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Tips

To ensure a safe decision

when buying a property:

1st - Find your true motivation

Before starting the purchase decision process, aim to understand the purpose behind it, as that will help guide your decision.

Reflecting and knowing how to respond to this motivation is crucial, as the purchase of a home is usually associated with an investment that you wish to make or a need at a stage in life, such as: marriage; leaving your parents’ house; children; divorce; change of job; or lifestyle change, among others.

2nd - Decide what type of property do you want

Once you have found your reason to purchase, it is then time to decide what you are going to buy.

If it is going to be your place of residence, it is advisable to list your needs and wishes. List 2 to 3 needs which must be at the forefront of your decision and reflect on your main desires. From that moment on, you will already have a vision of what the house you are looking for.

3rd - Investment and Financing

We all have a limit on our purchasing power, so it is important to assess whether you will need financing. Calculate the expenses related to the purchase of a house: IMT – Municipal Property Transfer Tax; I.S. – Stamp Tax; Property Deed, Registration, and IMI – Municipal Property Tax (paid annually).

If you choose to take a bank loan, the credit conditions will be very important: the spread (the margin which the bank adds to the Euribor interest rate); the interest rate (variable or fixed) and, above all, assess whether the proposed repayments for the purchase are satisfactory and comfortable in relation to your family budget.

Why buy a house under construction?

Main advantages

Buying a property under construction allows the buyer to reduce the acquisition price and spread the payment out throughout the period between the purchase date and the completion of the construction and the consequent property deed.

Buying a property during its construction phase usually has a financial advantage in relation to the acquisition of a new apartment ready to move into. This advantage generally becomes effective from the date of the property deed.

Being among the first buyers, offers a greater choice among the available offer, allowing you to achieve a better match with what you are really looking for.

Possibility of personalising some of the interior finishings of the property. At Nexity, purchasing during the construction phase provides for a certain level of personalisation of the apartments regarding their interior finishings.

4 stages of the purchase process

Step by step

Reservation Agreement

Formalization of interest in purchasing through the temporary deposit of a certain amount. This confers the right to reserve the property, thereby withdrawing it from the market for a period of time.

Promissory Contract of Purchase and Sale (CPCV)

Formalization of purchase of the property, by paying a down payment and regulating the rights and obligations between the parties involved (buyer and seller).

Reinforcing the down payment

Payments made between the signing of the CPCV and the execution of the public deed of purchase and sale (EPCV), corresponding to a percentage of the purchase price of the property and which are scheduled and stipulated in the CPCV.

Deed of purchase and sale

  • This takes place at the moment the construction of the property is finished, and it is licensed.
  • The amount that remains to be settled at that time is paid and the committed buyer becomes the legitimate owner of the property, giving him/her the right to occupy, rent or sell it.
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