Five things to consider when purchasing your next home on the Costa del Sol.
When looking for a new home or luxury property on the Costa del Sol, it seems like there are an endless amount of things to consider. Location, size, number of rooms, layout-all of these options can create a lot of questions when purchasing a home. But one of the most important decisions is whether to buy an apartment or villa on the Costa del Sol. To make it easier, this list will give you 5 things to think about when you’re deciding between an apartment or villa on the Costa del Sol.
Common spaces vs. privacy
Obviously, a villa comes with an implication of greater privacy than an apartment. You own the land on which it sits and can retreat to the privacy of your villa at the end of the day. An apartment, while less private, many times features common areas that can add value to your living experience. Pools, common landscaped or green spaces, BBQ areas, fitness centers, and sometimes even restaurants and on-site spas can make coming home feel like staying in a luxury resort every day.
Living in an apartment can present challenges if you desire privacy. Depending on the level of soundproofing, it may be possible to hear the activities of your neighbours and vice versa. You’ll likely be aware of the comings and goings of those around you and likewise, they’ll probably know your schedule.
Choosing the privacy of a villa can give you a quiet respite. But the common spaces offered with an apartment can create a greater sense of community amongst your neighbours and increase your opportunities for entertainment. Depending on your situation, your desire for common spaces or privacy will be a determining factor in choosing your next home or luxury property.
Flexibility
Apartments and villas offer varying levels of flexibility.
If you travel often, an apartment would support that lifestyle as there is no outdoor maintenance to worry about when you’re out of town. On-site security is often a feature of an apartment building, so you can rest easy while you’re away, knowing that your home is being looked after.
A villa requires constant maintenance, so if you are a frequent traveller, you may come home to a number of chores. If you hire those chores out, you’re still responsible for scheduling and payment. On the other hand, a villa allows you to come and go and be inside the home with no fear of disturbing neighbours. Or being disturbed by them. There is also the increased flexibility to customize, which we’ll discuss next.
Ability to customize
Owning a villa gives you lots of opportunities to customize if that’s what you’re looking for. Once a villa is in your name, you are able to change the landscaping, add or tear down outbuildings, modify the exterior appearance, and redecorate or even renovate the interior.
Owning an apartment leaves you at the mercy of the designer when it comes to exterior and common area appearance. You can definitely customize the interior through redecoration, but any renovations would require permission on the part of apartment policies and management.
Ongoing costs and maintenance
Villas come with lots of ongoing maintenance needs. From fixing a broken window to maintaining a garden and outbuildings, it can sometimes seem like a never-ending project. These costs can be balanced with the benefits of home ownership such as privacy and freedom to customize. But keep in mind that all maintenance will fall on your shoulders. And whether you complete the work yourself or hire someone to do it, all of the cost is yours.
Apartments, on the other hand, require less exterior maintenance as a result of the common spaces, but you will likely pay community fees that contribute to the maintenance costs. These fees will be ongoing and possibly subject to change over the years.
Resale value
Conducting some research to determine the future of the market and the potential resale value of your property is always a good idea when purchasing any home. An apartment or villa in a well-established or up-and-coming area will likely fetch a higher resale price in the future.
The Costa del Sol is a highly sought after area for both villas and apartments, so determining a future resale value would depend on a number of other factors such as the age and style of the home or apartment. A timeless style would likely have a higher resale value than something that is trendy or of the moment.
Purchasing a villa gives you a lot of control over the condition of your home in the future as well as keeping the style timeless or current. Owning an apartment means that the style and upkeep are up to the owners of the complex or building which could affect the resale value.
No matter what you’re looking for, the Costa del Sol has amazing luxury properties to fit any taste or style. From Contemporary Luxury Apartments with Unobstructed Sea Views for Sale in Cancelada to the Panoramic Sea Views At This Stunning and Prestigious Villa For Sale In La Zagaleta, Costa Del Sol, the perfect luxury property is waiting for you on the Costa del Sol.
