As with any other property it is important when looking for off plan property to take into consideration for what reasons you wish to purchase the property. This is especially important if you are looking to buy in the early stages of the development as you will not be able to see the property until a long time after you have signed the purchase contract.
In this section we will go through the most important issues to take into consideration depending on your reasons for buying a property in a new development. For further advice about buying off plan property in Spain please see Off Plan Property Advice.

To better be able to explain the most important things to take into consideration as a buyer of a property in new development we have divided the type of buyers in four categories.

Investors - People that are looking to buy a property to sell it again with a profit.
Buy to Rent - People that are looking to buy a property to rent it out.
Buy to Settle Down - People that are looking for a property to settle down in.
Buy a Holiday Home - People that are looking for a holiday home.

It is of course possible that the purpose for buying the property is a mixture between the above but to better be able to explain the most important differences we have divided the buyers in four groups.

Investors
As an investor there are two important things to take into consideration to make sure that you get the highest return as possible in an off plan investment.
As explained in the previous section the prices of properties in a new development will increase during the construction period and are initially set below market value to attract early buyers. It is therefore important to buy as early as possible after the launch to the market of a new promotion but this is not the only factor to be aware of.

Apart from focusing on the initial price it is also very important to take into consideration who is going to buy the property and what they are looking for. Although you might be able to buy a cheap property if you are not able to sell it again before the completion of the development a big part of your possible profit might be lost.
People buying resale properties are normally private people looking for a holiday home or a place to settle down and as an investor you will need to take their preferences into consideration. Some investors wrongly think that the cheaper the development is the more money they will earn. As most potential buyers of re-sale property are looking for a good quality property and with certain characteristics the investor will have to take this into consideration before investing in a development.

It can be very profitable to invest in off plan property (see our Guide Section for examples) but there are still many possible pitfalls and professional advice can highly be recommended. For further information see Off Plan Property Investment Advice.

Rental Property
If the main purpose of buying a property is to rent it out as a holiday home and this how get the highest yearly return possible there are a number of things to take into consideration. First of all the price of the property is more important than the quality of the development. Rental properties are damaged much faster than private properties and the qualities do therefore not have to be luxury although there will have to be a good relation between quality of the property and the rental price. As a buyer you therefore do not have to focus as much on the quality of the promotion (i.e. like an investor) and to get the cheapest prices available it can be recommended to buy as early in development as possible.
Another thing to take into consideration is the location and nearby utilities available. People renting a holiday home will like to have services such as supermarket, restaurants and bars nearby and if it is close to a golf course, a town centre or the beach it will also attract clients.
For the highest yearly return a golf course is a good option as golfers play throughout the year and therefore it will be possible to rent out the property for more weeks.

Settle Down in Spain
If you are looking to buy a property to settle down in Spain there are mainly two things to look after.
First of all as the property is going to be used for a private use and assumingly for a longer period the quality and the look of the finished property are very important. Most people that buy a property to live in prefer being able to see how it is going to look like before signing a contract and paying part of the property price. Although there are many plans and descriptions of the property available your idea of how the finished property is going to look like will not always be identical to the reality. Therefore it can be recommended to buy a property in development that is not in the initial phase and where it is possible to see a finished show flat or at least the main structure of the property. Another options in some developments is to purchase a second or later phase of the same development as you this how can see how the first phase has turned out.

Secondly it is important to take into consideration that you will be living there all year around and will therefore need certain utilities nearby like shopping, doctors, schools, work and free-time activities, which are different from what a holiday maker is looking for. You might like the area from previous vacations but to live all year in the area you will most likely be looking for other things.

Holiday Home
Most people that buy a holiday home in a new development have a second intention with the purchase which can be to rent it out while they are not using it, settle down within a few years or as a long time investment.
If the main purpose is to use the property is a personal holiday home the finished property has to be of a minimum desired quality. The quality will of course have an important influence on the price and the buyer therefore has to set some realistic goals depending on the money you are ready to spend. Sometimes you can find the perfect property a little further inland or in another province where the prices are lower.
In any case with this type of purchase it can be recommended to buy a little later in the construction phase although the prices will not be as cheap as on the launch, but this how you are able to see how the finished property is going to look like before deciding upon one.
As the main use of the property is for a holiday home you will have think about the utilities available at the location. On a vacation most people want to relax and have fun and if you have some special free time activities you will like to practise it is a good idea to make sure they near by so you do not have to spend a big part of the vacation in a car.