For many residents in Spain, the dream of owning a home is becoming increasingly difficult to achieve.
As property prices surge and stock remains scarce, access to housing has officially become the nation’s top concern, according to the latest data from Spain’s Center for Opinion Studies (CEO).
In a survey conducted between February 14 and March 14, 37% of respondents named housing as their number-one worry, ahead of inflation, unemployment, or even political instability.
But when the time finally comes to buy, you’d better get it right, as architect and real estate YouTuber Edu Saz warns, your dream home could turn out to be a financial sinkhole.
‘It could be your downfall,’ he warns his 34,000 subscribers in one of his latest videos.
According to Saz, you should never buy a flat that’s more than 40 years old (1985) unless you know exactly what you’re getting into.
Old buildings, new headaches
‘Spain’s housing stock is extremely old,’ Saz explains. ‘And sometimes, doing up the flat itself isn’t enough. The most expensive problems are hiding outside the apartment — in the structure of the building.’
The first thing to check, he says, is the facade. Not just for curb appeal, but because it’s the first thing banks look at during a property appraisal. It’s also what you’ll see every day, and what any future buyer will judge when it comes time to sell.
A fresh-looking building sells faster and for more money. A decaying one? It can tank your investment before you’ve even unpacked.
Warning signs: What to look for
If you’re eyeing a flat built before 1985, tread carefully. Saz outlines several red flags that should send buyers running – or at least renegotiating.
- Cracks in the walls, especially if they’re wide or rust is seeping out of them, could indicate corroded steel reinforcements inside the structure, a serious structural issue that’s expensive to fix.
- Damp patches, mold, or lateral leaks aren’t just cosmetic. They could be signs of water ingress that require invasive and costly repairs far beyond a simple coat of paint.
- Lack of insulation is another major issue. ‘Most buildings constructed before 1985 don’t have thermal insulation,’ Saz notes. That means you’ll be freezing in winter, roasting in summer, and paying through the roof for heating and cooling – year after year.
No elevator? Expect big bills
Accessibility is another landmine. In older buildings, adding an elevator or mobility features isn’t just complicated, it’s staggeringly expensive. If you’re on the fourth floor of a walk-up, it’s not just your legs that will suffer, it’s the resale value of your flat, too.
All of these elements compound over time, eating into your investment and making resale more difficult in a competitive market.
In a market where every euro counts, buyers can’t afford to be charmed by pretty tiles or a trendy location. A flat is only as solid as the building it sits in, and in Spain’s aging property landscape, that can be a dangerous gamble.
So before you buy, Saz urges: look past the surface. Study the structure, quiz the community board, and know the real cost of ownership.
