Buying Off Plan in Gran Canaria
If you’re looking to save a considerable sum on the purchase of your property – and who’s not? – then buying off plan in Gran Canaria is an option that you should seriously be considering.
What is buying off plan?
When developers embark on a new project, they generally seek to sell a certain number of units as quickly as possible, before the project is finished (and in many cases, before it has even started). Off-plan properties are usually priced well below the market value in order to encourage sales, so that the developers can reduce their capital outlay and also minimise their risk.
How long will I have to wait for my property?
Buying off plan in Gran Canaria – just like anywhere else – means that you will have to wait up to two years or maybe more until your property is completed. However, if you’re not in a particular hurry, the cheaper purchase price should more than compensate you for the wait until you can start to enjoy your property or rent it out.
How do I choose my off-plan property?
Like the name suggests, when you are buying off plan in Gran Canaria, you will have to rely on plans, drawings and other specifications in order to evaluate and choose your property, although many developers will have a pilot unit that you can visit to get a better idea of the look and quality of the finished work. One of the biggest advantages of buying off plan is that you get to choose your property at an early stage, before the best units are sold out. Penthouses, corner apartments, and properties that enjoy better views or have larger gardens are among the ones to sell first.
How are payments structured for off-plan property in Gran Canaria?
When you are buying off plan in Gran Canaria, you will usually have to pay for your property by instalments at pre-determined dates, or as specific steps of the project are completed. This means that if you are using a loan to finance your purchase, you can save on interest since you will not have to borrow the full amount from the start, but can increase your loan gradually as payments fall due.
View the variety of off-plan developments brought to you by Dream Home Okey, where you can acquire premium property at incredibly low prices
.jpg "Business property for sale in San Agustín")
