan property is the discount you receive in price off the properties usual price or the selling price of the property once the development has been completed.
The reason developers are giving you the investor a discounted price is for the risk you are taking investing your hard earned money with them.
Realistically when buying through a reliable estate agency there is no real risk involved with investment in Spanish off-plan property, but like any investment where you hand over money before receiving the goods or services there is always an element of risk.
The usual discounts usually range from between 10 - 30% for off-plan property in Spain depending on the way you go about purchasing the property and who you purchase your off-plan property through.
A lot of people think that if you go straight to the developers yourself that you will save a ton of money on your property purchase, but if you do your homework you will find you will not get a much better pricing if not actually pay more for the off-plan property in Spain using this method plus needing a lot of time to do your research which would need to involve an actual flight to Spain.
Then of course there is the risk of running into problems with less than reputable developers, the kind you see all the time in many of the UK's news papers, if you do plan to take this method then you need to do some serious research and make sure you get a english speaking lawyer in Spain with your best interests at heart.
Also another distinct advantage of buying off-plan is that by the time the property has been built you should have 18 - 36 months capital growth on your investment.
Estimated capital growth would be about 10% Per
Annum of the total value of the property, therefore a 100 000 property over 24 months would have increased its value to 120 000 and taking into account that you got say a 20% discount (20 000) you would have already made 40 000 off your investment by the completion time of the development.
With the rising market in Spain and even with the inevitable leveling out of the property prices, an off-plan property is still a smart choice for property investment.
As stated above it is very tough not to make a decent profit buying off-plan property in Spain as long as you buy from reputable developers which any half decent estate agency would guarantee you.
On a final note, another big reason for buying off-plan property is the quality of the work and the buldings.
Buying off-plan means you will get the best and latest building materials and also the latest building techniques will be used on the property.
Laws and building regulations are being updated and improved in Spain to protect your property investment and this is also another reason why a new property would be the smarter and less risky option.
Furthermore you also get the advantage of having a 10 year guarantee against most serious structural defects and various other defect types are now protected under Spanish law.
About the Author: SpanishInvest.com is a property website specializing in Off-Plan properties to be bought for investment purposes. See http://www.spanishinvest.com for the best investment properties in Spain.
Source: www.isnare.com
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