What are common pitfalls when relying on fixed prices for Costa del Sol new builds?

While fixed prices in new build contracts on the Costa del Sol generally offer stability, buyers should be aware of potential pitfalls. One common issue is not fully understanding what is included in the 'fixed' price. Sometimes, essential extras such as kitchen appliances, air conditioning units, landscaping for private gardens, or even basic lighting fixtures are not part of the standard fixed price and can significantly increase the total cost if not clarified upfront. Another pitfall arises if the 'fixed' price is not genuinely fixed but contains clauses allowing for adjustments based on material cost increases or unforeseen circumstances, especially in long off-plan construction periods. Buyers might also overlook the impact of financing costs or exchange rate fluctuations if their mortgage or payment plan is tied to a currency different from the property's price. Furthermore, a fixed price does not necessarily guarantee the timely completion of the project; delays can lead to additional living expenses or mortgage interest payments. It is crucial to have an independent legal professional review the contract thoroughly to identify any such clauses or exclusions. They can also advise on payment protection schemes and ensure the developer has appropriate bank guarantees for off-plan payments. Always confirm the exact specifications and inclusions with the developer in writing, and consider building in a contingency fund for potential unforeseen costs, even with a seemingly fixed price contract.