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Buy new housing or make reform?

Buy or do any intervention in the place that we are going to live or business, needs a deep analysis and time to determine what we are going to do with it, this is a considerable outlay for which we must have clear numbers and why not, the comparatives in many cases.

It is also important to do feasibility studies prior to making the investment, if it is better to buy an apartment for first home, rent or second home. In this the place influences, either in the urban area or in some municipality of the outskirts, the area, the state of this and last and most important: the price. This is when we must look if it is better to buy new construction or used to reform.

While it is true that the purchase of a property in most cases involves a long mortgage, since these involve their time and management expenses and also the monthly obligation to pay, raise questions between buying new or used, such as in many other cases the credit or economic facility is available without going through it.

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In recent years, the purchase of new construction properties has increased, but, at the same time, second-hand properties have led, in a large percentage, to carry out renovation activities. From the experience of Reforms Barcelona Low Cost in recent years has increased by 40% the reform of second-hand real estate (acquired in the last 5 years) not including reforms in homes already consolidated or known as the housing of a lifetime , this means that the boom in the reform is growing and that people also opt mainly to reform before buying new construction. The house as it is logical will have its value regardless of whether this new or second-hand or according to the city, municipality and location, because if we take for example Barcelona Capital the value is very high compared to a municipality for example in the Llobregat area or the Kisses.

 

Fig. Price of the house in Barcelona by districts.

STATE OF HOUSING: KEY EFFECT FOR PURCHASE

It is possibly the most important visually before making the purchase, in this case second-hand, since the main thing is to evaluate, or even advise on the state of it, structure, floors, walls, state of facilities, finishes, ceilings, because in these cases you can get an idea of ​​what it costs you to reform, for many would be a headache both the price and the works, being crucial to know if you risk a new construction or second.

Fig. Aspect of a newly renovated house. May 2019

Another of the options for adding value to housing is the partial reform or washing of face of this, generating a timely reform in what most need returning to an excellent state without doing many works and revaluing it even more.

Therefore, if we have the necessary investment and we want to give it value, the best option is the reform, since we acquire the property for a lower value and when carrying out said reform it is revalued without having to make a large initial expense for the purchase, as in the case of the new construction.

The price of a reform ranges from 15,000 euros to 50,000 depending on the qualities, area and type of design. While the investment of a house of new construction would be located around 150,000 euros up to 500,000 euros depending on location and city.