This year has been a difficult time – like us, you’ve probably seen your plans postponed or cancelled. Fear has given way to uncertainty and many of those who were planning to buy a new house (either as a main residence or holiday home) have decided to put their purchase on hold because they don’t know what the future – or even the present – will bring.
Now that some time has passed, it’s time to get moving again and make progress with your plans. Although you might still be rather worried, it’s important to be aware that this isn’t really an economic ‘crisis’ caused by structural flaws like the one we saw some years ago. It’s a situation caused by a virus that will soon be addressed through vaccination and medical treatments. Before long, things will be back to normal because consumption has slowed due to restrictions on mobility rather than a lack of money.
In this ‘new normality’, we’ll have to adapt to a different way of life while continuing to move forward with our plans. Although there’ll be new safety and hygiene measures to follow (we think they’re a great idea and hope they stick around for the long term), it’s important to keep going and make progress.
Were you planning to invest in property in 2021? Well, go ahead and do it! If you’re still concerned, we’ve got some useful tips to minimise the risk. Statistics on consumer confidence levels from the CIS for April 2020 show that 9% of Spaniards were intending to buy a house before the COVID-19 pandemic. Young people aged 25 to 34 in particular were planning to buy their first home. Our advice is to go ahead with those plans because life must go on.
Calculate your budget
To avoid any nasty surprises, the starting point when buying a new home is knowing exactly what your budget is and what price range you’re looking in.
To do this, you need to focus on two main parameters: the savings you have and the loan you’ll be able to access (take into account your salary and income, whether you're buying alone or with another person, your overall economic circumstances in the medium to long term, etc.).
Once you’ve established your overall economic circumstances and the amount of money you have, it’s time to decide on your maximum budget for your new home. Without this information, you’ll be at risk of buying something below your budget that isn’t what you really wanted or you’ll fall in love with something you can’t afford and get frustrated, or, worse still, embark on something that’ll bring you more problems than anything else.
The perfect property for your needs
One of the most common mistakes people make when looking for a new home is failing to clearly identify (or even analyse) their present or future needs. They like a house and buy it, but before long they find they need another bedroom or they get a job in another area.
Before starting to look for a property, we recommend that you make a list of what you really need in a home over the long term. The most important factors are usually:
- Spaces – rooms – bedrooms
- Common areas
- Handover date
- Public transport links
- Services (hospitals, schools, etc.)
- Natural light
- Energy efficiency
To make sure you leave nothing to chance, you can create an Excel or use a notebook and answer each of these questions. Add aspects that are important to you so that you can be certain you've got everything covered when you choose your potential home.
Initial property search
The internet has done a great deal to make searching for a new property easier – now you can conduct an initial search from your living room, sofa, bed or workplace and easily select properties that are of interest to you.
These days, most property developments for sale have a website and social media profiles where you can find out more about the progress of the development and even go on a virtual visit simulating the interior of the show flat in the case of ASG Homes.
These options are excellent at a time when mobility has been greatly reduced and it’s safer to filter the options from your computer or mobile phone before visiting properties in person.
Safe property visit
Following on from the previous point, you’ll need to be particularly careful when you visit a show flat or new-build showroom.
At ASG Homes, we’ve introduced a safety and hygiene protocol to protect all our teams and visitors so we can guarantee you a perfectly safe visit.
The most important thing to do to avoid risky situations such as waiting in queues outside is to request an appointment at the development you’re interested in. Our specialist sales team will be ready and waiting – the space will be disinfected, only one visit will take place at a time and all the promotional material you need will be prepared in advance.
Now you can start to prepare to buy your next home. Put your plans into action and seize the opportunity to embark on a new life