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Aspects to take into account when buying a new-build home

The purchase of a new-build home is likely to generate a multitude of questions for the buyer, as there are many aspects to take into account for the transaction to run smoothly and problem-free.

Moving into a new-build home
is undoubtedly a source of great joy and happiness. But to avoid unpleasant surprises, it is important to understand all the regulations and the costs involved before formalising the purchase.

Berkshire Hathaway HomeServices Nova Mallorca Real Estate has been a reference in the property sector in Mallorca since 1969. Our long experience in the field means that we have first-hand knowledge of all the issues that need to be taken into account before buying a new-build home. Want to know what they are?

Tips for buying a new-build home

If you are buying a new-build home, continue reading and take note of the following tips:

Personalising an off-the-plan home to make it yours

Buying a house off-plan allows, in most cases, several changes to the design to personalise and adapt the property to the tastes and needs of the buyer.

If the building structure is already completed, it is possible to decide on specific finishing options, e.g. the flooring or the colour of the walls.

If you consider buying an off-the-plan property and customising it to your liking, talk to the developer or your real estate agent first to make sure which features allow for modifications.

Berkshire Hathaway HomeServices Nova Mallorca: real estate experts who have your best interest at heart

Buying a house involves a lot of important considerations. Hence the need to rely on the professional support of real estate experts for advice throughout the whole purchasing process.

Berkshire Hathaway HomeServices Nova Mallorca has been a reference in the real estate sector for more than 50 years. Our team of highly-qualified and experienced professionals will guide you through every step of the purchasing process. Contact us, we will help you find and get the perfect home.

Building specifications

The building specifications or "specs" detail the requirements for the execution of the construction in terms of installation, materials for exteriors and interiors, finishes and quality standards. If you are interested in this information, bear in mind that you can request the building specifications from the property developer at no cost at all.

Expenses and taxes

Buying a property involves paying a series of costs and taxes that every buyer should be aware of:

  • Value-Added Tax (VAT): in the case of new-build properties, this is 10% of the value of the deed. In other words, if the property costs €300,000, VAT of €30,000 must be added.
  • Land Registry: is paid at the time of registration of the purchase in the Land Registry; the amount varies according to the price of the property.
  • Notary: when buying a property, whether it is a new-build or a pre-owned one, a notary public certifies the signing of the sale and purchase documents. The cost of this procedure varies depending on the value of the property.
  • Agency Services: this is an optional cost for the future owner in case he/she decides to hire the services of an agency to take care of all the paperwork.

Find your new-build home in Berkshire Hathaway HomeServices Nova Mallorca

When buying a new property, many issues need to be taken into account to ensure that the transaction goes smoothly, i.e. without setbacks or unforeseen surprises. It is therefore important that, before signing the purchase contract, should you have any doubts, you consult a real estate expert who can provide you with clear answers to all your questions.

Berkshire Hathaway HomeServices Nova Mallorca's team of real estate experts are on hand to help you find your dream home. Come and see us, we have a large number of new-builds we can show you! You can also browse our website and view our extensive portfolio of properties.

Published: 14 Jun 2021
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