Real Estate BlogReal estateWhat you need to know when buying an apartment?
Apartment purchase – laborious process, which is extremely difficult to deal with without knowing the intricacies. In this article, real estate expert Alexander Tsvigun share secrets: How to buy an apartment in a prestigious area correctly, in great condition, inexpensive? And also how “knock down” price and reduce the risk of getting caught by scammers. The article – answers to buyers' questions.
First of all – buyers need to decide: apartment in a new building (primary market) or in the secondary market (b / u)? For the correct choice, you need to decide on the budget and your own desires regarding the condition of the housing, infrastructure and other.
Interesting fact: According to official data, it is cheaper to buy a new building in large cities., in small - an apartment from the secondary market.
For greater clarity of the dynamics of prices in the real estate market of Ukraine, our editors have prepared a comparison table (2018-2020city).
| Primary market | Secondary market | ||||||||
| 2016city. | 2017city. | 2018city. | 2019city. | 2020city. | 2016city. | 2017city. | 2018city. | 2019city. | 2020city. |
| 102,1% | 104,1% | 105,1% | 107,9% | 104,5% | 103,4% | 106,2% | 108,0% | 108,9% | 107,7% |
*table 1. The dynamics of price changes in the primary and secondary markets in %. Statistics of the Ministry of Justice of Ukraine
After analyzing this data, become clear, that the apartments are on secondary market – grow in price more intensively. If you choose an apartment knowing, that you will sell it in the future – pay due attention to this fact.
Each option has advantages, limitations, peculiarities. Consider, which housing wins in terms of comfort, savings, reliability of the purchase and sale transaction.
Healthy: Taxes on transactions with real estate in Ukraine in 2021 year
Developers are building new houses using different construction technologies: use materials of different quality, different thermal insulation, noise reduction and so on. This directly affects the level of the new house.: economy, comfort, business, premium class. Let's analyze the pros and cons of new buildings.
Advantages:
A significant plus - norms, obliging the developer to provide the infrastructure of the residential complex. Projects include parking, baby, sports grounds, landscaping. Usually there are shops nearby, kindergartens, schools, stopping.
Flaws:
A significant disadvantage is the risk of changes in construction time, developer bankruptcy. But, choosing housing in a new building, you can exclude these disadvantages, by contacting a reliable developer and real estate agency 1REALTY.
Aftermarket properties attract attention with their location, layout, finished renovation.
Advantages:
Flaws:
To summarize the selection of an apartment, pay attention to the comparative table of expenses when buying an apartment:
*Important! It is necessary to take into account the fact that, that when purchasing an apartment in a new building – need to live somewhere during construction and renovation, usually – buyers resort to temporary leases, and this is an additional item of expenses. To an apartment on the secondary market – move immediately.
| Housing category | Mortgage | Mortgage insurance | Appraisal kv. with a mortgage | Rough repair | Fine repair | Expenses for rent sq.. | Expenses |
| Primary market | Yes | No | No | Yes | Yes | Yes | Yes |
| Secondary market | Yes | Yes | Yes | No | Yes | No | Yes |
The table shows, a mortgage can be issued for a new building and a secondary housing. In the first case, you will not need to pay for insurance., in the second - it is obligatory.
Property prices fluctuate depending on the area, season, owner's life situation.
Sources of information:
The real estate agency always owns the most accurate, up-to-date information. By contacting specialists – you will get the best option for cost.
Within budget planning, you need to know about the associated costs, which are necessary when buying an apartment:
1REALTY recommends contacting experienced professionals, which will help you choose an apartment and reduce the risk of losing money, to reduce the time spent and to simplify the process of buying an apartment as much as possible.
Savings when buying an apartment – this is an important point, which many buyers forget about. The money saved can be invested in the renovation of the acquired housing, improving living conditions.
Some interesting facts: Housing in the center is more expensive, in remote areas - cheaper. One-room apartments are more popular than three-room apartments, price per square meter odnushki - higher. Kitchen area, presence / absence of a loggia, floor - significantly affect the cost.
Bargain. Most sellers are willing to bargain. Worth a try, even if the mark "bargaining is appropriate" is absent. The owner will cede, if you persist. A powerful argument - comparing the price of an apartment with competitors.
Useful life hack - discounts, promotions for construction options:
During periods of sales decline (summer, new year holidays) developers reduce prices, give a rough repair, cancel the initial payment, etc..
An example from the practice of this life hack:
Alexander, resident of Odessa, bought an apartment in a new building on 30% cheaper, by concluding an agreement at the start of sales, on the "pit". He lives with relatives, waiting for the delivery of the object, and does not spend on rental housing.
The smaller the apartment, the cheaper. It is wiser to choose a rational layout of a smaller area., without wide corridors, non-standard and walk-through rooms. The value of the property is going down, if it has a small kitchen, combined bathroom.
Competent choice of floor. Apartments on the first, the last and 13th floors - cheaper. Discount is offered on housing, located above the 4th floor of houses without an elevator.
Practical example:
Location is important. Choosing an apartment in a new building, Yuri asked, is there any housing of the same area in the high-rise building?, but cheaper. The developer offered an option next to the elevator. Yuri saved $4000.
Customer, completing a sale and purchase transaction on his own, risks significantly. The construction of a residential complex may freeze, a deal to buy an apartment in the secondary market - to object.
A common phenomenon is the appearance of the seller's relatives, eligible for an apartment. There is no consent to sell, means, the contract is easy to cancel. The deal is invalidated, the apartment will be taken away.
The purchase of housing before the start of sales sometimes turns into changes in the timing of construction, decrease in the actual area of the apartment, lack of promised communications. Worst case - developer bankruptcy, in which it is not easy for equity holders to return their hard-earned funds.
Conclusion of a sale and purchase transaction based on forged documents. The seller showed a power of attorney? She may be revoked. If the principal dies suddenly, the document becomes invalid.
Self-purchase of real estate requires lengthy preparation and risk assessment. Search and purchase algorithm:
Buying with a real estate agency:
The real estate agency is responsible for eliminating risks and paperwork. 1REALTY recommends seeking help from specialists, who will help at all stages of home acquisition, minimize risks and check the entire legal side of the issue.
Related article: What to look for when buying an apartment?
When buying an apartment, an important factor is the verification of all documents. There are many cases, when buyers, due to poor knowledge in this area, face serious problems:
There are no less “pitfalls” in the script., when an apartment is bought from a developer:
These are just some of the "hidden problems", what a potential buyer can expect. Without checking any of the above factors, You risk losing your money and your purchased home.
How to buy an apartment correctly, so as not to face unforeseen difficulties?
Decide on the choice: primary or secondary market. Find out current prices, find a competent intermediary, to speed up the deal. Reduce risks and save, using the advice of a realtor.
The last step is to enjoy a quiet life in a comfortable, cozy apartment.
With the beginning of a full-scale invasion 24 February 2022
in 2023 about a year 50% apartments, acquired
Commercial real estate is land, squares,
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