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Frequently asked questions

What are the advantages of buying a newly built home?Buying a newly built home guarantees modern quality, energy efficiency, and greater durability. Additionally, it includes legal warranties and, if you buy off-plan, you can customize finishes according to your preferences.
What costs are involved in buying a new home?When buying a new home, you must add 10% VAT to the base price, as well as notary, registration, and administrative fees. Mortgage costs may also apply if needed. The total usually amounts to an additional 10% to 13%.
When does the mortgage for a new home start?The mortgage becomes active upon signing the deed of sale before a notary, right at the handover of keys. Until then, only advance payments to the developer or cooperative are made according to the agreed schedule.
What guarantees does a newly built home have?New homes are legally covered: 1 year for finishes, 3 years for installation defects, and 10 years for structural failures. These guarantees provide security to the buyer after delivery.
Can I customize a new home under construction?Yes. When buying off-plan, you can choose finishes or upgrades, as long as the project allows it and it does not affect deadlines or structure. At Único Homes, we offer customization options depending on the construction phase.
What is the difference between reserving a home and signing the purchase agreement?Reserving a home blocks its availability for a limited time. Signing the purchase agreement details legal conditions, deadlines, payments, and guarantees, formalizing the commitment of both parties.
How can I know if a real estate developer is reliable?Check that they have experience, are registered, have a building license, bank guarantees, and available documentation. At Único Homes, we work with maximum transparency in every residential development.
What is a housing cooperative?A housing cooperative is a way to buy a home at cost price. Cooperative members promote their own home and delegate management to a specialized company like Único Homes.
What are the benefits of buying a home in a cooperative?The price is lower by eliminating the developer’s profit. Additionally, buyers actively participate in the project’s design and decisions, under the management of a professional team.
Are there risks when buying a home in a cooperative?Yes, as with any real estate project. However, having a specialized management company, bank guarantees, and legal oversight minimizes risks and ensures a safe and transparent process.
Who can join a housing cooperative?Any individual interested in a primary residence. It is not an option for investors, but for those who wish to participate in the development process with a participatory approach.
What role does Único Homes play in a cooperative?Único Homes acts as the delegated manager, leading the entire real estate process: land, permits, construction, financing, and delivery. We bring experience and professionalism to every cooperative project.
When is a housing cooperative legally established?A cooperative is established after the land purchase, through a public deed and official registration. From that point, members are legally integrated as part of the promoting entity.
What is a subsidized housing (VPO)?A subsidized housing unit is a type of home regulated by the government with a limited price and restricted access for individuals with certain income levels. It facilitates access to an affordable primary residence.
What types of subsidized housing exist in Madrid?In the Community of Madrid, the main types are:
  • VPPB: for incomes below 5.5 times the IPREM.
  • VPPL: for incomes between 5.5 and 7.5 times the IPREM.
Both have regulated prices, usage limitations, and specific requirements.
What is the difference between free-market and subsidized housing?Free-market homes can be bought, sold, or rented without restrictions. Subsidized housing has a maximum price, protection periods, and access requirements, but in return, they are usually more affordable.
What requirements are needed to access subsidized housing?You must meet criteria such as: not owning another home, residing in the autonomous community, having income within the limit according to the VPO type, and using the home as your primary residence.
Can a subsidized home be sold before the protection period ends?No, during the protection period (usually 10 or 15 years) it cannot be sold freely. It can only be sold with authorization, at a regulated price, and to buyers who meet the requirements.
What does it mean to declassify a subsidized home?In some cases, after the legal period, you can request declassification. This means renouncing the protection regime and returning any public subsidies received. It depends on the regional regulations.
Are there public subsidies for buying subsidized housing?Yes. Some autonomous communities offer grants, subsidized loans, or assistance for the down payment. These aids depend on each program and are assigned based on income level and family situation.
What is a bank guarantee when buying a home off-plan?It is a legal guarantee that protects the buyer if deposits are made before delivery. If the development is not executed, the bank returns the amounts paid. It is mandatory by law.
Can I request a mortgage before the construction is finished?Yes. You can arrange the mortgage in advance and sign it at the time of key delivery. This allows you to secure financing and avoid issues at the end of the process.
What happens if the mortgage is not approved for the purchase?It depends on the contract. Some developers or cooperatives allow you to recover the amounts paid if you provide proof of loan denial. That’s why it’s essential to review this clause before signing.
What documentation should I check before buying a new home?Check the specifications report, plans, building permit, bank guarantee, purchase contract, and, if applicable, cooperative statutes. All information must be available to the buyer.