Wed 16 December 2020
Property News | On a budget?.. bag a project!
On a budget?... Bag a project!
If you are searching for your dream home in Spain, like most people, you are restricted by your budget. You may think that if you don´t have 200,000 euros plus, your search is limited. However, have you considered a "doer upper"? Taking on a project is not for everyone but if you do your research and find a reputable builder, the sky is the limit!
5 things to consider if you want to invest in a project.
1. Find an agent you can talk to- Sounds easy, but you will find some agents lose interest when you tell them you have a low budget. At Jacaranda Spain, we love to work with buyers who want to reform property. We are actively looking for property that needs renovation. We want to encourage buyers to believe they can do it, whatever their bank balance.
2. Consider the location- Do you want town or country? inland or coastal? Again, your agent will be able to advise you on how to get the most for your money.
3. Find a good builder- If you are a gifted "DIYer" you can do a lot of the work yourself. Finding a good builder can be challenging. Unfortunately there are some cowboy outfits around and we want to help you avoid them. At Jacaranda Spain we work with local builders and tradesmen all the time and have a go to list of those we are happy to recommend. We will happily take you to a property with a builder who will advise you honestly about costings etc before you take the next step.
4. Research property similar to the one you are interested in- Do some research on the kind of property you are thinking of reforming. Our team at Jacaranda Spain are happy to show you similar properties that have been renovated. It will help you decide on design and layout. Some people have vision when it comes to refurbishing but some people find it difficult to see past old dated interiors. Again, your agent is a fountain of knowledge when it comes to knowing what people find aesthetically pleasing.
5. Consider whether it is your "forever home"- It may be that you are planning to renovate to sell on and increase your future buying potential. If that is the case you need to be sure that your own personal tastes don´t override what most buyers are looking for. A blank canvas with neutral colours, light and space are the most important factors.
Reforming a property can be challenging, especially if you don´t speak the language and you are new to the area. At Jacaranda Spain we can give you the best advice on who to talk to, how to get quotes (presupuestos) and, if it is to sell on, how to best market and advertise the finished product.
Whether it is an old historic townhouse, a classic Spanish finca or an outdated villa we can help you to get started. Furthermore we are happy to provide ongoing guidance once you do get started. We will work with you to team you up with a builder who can work with you and offer advice in your own language. Call now to speak to one of our team about finding a project to suit you. Lets get your project underway!