British newspaper, The Daily Telegraph has recently recommended that buyers maximise investment in the sunnier spots of Europe’s property market by purchasing a home in need of renovation. Indeed, the British appear to have renovation fever if the popularity of the C4 series Restoration Man, presented by architect George Clark is any indication. It would appear they’re not the only nation inspired to renovate.
The renovation and restoration trend has caught on in Sotogrande and other areas of the Costa del Sol, with a surge of interest in mature properties that simply need a touch of flair and TLC to roll back the years playing a role in reviving the market.
Why not simply buy a new property, one might ask? Well, there are a number of very good reasons to take the renovation route. First, older properties tend to be in some of the best locations. They were, after all, the trailblazers in the area and so had access to the best plots—and much bigger plots than are currently available for new builds—with a better choice of impressive views.
Second, these older properties in need of refurbishment typically cost less to buy. Yes, you do need to factor in the cost of renovation work, but when you consider that the end result is a modernised home in a stunning location with a big appeal for future buyers, then you’ll realise it’s a great investment.
With the help of a good architect there’s every possibility that a renovated property can be almost the same as buying a new build. If you take a look at the work of some local architects with renovation experience, you’ll notice that even a property from the 1970s can look as though it was built this year. Something as simple as remodelling the entrance porch to a modern style and updating all the interiors using a contemporary colour palette has that effect.
Also, if you’re an architecture and interior design fan then buying an older property for renovation gives you the perfect opportunity to stamp your choice of style on it. You can choose to be contemporary or retro-modern, or you can stick with a rustic style. It’s a good time to invest your money in your dream with a chance of an excellent return.
Holmes has several properties in Sotogrande that are perfect for renovation and selling at favourable prices. We can also recommend local architects working in a range of styles. Do drop in to see what we have on offer!
By Jackie Cruz - Manifesto ·