Market · Renovation
Buy a renovated home or one to renovate in Marbella and Benahavís? Which is better?
There is no single right answer for everyone. Each option has its small print, and it pays to read it before deciding.
SHORT ANSWER
A renovated home includes a developer's profit that you pay in exchange for certainty and speed. Buying to renovate can work out well, but a high-quality full renovation in Marbella and Benahavís usually costs between €1,500 and €2,500 per square metre, and overruns run at around 15-25% if nobody experienced controls the works.
IN THIS ARTICLE
It is one of the doubts I hear most in this price range: pay more for an already renovated home and move in within a few weeks, or pay less for one with potential and take on months of building work. It applies to buyers and sellers alike.
1. Peace of mind costs money
A move-in-ready home includes something that does not appear in any number: certainty. You know how it will turn out, when you move in and what it costs you. That peace of mind has a clear cost: the profit of the developer or investor who took on the works is included in the price, along with the time invested, the capital tied up and the risk that something went wrong. It is a reasonable premium, because the work is done and the result is visible, but it is worth bearing in mind when comparing with an unrenovated home.
2. Renovating can go well or badly
Buying to renovate can be a good deal, but only if the area, the house and the community all help. Old pipes turn up when the walls are opened, permits take time, decisions change along the way. When everything fits, the saving is real and the home ends up as you wanted it; when it does not, the bargain ends up costing the same as the renovated home, or more.
3. Before deciding, look at what you cannot see
- Check the roof, pipes and walls before the kitchen
- Ask for a fixed quote in writing, not a rough estimate
- Ask what the homeowners' association (comunidad de propietarios) allows: many gated communities have their own building rules
- If you need licences, find out the real timescales at the town hall
Whoever knows what they want and how hard they are willing to fight for it gets either option right. Whoever does not gets both wrong.
Alfonso Lacruz
To understand pricing, read what determines the value of a villa and new-build prices.
Frequently asked questions
How much does it cost to renovate a home in Marbella?
A high-quality full renovation usually costs between €1,500 and €2,500 per square metre, based on our experience.
What overruns are usual?
Around 15-25% if nobody experienced controls the works: old pipes, permits that take time and decisions that change.
Is it worth renovating before selling?
It depends on the home and the market price. It is worth comparing with sales of renovated and unrenovated homes in the same area.
About the author
Alfonso Lacruz
Naval engineer and market analyst. Over 25 years advising owners in Marbella and Benahavís. Publishes a monthly market analysis with Land Registry data.
The figures are indicative and every property is different: for a specific number, ask for a valuation of your home.
Sources: Experience of Alfonso Lacruz Team | KW in Marbella and Benahavís. Last updated: 8 June 2026.
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