How to get the best price when buying a house in Malaga
How to get the best price when buying a house in Malaga. 4 tips for buying at a good price in Malaga
According to the latest Fotocasa study, new construction home prices have skyrocketed in Malaga while second-hand homes have risen much less, although they continue to have an upward trend.
Despite the crisis generated by the pandemic, housing prices, far from falling, have resisted strongly and have begun to rise across the board throughout Malaga.
The most sought-after product continues to be new construction. But its high prices and low supply continue to make it impossible for the majority of Malaga residents' pockets. Teatinos, Cártama, Campanillas and the Costa del Sol continue to be the main centers where the most new construction homes are built and sold.
In the central area, the lack of land and the very high prices mean that the supply of new construction is as scarce as it is expensive.
Second-hand housing prices in Malaga rise but slower
The second-hand market continues to account for more than 80% of the city's real estate market. In most neighborhoods of the capital there are no new construction homes or they have unaffordable prices, which is why many opt for second-hand purchases.
The prices of second-hand homes have also experienced a significant rise in the last year, driven by increased sales and low mortgage interest rates.
Although the supply of homes for sale in Malaga does not stop growing, demand has also grown motivated by two factors: cheap mortgages and expensive rents.
Malaga has become one of the capitals where rental prices have experienced the greatest increase, making many opt to buy. Furthermore, mortgages are currently around 1%, making it more attractive to own your own home than to rent and be at the expense of the high rental market.
All of this together increases the price of second-hand housing, although much slower and more stable than the price of new construction housing.
Despite this, some clients continue looking to buy at a good price or a little below the market price, and they search insistently on portals and real estate agencies in search of an opportunity.
We give you 4 tips to buy at a good price in Malaga
Filter the best homes
It is essential that you are up to date with everything that is for sale and everything that goes on sale. Only in this way will you be able to buy at a good price.
You must filter through all the homes and make a short list of the most interesting ones, by price, area, conditions and characteristics.
It is a good option that you are in contact with the real estate agencies so that they keep you informed and filter the homes for you, that way you will only focus your attention on interesting homes.
Visit all the homes you have selected
You should not be guided by the photos and descriptions in the ads. You have to visit all the homes that have interested you and gather all the necessary information about each one to then make the best decision. You will have to find out community fee, possible spills, condition of pipes and electricity, condition of the building and the community, ease of parking, luminosity and many other things.
When you have visited all the homes you must filter again and discard those that do not meet your conditions and select only those that meet all or most of them.
make offers
Once you have reduced the list to only 3 or 4 homes, you should negotiate the price as much as possible in order to get the best price. You will never know the lowest price if you do not make an offer.
When you are clear about the minimum price at which you can buy the homes, you must decide the one that best suits you and close the agreement.
Put everything in writing in a deposit contract
You will not be finished until you have the property reserved by signing the deposit contract. Prepare the contract or hire the services of a professional to do so.
Agree on all the clauses and conditions of the contract with the seller, and once you reach an agreement, you will only have to sign it and prepare the necessary documentation for the purchase.
When signing the contract, you must provide an amount of money as a deposit to ensure that the owner will respect the agreement and will not look for another buyer.
Do you need to sell a home? Visit our page Sell with Valoracasa or contact the 695033558 o al Cruzhumilladero@valoracasa.es
Photo house reference Construction works have increased by 43% since January in Spain
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