It is one of the most common moves on the current market in Torrevieja and the Costa Blanca.: owners selling their usual home—the apartment in the center, the bungalow from twenty years ago—to make the leap to a new construction with a pool, garage and energy efficiency. The play is good; the risk is in the deadlines. Here you have the complete map for sell to buy new construction no scares.
The new construction calendar works in your favor (if you use it)
Unlike buying second-hand —where two or three months pass between the deposit and the writing—, new construction is purchased in phases: reserva, private contract with deferred payments during construction, and writing upon delivery, normally between 12 y 24 months later. That long window is your great advantage: gives you time to sell your current home well, without underselling it in a hurry. The correct strategy is almost always: reserve the new construction first and put your house on the market immediately afterwards.
The three ways to finance the jump
1. Sell before delivery (the ideal). You sell during construction, you live on rent for a few months if necessary or you agree with your buyer on a comfortable delivery date, and you arrive at the writing of the new work with the money in your hand.
2. Bridge mortgage. The bank bundles your current and new mortgage while you sell, with a deadline (usually up to 5 years) to complete the sale. Gives peace of mind, but it requires solvency and makes the process more expensive.
3. Mortgage the new one and sell later. Possible, but it exposes you to paying for two homes at the same time: It is the recommended option only with the sale already very advanced.
The taxation that you should have on your radar
When selling your primary home and reinvesting in another primary home, you can apply the exemption for reinvestment in personal income tax about the profit (with a period of two years, that fits well with the times of new construction). If you have more than 65 years and you sell your habitual residence, the gain is exempt without the need to reinvest.
The purchase of new construction pays IVA (10%) + AJD, while your second-hand buyer will pay ITP: They are different costs that should be calculated from day one. And don't forget the municipal surplus value of your sale: It is calculated on your current property and paid to the city council.
The mistakes we see repeated
Sign the reservation without having valued the current home. If you don't know what you're going to get, You don't know what new work you can afford.
Set price “with room to negotiate” and lose the months of construction with the house burning in the portals.
Failure to coordinate delivery dates: agree to leave your current house without a mattress in the face of delays from the developer (there are, almost always).
Go with two separate procedures: an agency to sell and on the other hand the promoter, without anyone to fit the whole.
How we do it at Mayrasa
We are the piece that balances both clocks: We value your current home with real sales in your area, We sell it at the pace required by your delivery schedule - with national and international buyers in the portfolio - and we advise you on choosing the promotion: here you can see the new construction available in Torrevieja and Costa Blanca with whom we work. A single interlocutor for Sell your home and release the new one without deadline scares.
Are you thinking about making the jump to new construction?? Tell us your case and we will put together the complete calendar for you., free.
