How to sell a refurbished apartment in Barcelona? And in case I have already re-modernized it… How much is my refurbished apartment in Barcelona worth? All these and many more questions are the ones we will answer in this article.

Homeowners spend millions of Euros a year improving and maintaining their homes. In most cases, sellers recoup the money spent on any integral refurbishment when selling and often gain more because of it alongside market growth, We look at the most effective ways of renovating your home before selling and how much it costs to sell a refurbished home in Barcelona.

How to prepare your refurbished flat for sale

If you want to sell your property fast and get the best price, you need to present your home to potential buyers in the best possible light. As well as location, the highest achievable price is normally based on the property size and typical price per square metre. Buyers are always going to negotiate on price and that is often based on how much work on a property they think needs doing. It is in a seller’s best interest to minimize the perception of how much work needs to be done after the sale, so it is worth bearing in mind the difference even a minor refurbishment can make.

Evaluate your property and set a fair price

But… How much does it cost to sell a renovated house in Barcelona?

The past few years have been a bit of a roller coaster for the property market in Barcelona. The pandemic sent prices upwards as buyer demand was high particularly for homes with outside space, but then in 2022, interest rates went up along with inflation and property prices have since stabilized or gone down in some cases. This has made some homeowners wonder what their home is worth now and a good starting point is having your home evaluated. When getting a home appraisal you need to consider the ‘Fair Market Value’ and the ‘Appraised Value’.

A Fair Market Value encompasses what your property sells for in comparison to other similar homes in the area. If you choose to work with a Real Estate agent, this is what they will look at and what buyers have been willing to pay for a home comparable to yours in the same area. The Appraised Value also factors in comparables but a licensed appraiser will also factor in renovations and the condition of your home. The Appraised Value is also what mortgage lenders look at.

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Make small but significant improvements

As we have already stated, even minor improvements to your home can make a big difference to how quickly the property sells and at what price. Here are a few pointers to bear in mind when you prepare your home for selling:

– De-clutter and give your home a deep clean before visits or photos of your home.

– Give a lick of paint to tired looking walls and doors but keep the colours neutral.

– Carry out any minor repairs – dripping taps, broken locks, squeaky doors, etc.

– Remove evidence of pets or personal photos.

– Turn bedrooms back into bedrooms if they have been used for something else such as an office or gym.

– Consider using professional home staging to give you an edge over other properties in the area.

Hire a professional photographer to take attractive photos of your property

First impressions are everything when it comes to selling your home. Potential sellers want to imagine they can see themselves in their new home and the more inviting it looks, the easier that will be. Get a professional photographer on board to ensure that your home is put in the very best light (both literally and metaphorically) possible. If you are working with a Real Estate agency, they will have their own professional photographers. Otherwise go by recommendations and make sure you take a look at the photographer’s professional portfolio first, and don’t forget to compare prices. It is normally half a day’s work.

How to promote your refurbished flat in Barcelona

Once you have your home in the best possible shape, you then need to show it off to prospective buyers. As well as telling friends and relatives, there are three main ways of promoting your home.

Advertise on property portals

Spain has numerous property portals and you want to make sure that your home is on the best ones, given that buying and selling is one of the biggest stages of our lives. Property portals showcase all types of properties which are filtered, and segmented by different places and characteristics. The top ones include Idealista, Fotocasa, Habitaclia, pisos.com, ThinkSpain and Kyero.

Advertise on social media

Social Media has grown exponentially in the last few years. People are using different online platforms more than ever, not only for entertainment but also for commercial reasons including looking at properties to buy. If you have lots of followers and connections, it might be worth considering featuring your home for sale on your own social media platforms. Social Media promotion can often take time however, and it also needs crafting carefully in order to catch the attention of people in an incredibly competitive space. Most Real Estate agencies have their own social media channels and community managers who create the posts on platforms such as Instagram, Facebook and LinkedIn.

Consider hiring a Real Estate agent

Almost all homeowners want to sell their home quickly and at the right price. The best way to do this is to enlist the services of a recommended local Real Estate agency. Real Estate agencies take away the stress and strain of selling a property plus they know the market inside out, they are familiar with the neighbourhood and will tailor all the marketing of your home accordingly. Speak to friends who have had good experiences with local agencies, read reviews on google and social media. Speak to different agencies to work out the ones which you feel most comfortable with and ask questions about commission, where and how they market properties or if they do any Public Relations. Sometimes paying a bit more on sales commission to get the best price on your home and take away the stress is well worth considering.

How to close the sale of your refurbished flat in Barcelona

Be prepared to negotiate the price

When a property is priced either by the owner or a real estate agency, it is generally expected that a buyer will offer a lower price, at least to start with. Owners need to be prepared to negotiate the price based on what they genuinely believe that their home is worth and what price they are happy with. Before setting a price, give yourself a bit of a margin – maybe 10% and be prepared to agree on that price if a buyer is not budging. Real Estate agencies are experienced in these types of negotiations and therefore it is one of the best reasons for enlisting an agency to sell your property.

Be flexible with closing and moving deadlines

Life is unpredictable. In some cases, deadlines for exchange and completion on a property may have to be adjusted to accommodate the buyer. They may have problems selling or renting their current property, obtaining a mortgage or other necessary documents. This means that the closing date you had in mind may have to be put back. If you and/or the real estate agency are comfortable that the buyer is serious, then try to relax and let things happen at their own pace.

Make sure everything is in order before signing

A property title or sales deed is one of the most important documents you must have when selling your property in Spain. It shows that you are the owner of the property and will be transferred to the new buyer. A Notary will require the original copy of the title deed. If you cannot find it, you can always get a new copy from the Notary where the purchase and sale operation was carried out. If you purchased the property with a mortgage, the bank should also have a copy.

The proof of mortgage cancellation is also called the “zero mortgage balance certificate” and is proof that the mortgage has been paid or cancelled. The cancellation of the mortgage is carried-out before or on the same day of the sale With the mortgage paid, the new owner can easily register the property under his or her name at the Public Property Registry.

Since 2013, it has been obligatory for anyone selling a property in Spain to have an energy efficiency certificate. This is an indicator of the house’s energy efficiency and is rated from A to G, with A being the most efficient one.

You also need to provide up-to-date payments of gas, water, and electricity. The new owners or real estate agency will then be able to change the bank account and holder of all utilities. There should be no existing debts on utilities.

The buyer and the seller have to agree on the amount of IBI (Real Estate Tax) each has to pay. All property owners must pay it once a year on the 1st of January You always have to verify that the Deed mentions which party will pay the tax on the purchase year.

Habilitation certificates are issued by the ayuntamientos (town halls) when the property meets their requirements. They are issued to the builder when they finish a new constructio and expire after fifteen years, after which they need to be renewed.

Community related documents apply when you are selling a property that shares common facilities such as pools, the building, gym and garden. The new buyer will need a copy of the rules and statutes of the community before they can move in.

The technical inspection of building document applies to buildings in Barcelona that are older than 45 years . It shows that the owners keep the builiding in a correct state of use and maintenance. An architect reviews the common elements to detect if there are deficiencies that pose a risk to inhabitants. If any deficiencies are found, necessary repairs will need to be carried out over a certain period of time.

Benefits of selling a refurbished flat in Barcelona

There are many upsides to selling a refurbished property over one that looks a little on the tired side. By giving a basic makeover, de-cluttering and cleaning you are giving potential buyers less reason to look at other homes. It also means that the selling process is less daunting, knowing that you have maximized your home’s selling potential you never know, you may even have buyers fighting over who will be the new owners of your home!

Refurbishing your property before selling in Barcelona