Spanish property market

There is a school of thought that believes property market reports should be taken with a pinch of salt. Firstly as they are rather general in content and usually present averages for an entire country or a region rather than a specific municipality or neighbourhood. When you buy a property or buy into a certain area it’s the micro socio-economic data that you are really concerned with. If you are speculating you are doing so in a specific neighbourhood rather than a region. Of course it’s interesting to have this information to hand but care needs to be taken when applying it to your search for property and understanding its current and future market value.

How one accesses this micro data is usually through a more hands-on method. Being in contact with good estates agents, understanding the nature of the area you are buying in, assessing prior to purchase the actual state of the property you are about to buy and what work needs to be carried out to achieve your goal. This is the only true exercise which informs you as to whether your investment may work.

But what happens when it is your home that you plan on keeping for at least 10 years? Should you really be concerned with spending just the right amount so it does not exceed the resale value that these generic reports might suggest (very few actually suggest anything of the kind)?

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Personally I feel that if you get the design right and make this home yours, what results is a property that stands apart from the rest of the property market. The design gets the right balance between, the neighbourhood you have bought into, natural daylight and ventilation, comfort, storage, sense of place, how the refurbished building matches your needs. Many people are afraid to create a bespoke property and for this reason fall into creating a space that is so generic it just looks the same as so many other properties for sale on the market and has no distinguishing character to set it apart. In times of a depressed market this distinction can determine whether you sell your property or not.

Another reason for a healthy disregard towards market trends and create your own space is that in essence we are not that different from each other and when you are selling you only need one buyer. If you are consistent at the time of developing your design ideas and implementing them the result will speak for itself and a future purchaser will experience this no matter what state the market is in. Making sure you sell your home using a good estate agent that values the true nature of your home is key.

Ensuring that you control the costs as much as you can when refurbishing or building your home should always be a priority – just as understanding the value that you place on the quality of the space and what materials you use to achieve that quality. What value do you place on a home designed with and for you?

Photo credit: Paul Craig – Designer Liam Phelan.