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Spain: Renovation & Restoration

Cost

All building work such as electrical work, masonry and plumbing is priced by the square metre (m2) or metre. The cost of restoration depends on the type of work involved, the quality of materials used and the region. As a rough guide you should expect the cost of totally renovating an old ‘habitable’ building to be at least equal to its purchase price and possibly much more. Some estimates calculate the cost of restoring or rebuilding a large finca to be in the region of €450,000 to €1.5 million! How much you spend on restoring a property depends on your purpose and the depth of your pockets. If you’re restoring a property as an investment, it’s easy to spend more than you could ever hope to recoup when you sell it. Always keep an eye on your budget (it’s very easy to overspend) and don’t be in too much of a hurry. Some people take many years to restore a holiday home, particularly when they’re doing most of the work themselves. It isn’t unusual for buyers to embark on a grandiose renovation scheme, only to run out of money before it’s completed and be forced to sell at a huge loss.

© Survival Books Limited 2005

“Buying a Home in Spain 2006” 5th Edition, David Hampshire.

Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying a Home in Spain 2006” 5th edition, by David Hampshire.

For extensive, annually updated information about buying a property in Spain, you can purchase this book at www.survivalbooks.net


More pages

Page 1: Overview
Page 2: Spanish or Foreign Builders?
Page 3: Cost

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