| Buying
property in Spain and in particular the Costa del Sol is still a
wise investment choice, as long as you have the right professional
team behind you and advising you on the best course of action. Despite
the world economic climate that we have all experienced and lived
through, if a ready buyer has cash in their pocket, the simple fact
of the matter is that they are king, and only then do the “mythical”
bargains actually start to exist. Also, if a prospective buyer definition
of bargain is of a realistic making, and taking into account the
surrounds, location, amenities and so forth, then yes there are
good property deals to be had.
However,
it is essential and absolutely necessary that people, who want to
buy in Spain, must seek professional advice and not to be swayed
by fantastic prices and good salesman talk. Amongst the deluge of
available property from existing villas, to new apartments, and
even too plots of land, there are property gems everywhere, but
finding them is what takes the time.
Buying
and Plot of Land
First things first, insist the seller shows you a copy of the Escritura
(Title Deeds). This Notarised document will describe the land and
its boundaries. Be aware as this is most important simply because
if the owner's name is on the Escritura it does not necessarily
mean that they own the land. Every time a property is bought and
sold a new Escritura is created and it is very important before
entering into any agreement to purchase land, to ensure it is free
from fines, charges or other encumbrances. For a very small fee
you can obtain on-line details of any embargo's mortgages etc, listed
against the land in question.
Second,
visit the local Town Hall and ask to see the general plan (P.G.O.U)
and enquire if the land in question is categorized as building land,
urban or rustic and is not classified Restricted or Protected?
Thirdly,
seek professional advice and guidance as every country is different,
so why take this risk of spending hundreds of thousands of Euros
buying a plot of land, when you can pay a small fee to be 100% certain.
Architect
and the Professional Team
Choose your architect carefully and ensure he works for you. Often
architects are retained by builders, either in house or independently
so for your own security it is very important that your architect
has your interests and your interests only in mind. The builder
should follow the architect's plans and directions to the letter.
The architect is one of the key people to be involved in your project,
they should be available to discuss every detail of your plan, several
meetings may be necessary before the project is finalised and the
plans produced. Language can sometimes prove to be a problem; if
your architect can speak your language this is a great advantage.
A
Project Manager / Coordinator controls all the key aspects of the
project whilst ensuring that you, the Client have had all your key
objectives met that you put forward right from the beginning of
the project. Dealing with the local authorities, the architect and
at the same time ensuring the budget is kept on track and the build
quality is inline with the specification is all part of the Project
Management role.
The
Builder
If you can arrange a credit check on the builder it could save you
much heartache in the future. Regrettably a minority of builders
has created an unfortunate reputation for the building trade in
general; a few have been known to declare bankruptcy half way through
a job. Stage payments should be controlled according to a schedule
laid down in the building contract. Under no circumstances should
the builder be allowed to be ahead on payment. At various stages
in the building, his work will be inspected, if it is up to standard
then payment for work completed is authorised. It's worth establishing
the total number of men employed by the builder in his business.
A one man and his dog operation could take a very long time to finish
the job! Ensure that the building contract is drawn up by someone
other than the builder and is as comprehensive as possible. Builders
have an irritating habit of adding extras, as the work progresses.
Beware an additional wall, a modified window, an extra archway or
a new architectural feature will be regarded as an extra and is
likely to be expensive!
Time
Scales and Costs
Generally speaking from the time the site is cleared ready for laying
out the foundations an average sized house (250m² - 350m²)
should be completed within eight to 10 months. In the course of
construction there sometimes are other bureaucratic factors, which
could delay the project. Building Licences and Planning permissions
can sometimes take an extraordinarily long time to complete. This
can be due to a number of factors depending whether you are building
on Rustic land (outline planning permission from the government
department can take six months or more) or Urban land (anything
from two to six months, depending on the Town Hall.)
Building
costs on the other hand do not tend to vary quite so much; the price
quoted by a builder generally reflects the standard of the finish.
The following table may serve as a general guide:
Basic
Quality:
900.00 per m² (No frills, inexpensive wall and floor tiles
basic sanitary ware.)
Standard
Quality:
975.00 per m² (Wall and floor tiles to max cost of 15.00 m²,
regular pine carpentry, basic kitchen.)
Superior
Quality:
1080.00 per m² (Air conditioning/heating, double glazed windows,
quality carpentry. Wall and ceramic floor tiles to 20.00 m²,
good quality sanitary ware.)
Top
Quality:
1300.00 per m² (As for Superior quality but may include natural
stone work, marble floors, employing special skills and imported
fittings.)
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