Frequently Asked Questions
The average properties sought after are apartments in the Valencian Community which costs between 105,000 and 120,000 euros and have 80 m². In the province of Valencia, potential buyers seek a larger surface area of 90 m². Meanwhile, in Castellón and Alicante, the price ranges between 90,000 and 105,000 euros and the space required is 70 m². This average could reach the amounts up to 300.000 – 700.000 euros, depending the area and square meters searched
These prices can clearly decrease if the property is held by a bank or is available at public auction. If the property needs a complete overhaul, it will also greatly reduces the initial price.
According to experts, demand depends heavily on the area and is for properties with 3 or 4 bedrooms.
The condition of the property will be decisive, since the greater the need to renovate, the lower the selling price. The price of the property could range from 60,000 to 100.000 euros for an area of 60-80m2.
One of the questions that is usually asked when investing in a property is, ‘Should the property already be renovated or be in need of renovation?’ Many of the best investments are made by purchasing a property to renovate, as its price is clearly lower than that of one already renovated. If the property is intended as a home, then renovation is always a good way to decorate and adapt it to your liking.
The price of a renovation is not usually high (provided kept to a standard level of finishes), when compared to the advantages this give you. We analyze the space available and all materials chosen, from the beginning, together with you and the Engineer, to leave you with a home that meets 100% of your expectations and at a very attractive price.
For your convenience, we will develop a programme that specifies step by step the different phases in which the renovation project will be implemented. The renovation can be very smooth, as long as you employ a person (Project Manager) that can deal with any issues, the different phases and details, whilst keeping you informed so that ‘you are always in control’ as we develop any solutions.
One of the phases is called the pre-work stage, whereby the owner and engineer work together to establish what will be the technical needs, property layout and material needs of the renovation.
In this phase the engineer will draw the current plans of the property and then create the new floor plan according to what the owner and the engineer agree.
The Project Manager is responsible for explaining and organizing the work to the builder, according to the renovation plans drawn up between the owner and the engineer. They will also be responsible for obtaining all work permits from the town hall and/or any government agencies that are required.
All the legal processing of licences and permits granted by public bodies such as the town hall, departments, etc. are the responsibility of the Engineer. This also includes the payment of fees to the town hall with regards to all works and which by law, must be paid by the owner.
Any representations needed at the town hall will be handled by the engineer, for greater ease in resolving any technical or administrative issues which tend to accompany renovation works of this type. So that you, the owner, can relax knowing problems are being resolved and you are being kept informed without the need to be involved.
The whole construction process is totally controlled by the client through a supervised contract drawn-up by bilingual professionals with experience in national and foreign labour markets. This means that through lawyers with experience in this sector, the client is aware at all times of the process and payment schedule, thus safely controlling the rights and obligations of the parties involved in the renovation process.
Typically and logically, costs depend largely on the size of the project when compared to the overall area of the property. Also it’s logical to think that the costs of the project management also depend on the size of the project. As well, there are indirect costs dependant on the final budget chosen.
The total budget will also ultimately depend on the type of materials and their quality, however the final cost can be divided into two types: fixed and indirect costs and variable and direct costs, here are the details:
The fixed and indirect costs are those related to municipal licences and their rates. These municipal licences and permits are required and usually cost:
• ICIO Rate: 4% of the total value of the work not including taxes.
• Fixed rate for small construction projects, normally it is around 135.43 €.
Both rates are obligatory and required for the granting of licences. They must be paid or you cannot start any work.
• Container costs for debris: 0.30 € per m2 per container per day.
This fee is paid for the presence of a container for the removal of debris on the public highway, and is usually paid for on a daily rate.
The variable and direct costs of the project are:
If we have greater purchasing power and we want to carry out a mid-high-level reform, we would be talking about 1.000€* + 21% taxes per square meter (and even more). In this case we are already talking about reforms with high quality materials.
In any case, it is important to have in mind which is the main idea to be built by having a masterplan done and having an analysis about what do we need and which quality materials are we using. All these prices will always depend on the final master plan layout, kitchen finish, floor tiles quality…etc.
(*)Kitchen appliances, and Management cost, not include in the price per square meter.
-
The costs for project management will vary according to the size of the reform/renovation. These costs usually include monitoring the work from start to finish. The obtaining of building licences and permits from town hall. It also includes preparation prior to the start of the project, financial review of the project, the drawing of plans and layout for the new space, plans of the original layout, the choosing of the quality and quantity of materials, and especially providing regular updates and progress reports to the owner/developer via the method of communication chosen so owners do not have to be there.
It is the responsibility of the Engineer/Architect to determine the extent of any damages, who provides the guarantee and/or will take responsibility for them once the work is finished and prior to any legal action. It is very important for the owner/developer to know that on completion and payment for the project they are backed by a post-project guarantee.
It is very important that the developer/owner of the property, knows that at all times and once the entire payment of the work has been made, that it will be backed by the guarantee of the post-sale work. The regulation de la Ley de Ordenación de la Edificación del 38/1999 del 5 de Noviembre, which states:
La Ley 38/1999, de 5 de noviembre, de Ordenación de la Edificación. (applicable to new constructions of new floors or that makes a substantial modification to the building or makes structural reforms to the building) as shown in Chapter 4 Article 19, the following steps, during which the agents who participate in the constructions of the building must be responsible for possible defects:
-
Ten years for the repair of damaged materials caused by quality or construction defects which affect foundations, pillars, beams, architecture, load-bearing walls or other structural elements which compromise directly the mechanical resistance and stability of the building. An architectural or engineers report is essential.
-
Three years for the repair of damages caused by components, parts or facilities that cause the failure to fulfil the requirements of occupation of said construction. This includes sanitation , damp and facilities where there has always been a correctly normal use and maintenance of the building.
-
One year for the repair of damaged materials that affect the finishing or completion of the building such as lining, cladding, facing, covering, coating, overlay, sheathing, flooring etc. In other words all those aesthetic defects that can be seen by the eye where there has always been a correctly normal use and maintenance of the building.
The guarantee in the case of the use of new materials will be of 2 years. The law does not establish a guarantee period for the work, so this will depend on the builder. Having said that, it is necessary to take into account that, in order to apply the law it is essential to have an invoice, since without an invoice, there is no guarantee.
-
Meeting with the owner/developer
-
View the property, develop plans, proposals, layout, materials, lifestyles, needs, budgets
-
Agree final budget, sign a bilingual contract with the constructor, apply for licences and work permits.
-
Start the works.
-
Deal with any indirect technical incidents (collateral damages to the neighbours, community owners, technical requirements of the town hall).
-
Monitor the work, with the estimate time of completion will depend on the size of the project with the average time for a property of 70 – 90m2 being approximately 3 months
-
Complete the work.
-
Furnish the property*
-
Hand over the key to the owner/developer.
(*) This service is optional
The average properties sought after are apartments in the Valencian Community which costs between 105,000 and 120,000 euros and have 80 m². In the province of Valencia, potential buyers seek a larger surface area of 90 m². Meanwhile, in Castellón and Alicante, the price ranges between 90,000 and 105,000 euros and the space required is 70 m². This average could reach the amounts up to 300.000 – 700.000 euros, depending the area and square meters searched
These prices can clearly decrease if the property is held by a bank or is available at public auction. If the property needs a complete overhaul, it will also greatly reduces the initial price.
According to experts, demand depends heavily on the area and is for properties with 3 or 4 bedrooms.
The condition of the property will be decisive, since the greater the need to renovate, the lower the selling price. The price of the property could range from 60,000 to 100.000 euros for an area of 60 – 80m2.
One of the questions that is usually asked when investing in a property is, ‘Should the property already be renovated or be in need of renovation?’ Many of the best investments are made by purchasing a property to renovate, as its price is clearly lower than that of one already renovated. If the property is intended as a home, then renovation is always a good way to decorate and adapt it to your liking.
The price of a renovation is not usually high (provided kept to a standard level of finishes), when compared to the advantages this give you. We analyze the space available and all materials chosen, from the beginning, together with you and the Engineer, to leave you with a home that meets 100% of your expectations and at a very attractive price.
For your convenience, we will develop a programme that specifies step by step the different phases in which the renovation project will be implemented. The renovation can be very smooth, as long as you employ a person (Project Manager) that can deal with any issues, the different phases and details, whilst keeping you informed so that ‘you are always in control’ as we develop any solutions.
One of the phases is called the pre-work stage, whereby the owner and engineer work together to establish what will be the technical needs, property layout and material needs of the renovation.
In this phase the engineer will draw the current plans of the property and then create the new floor plan according to what the owner and the engineer agree.
The Project Manager is responsible for explaining and organizing the work to the builder, according to the renovation plans drawn up between the owner and the engineer. They will also be responsible for obtaining all work permits from the town hall and/or any government agencies that are required.
All the legal processing of licences and permits granted by public bodies such as the town hall, departments, etc. are the responsibility of the Engineer. This also includes the payment of fees to the town hall with regards to all works and which by law, must be paid by the owner.
Any representations needed at the town hall will be handled by the engineer, for greater ease in resolving any technical or administrative issues which tend to accompany renovation works of this type. So that you, the owner, can relax knowing problems are being resolved and you are being kept informed without the need to be involved.
The whole construction process is totally controlled by the client through a supervised contract drawn-up by bilingual professionals with experience in national and foreign labour markets. This means that through lawyers with experience in this sector, the client is aware at all times of the process and payment schedule, thus safely controlling the rights and obligations of the parties involved in the renovation process.
Typically and logically, costs depend largely on the size of the project when compared to the overall area of the property. Also it’s logical to think that the costs of the project management also depend on the size of the project. As well, there are indirect costs dependant on the final budget chosen.
The total budget will also ultimately depend on the type of materials and their quality, however the final cost can be divided into two types: fixed and indirect costs and variable and direct costs, here are the details:
The fixed and indirect costs are those related to municipal licences and their rates. These municipal licences and permits are required and usually cost:
• ICIO Rate: 4% of the total value of the work not including taxes.
• Fixed rate for small construction projects, normally it is around 135.43 €.
Both rates are obligatory and required for the granting of licences. They must be paid or you cannot start any work.
• Container costs for debris: 0.30 € per m2 per container per day.
This fee is paid for the presence of a container for the removal of debris on the public highway, and is usually paid for on a daily rate.
The variable and direct costs of the project are:
If we have greater purchasing power and we want to carry out a mid-high-level reform, we would be talking about 1.000€* + 21% taxes per square meter (and even more). In this case we are already talking about reforms with high quality materials.
In any case, it is important to have in mind which is the main idea to be built by having a masterplan done and having an analysis about what do we need and which quality materials are we using. All these prices will always depend on the final master plan layout, kitchen finish, floor tiles quality…etc.
(*)Kitchen appliances, and Management cost, not include in the price per square meter.
The costs for project management will vary according to the size of the reform/renovation. These costs usually include monitoring the work from start to finish. The obtaining of building licences and permits from town hall. It also includes preparation prior to the start of the project, financial review of the project, the drawing of plans and layout for the new space, plans of the original layout, the choosing of the quality and quantity of materials, and especially providing regular updates and progress reports to the owner/developer via the method of communication chosen so owners do not have to be there.
It is the responsibility of the Engineer/Architect to determine the extent of any damages, who provides the guarantee and/or will take responsibility for them once the work is finished and prior to any legal action. It is very important for the owner/developer to know that on completion and payment for the project they are backed by a post-project guarantee.
It is very important that the developer/owner of the property, knows that at all times and once the entire payment of the work has been made, that it will be backed by the guarantee of the post-sale work. The regulation de la Ley de Ordenación de la Edificación del 38/1999 del 5 de Noviembre, which states:
La Ley 38/1999, de 5 de noviembre, de Ordenación de la Edificación. (applicable to new constructions of new floors or that makes a substantial modification to the building or makes structural reforms to the building) as shown in Chapter 4 Article 19, the following steps, during which the agents who participate in the constructions of the building must be responsible for possible defects:
-
Ten years for the repair of damaged materials caused by quality or construction defects which affect foundations, pillars, beams, architecture, load-bearing walls or other structural elements which compromise directly the mechanical resistance and stability of the building. An architectural or engineers report is essential.
-
Three years for the repair of damages caused by components, parts or facilities that cause the failure to fulfil the requirements of occupation of said construction. This includes sanitation , damp and facilities where there has always been a correctly normal use and maintenance of the building.
-
One year for the repair of damaged materials that affect the finishing or completion of the building such as lining, cladding, facing, covering, coating, overlay, sheathing, flooring etc. In other words all those aesthetic defects that can be seen by the eye where there has always been a correctly normal use and maintenance of the building.
The guarantee in the case of the use of new materials will be of 2 years. The law does not establish a guarantee period for the work, so this will depend on the builder. Having said that, it is necessary to take into account that, in order to apply the law it is essential to have an invoice, since without an invoice, there is no guarantee.
-
Meeting with the owner/developer
-
View the property, develop plans, proposals, layout, materials, lifestyles, needs, budgets
-
Agree final budget, sign a bilingual contract with the constructor, apply for licences and work permits.
-
Start the works.
-
Deal with any indirect technical incidents (collateral damages to the neighbours, community owners, technical requirements of the town hall).
-
Monitor the work, with the estimate time of completion will depend on the size of the project with the average time for a property of 70 – 90m2 being approximately 3 months
-
Complete the work.
-
Furnish the property*
-
Hand over the key to the owner/developer.
(*) This service is optional