New-build housing or a used property?
Are you thinking about buying a house in Cáceres and you still haven’t decided whether you want a brand-new property or a second-hand one? Below we break down the pros and cons of each option:
When it comes to buying a home, one of the most important decisions we have to make is whether we want a brand-new or second-hand house. Both options have their pros and cons, and it’s important to analyze them carefully before making a decision.
New-build homes in Cáceres
New-build homes are characterized by being completely new constructions, which have never been lived in. These homes usually feature modern architecture, with high-quality finishes and state-of-the-art materials. Some of the advantages offered by new-build homes are:
Pros of new-build homes:
Customization: When you buy a new-build home, you have the opportunity to tailor it to your preferences by choosing the finishes, materials, and layout you prefer.
Warranty: New-build homes typically come with a warranty of several years, covering possible defects or construction faults.
Energy efficiency: New-build homes usually include energy-efficiency systems, such as efficient air conditioning systems like air source heat pump (aerotermia), which translates into savings on your electricity and gas bill.
However, there are also some drawbacks when buying a new-build home, such as:
Cons of new-build homes:
Higher price: New-build homes usually cost more than second-hand properties.
Location: Often, new-build homes are constructed in areas farther from the city center, so their location may not be ideal for some buyers.
Delivery timelines: In some cases, new-build homes can take several months or even years to be completed, which can be a problem if you need to move urgently.
Taxes to pay: For a new-build home you’ll have to pay 10% VAT, and if it’s a VPO you’ll pay 4% VAT, to which you must add the 1.5% stamp duty (AJD).
Second-hand homes in Cáceres
Second-hand homes are properties that have already been lived in or at least have had an owner. These homes may have older architecture, but they can also be more affordable. Some of the advantages of second-hand homes are:
Pros of second-hand homes:
Lower price: Second-hand homes usually cost less than new-build properties.
Location: If your plan is to live in the city center, most properties will be second-hand homes. If you don’t mind living on the outskirts, you’ll also find houses with fewer years of age and in better condition—many of them ready to move into.
Ready to live in: Unlike new-build homes, second-hand homes are already built and therefore ready to be lived in immediately, unless you’re planning to make any improvements.
Taxes to pay: On second-hand homes, VAT is not paid. You’ll need to pay the Inheritance and Transfer Tax (Impuesto de Transmisiones Patrimoniales), which will vary depending on the autonomous community where the property is located. In the case of Extremadura it is 8%.
However, there are also some drawbacks when buying a second-hand home, such as:
Cons of second-hand homes:
Possible renovations: Second-hand homes may require renovations or repairs to adapt them to the buyer’s needs, which can mean an additional cost.
Less customization: Unlike new-build homes, second-hand homes don’t offer the possibility to customize the layout or finishes.
Energy efficiency: A second-hand home is usually less energy-efficient. However, nowadays—and increasingly—owners invest to improve their home’s energy performance.
