Buy an apartment in Barcelona instead of traveling 100 times
What are the main reasons to buy a house? Buying a house is always one of the most important decisions in life. Faced with this difficult decision, we often ask ourselves many questions about the reasons that drive us to buy a certain house. Do I want it to rent or as an investment? Do I need a house as a regular home? Looking for a second residence?
According to market data, 78% of individuals looking to buy a house, intend to use it as their first residence or habitual residence. 12% are looking for a second residence and 8% more are looking for a home as an investment.
These data vary depending on the age of the buyer: the youngest tend to look for houses as usual housing, while from the age of 45 they also begin to gain importance the use of second residence or investment. By regions, the Basque Country, Catalonia and Madrid present the highest percentages of home buying as a habitual residence, while in the Valencian Community there is a greater demand for real estate as a second residence.
These are the 3 main reasons for buying a home, highlighting those looking for a house to live as say the company bcn luxury apartments barcelona
Habitual housing: Buy to live
Approximately 84% of the Spanish population owns at least one home. Of these, the vast majority, 78%, allocate housing as a habitual residence.
Arguments used to buy a regular home are the following:
Improve current housing.
A home is insurance for the future and a good long-term investment.
The market is now good to buy a house.
Renting is a way of “throwing away” money. Buying a house allows heritage.
The family has grown or I plan to grow soon.
I want to become independent and / or live with my partner.
Workplace change.
buy habitual housing
The vast majority of buyers allocate the house as usual housing.
When someone decides to buy a house as a habitual residence, the decision process is usually more thorough, considering a series of needs that the house must cover, such as its surface, the number of bedrooms, its distribution, the brightness, the state of conservation, its location and of course, the price.
One of the main factors that help many buyers in the decision is the possibility of deductions in the declaration of income for the acquisition of habitual housing. As a general rule, the deduction for the acquisition of habitual housing allows the deduction of 15% of the money contributed in the fiscal year, always on a maximum basis of 9,040 euros. Therefore, these deductions can reach a maximum of 1,356 euros.
In addition, the improvement in access to mortgage credit by buyers, the increase in legal certainty thanks to the new mortgage law and a stable evolution of prices favors the intention to purchase the usual home.
Investments: Buy for rent or as a long-term investment
In general, the buyer’s perception is that buying a house is a good investment, in a country where up to 84% of the population owns.
We have seen that 22% of buyers look for a home as an investment or second residence. Of this segment of buyers, 51% of them plan to put the house for rent.
Logically, homebuyers as an investment product are the most supportive of rent. 85% of them intend to rent. Among buyers of second homes, 29% of them consider renting it during the period they do not use it.
In this sense, it should be remembered that each Autonomous Community has its regulations to be able to rent a holiday home, and it is advisable to advise on a real estate company registered as Tourist Housing Management Companies, so as not to face possible penalties.
In addition to the potential of a home in the rental market, up to 39% of homeowners consider buying a house a long-term investment.
Currently, housing has become a good investment, with a gross return of around 8%, according to data from the Bank of Spain, mainly thanks to the aforementioned rental market, but also due to the revaluation of housing.
Second residences: buy to enjoy vacations and free time as say Barcelona apartments. 12% of buyers are looking for a second residence. A fact that is not negligible, and according to experts, the second residence will become one of the segments that will continue to experience higher increases.
This behavior is especially noticeable in coastal and beach areas, such as the Costa Blanca and Altea, with a wide range of apartments and villas in exclusive areas very close to the beach.
Buyers of this type of second home look for 71% to buy the house to enjoy it on vacation, with no intention of renting it. And the remaining, 29%, plans to rent it for as long as they don’t use it to get