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What to buy: an apartment in a new building or secondary housing?

How to choose an apartment in a new building and in the secondary market. Professional advice.
20.09.2019
What to buy: an apartment in a new building or secondary housing?

Choosing an apartment, potential buyers often wonder what is better-a new building or secondary housing. Both types of real estate have their advantages and disadvantages, after analyzing which the buyer decides to purchase. In this article, we will help to understand this issue and make the right choice.

Risks

The cause of maximum concern for homebuyers is the possibility of being cheated. A victim of fraud can be a buyer of secondary housing, and an investor in primary real estate, who chose an unscrupulous developer.

The purchase of an apartment in a building under construction is not a purchase, but an investment. The main risk for the investor is fraud or bankruptcy of the developer. The house may not be completed or put into operation, delay the deadline, do not issue ownership, do not connect communications. There are many reasons to freeze construction and, unfortunately, not all of them are predictable. In this case, you can stay without money and without an apartment.

Based on this, we strongly recommend that you contact only reliable developers with a proven reputation. Companies, which account for a sufficient number of successfully implemented projects, put into operation on time. Carefully study all the documents on the property and the contract of sale, consult with experts.

Secondary housing also has its drawbacks in the form of unexpected heirs, registered tenants, mortgages and debts. In addition, by purchasing a "secondary", you can become a victim of a planned fraudulent scheme.

Time constraints

When buying an apartment in the primary market will have some time to wait for the completion of construction and repair. The main advantage of secondary housing is the ability to buy an existing apartment and immediately enter it. However, it will also need to be repaired. Although, the minimum conditions for life it is still undeveloped.

Price

With all the shortcomings of the "secondary", it is here that the price is much higher. Apartments in the secondary market for 10-25 % more expensive than the primary. And investing in a new building at the initial stage of construction, you can save up to 35% of the cost compared to the price of housing in the already commissioned house. And the option of installments from the developer and a relatively small down payment, especially in the absence of affordable mortgage lending, make housing in the primary market more attractive.

Of course, it is necessary to take into account that the apartments from the developer are transferred to the buyer, often without interior decoration. Major repairs will have to spend some time and financial resources.

In the secondary market, cheap and quality housing is a rarity, and an apartment with a good modern renovation will cost a lot of money.

It is worth noting that the pricing of real estate is influenced by factors such as the location of the object, the quality of construction work, the General condition of the apartment and common areas, social environment, infrastructure, transportation.

Prices for primary and secondary real estate are formed on different principles. Construction companies in the formation of prices are guided by the purchasing power of the population, as they need as soon as possible to sell their goods and invest the money in a new project. Whereas the seller in the secondary market has no such problem, and he can keep the price he needs as long as he wants.

Communications and planning

The main disadvantage of secondary housing is its venerable age. Construction quality criteria and standards are continually being improved and developed. Modern materials and technologies are not comparable with those used in the construction of old buildings. Because "secondary" in many respects inferior to new buildings.

New houses are built according to modern norms and standards, they are equipped with high - quality silent elevators, new communications, sound and heat insulation. The layout of the apartments is very comfortable.

Houses of the old Fund are characterized by a deplorable state of intra-house communications, load-bearing structures, and ceilings, a large loss of heat, lack of noise insulation. In addition, in secondary housing, you can not significantly change the layout.

Infrastructure and common areas

Modern developers are trying to take care of the development of infrastructure and public areas. Old houses rarely boast beautiful corridors, cleanliness in the entrance, modern elevators, comfortable recreation areas. Buying an apartment in a new building, you get it all, and much more. Do not forget about the availability of parking, storage rooms, CCTV cameras, security service, children's and sports grounds, green areas. And due to the fact that the developer often allocates the first floors for commercial space, in new buildings, you can find shops, sports clubs, child development centers.

Another significant advantage of the new residential complexes is the availability of its own maintenance services. Already at the initial stage of construction, the developer enters into a contract with the management company to provide the full range of utilities. That allows you not to worry about the cleanliness and landscaping, garbage collection, and any faults will be promptly eliminated.

Summary

Taking into account all the above, we recommend, first of all, pay attention to the houses under construction in your city. If the purchase of housing is not an urgent need, and is considered, rather, as a profitable long-term investment, the apartments in new buildings, of course, win this dispute. Of course, the ideal option is a new housing in the already completed and commissioned building. But the price per square meter, in this case, will be much higher than the first two options. Either way, the choice is yours. We, for our part, will always be happy to help you with professional advice.