Buying off plan - or at some point during the construction process - is a popular option in Spain as the earlier you buy in, the less expensive your total purchase price will be. Or in other words, by the time of completion your home will be worth substantially more.

However, while many homeowners are satisfied with the final outcome, you should be aware that there is always the risk the developer will run into hard times and the building will not be completed. Ideally make your purchase with a constructor with a healthy track record.

However to cover this risk, builders are required to take out a special bank guarantee that will compensate investors should things go wrong. Before investing in any not-yet-completed project, check on this guarantee and consult with representatives of the bank that is standing behind it.