Renovating property in Mallorca
Rebuilding, refurbishing and renovating your dream property in Mallorca.
Renovating property in Mallorca is an exciting project and if done with care, a lucrative one too. Your money goes a lot further in Spain, the property you do up will be a much closer fit to the one you have dreamt of and you have holidays lined up on a Mediterranean island for the foreseeable future.
Understanding Planning Regulations on Renovating Property in Mallorca?
Is your new property in Mallorca listed as Urban or Rustic? If the property you are interested in buying is in the Urban zone, you can broadly assume you can build on it, if it is in a Rustic area however, you may not be able to build there and renovating property will require a special license. The permits you require are categorised as Obra Mayor and Obra Menor. Obra Mayor Licenses are required for new and large restoration projects, while Obra Menor for more simple renovation work. Both permits are issued by the Town hall (Ayuntamiento) and calculated as a percentage of final (estimated) construction fee plus the difference based on actual cost.)
Another important factor is size. How much land is the property sitting on? You will need to check with the Environmental protection Authority to assess exactly where the property lies.
For renovating property in rustic areas you will need both regional as well as local authority approval. Because regulations are always changing, before buying and renovating property in Mallorca, get an architect to draw up a current, formal assessment of the situation.
Check Mains Services before Renovating Property in Mallorca.
The architect can research and confirm which services are available to the property (mains water, electricity, sewage). This is called a Dictamen, a formal statement by the architect which states what can and cannot be done on the property and what services are available. This has important implications to the costs and design of renovating property in Mallorca. You will need confirmation if you do have mains and if not, need to know if it is possible to connect.
Renovating Property in Mallorca - How to Choose your Architect in Mallorca.
Choose a charming one. It will be an essential quality in all the face to face meetings with local and regional planning officers. You will be needing the architect´s help for a while if renovating property in Mallorca, so choose someone with a good track record, thorough knowledge of the regulations and with a good command of English.
Renovating property in Mallorca is an exciting project but costs can get out of hand if you are not careful. Before you start renovating property in Mallorca clarify if you have been given a fixed price quote or an estimate which can soar as the renovation proceeds. Get a quote and contract for every step of the process.
Making a Residual Valuation for Renovating Property in Mallorca.
Before buying and renovating property in Mallorca, calculate, value minus costs minus time. This is called the residual valuation and will help you figure out how much you should be paying for property you are renovating in Mallorca.
Calculating Costs for Renovating Property in Mallorca.
Beware of listening to others and their calculations on this much per square metre etc, because their estimates can be misleading.
You will need to make detailed calculations according to the specific property you are planning to renovate. Site preparation, professional fees, structural system, quality of finishes and design all have varying costs. The best option is to discuss this in detail with your architect beforehand and remember your suppliers will most probably be under quoting in order to secure the deal.
Remember to include possible structural issues and landscaping on the site, the value of speed in keeping labour and running costs down and that no real quote can be made until after the design process has been completed.
Deciding How Much of the Existing Property to Renovate.
A renovation project on a property in Mallorca can range hugely between a few licks of paint and an entire structural change. Deciding how much to reform will depend on costs, regulations and your own personal choice.
Your architect and head builder will be able to ascertain how much of the property can be saved. Get a structural survey.
The Investment Value of Renovating Property in Mallorca.
Home Energy Efficiency Certificates
In line with other European countries, property owners in Mallorca are required to have energy efficiency certificates if they are building a new property and before they sell or rent their home.
The certificate provides information on the energy characteristics of the property, rating from A to G, whereby A is the most energy efficient and G is the least.
You can apply for the certificate online via the official governmental page. The form will ask you for basic information on the owner, the property and location.
An onsite audit is carried out by a technician. The technician will then calculate the property's energy efficiency via an authorised computer software system which will use the property with a grade from A to G along with recommendations for improvements.
It is registered by the property owner at the Autonomous Community Administration Offices (Dirección General de Industria y Energia)
Insulation, under floor heating and plenty of inside-outside spaces add comfort to your property and thus add value.