In the next article we will discuss about buy to renovate – a good investment?
buy to renovate – a good investment? Advantage and disadvantages.
Why is it a good idea to buy a property to renovate it?
Here are some of the reasons why buy to renovate – a good investment?:
- Old apartments are those that can be found in city centers or important where prices tend to be higher; whereas, for instance, in the outskirts new apartments are built as the city grows so they are usually new.
- If you search “apartments to renovate”, you will notice is cheaper by far. That is because the owner does not assume the cost of the integral renovation and leaves to our choice the changes we would like to make.
- As these properties are buildings in which you have to invest a considerable amount of money and time, the demand is lower and its price is lower.
- The owners of these old apartments usually have them already paid, so they have a broader margin to negotiate the final price – in our favor.
- When making the integral renovation of the property, you will be able to do it in such a way that when you accomplish it you will get a sustainable home that will allow you to save money.
- There are efficient renovations subsidies of which you can benefit provided by most of the Spanish Autonomous Communities.
- You can renovate your home to your liking. You can even make an integral renovation, to make that apartment a real home suitable for you.
Is there any disadvantage when buying to renovate?
It would be in your interest to assess the disadvantages when deciding if this option is the best for you.
Firstly, it is necessary to evaluate whether you will be able to live in the apartment.
Finally, if the price of the integral renovation is inconceivably high you will end up spending more money. It is important to make sure that the total price of the home as well as the reform are economic advantage for you.
Thinking of buy to renovate – a good investment?
Thinking of buying a home or an establishment and then renovating it?
If you are thinking of making an integral renovation in Marbella and you have questions, CONTACT US and we will ADVISE you.