Anyone facing the purchase of their own flat is surely wondering which option to choose - whether to look for offers from the secondary market, i.e. buy a previously inhabited property and make renovations to suit your preferences, or to bet on an offer from a developer and buy a new flat finished from scratch according to your own expectations. We will not hide the fact that, as experts in the industry, we recommend the second option and, in this post, we will justify this choice to you!
Buying housing on the primary marketWe have the certainty that we are its first owners and residents. From the very beginning, we have an influence on the layout, i.e. whether the kitchen will be open to the living room, whether there will be space for a wardrobe, a pantry and much more. A huge plus is that you can decide on the details and adapt the facilities to your own preferences in terms of colours, tiles or the matching layout of the cabinets. Importantly, we walk away from carrying out a general renovation, replacing plumbing, windows, etc. This is a big advantage of this type of investment, as our customers often mention.
Property development is characterised by modern construction. The materials used during the construction phase are safe and of high quality, or at least we rely on business partners who are able to guarantee us this! New developments have better ergonomics and have to meet the highest standards in terms of space, sunlight, width of parking spaces and much more. Times have changed and now functionality, energy-efficient solutions and as many user amenities as possible are important. In the case of properties built in the pre-war era, we have no influence on the construction, room division, materials or installation used - the latter is usually always to be replaced.
Check: The primary market - everything you need to know about it!
People selling their flat on the secondary market will not provide you with a guarantee period, that much is clear. Apart from the fact that you view the property before you buy it, you are, in a way, buying a "cat in the bag". What's more, the renovation period can extend for a variety of reasons and it's hard to specify the duration and completion date. The renovation budget can also be more difficult to plan, as unexpected expenses may arise along the way. In the case of primary market flats, the budget is easier to predict and the completion of the construction work is defined by the date by which the developer is expected to hand over the property. Developer's flats are covered by a warranty period, depending on the contract and prior arrangements, it usually applies to installations or finishing elements. An additional advantage of investing in real estate on the primary market is the guarantee of parking spaces in the underground car park, which can be accessed by a lift.
Here the issue seems clear. You have to pay for quality, but is it really much more than buying a secondary market flat? Taking into account the cost of the flat, the renovation, the purchase of new furniture and furnishings - one is tempted to say that the amounts can sometimes be approximate. Importantly, here we are investing for long, quiet years without renovations, in a flat personalised and exactly as we dream of. So isn't this an expense worth investing in?
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