Anyone considering buying their own apartment is undoubtedly wondering which option to choose – whether to look for offers on the secondary market, meaning they should buy a previously occupied property and renovate it to suit their preferences, or to choose an offer from a developer and purchase a new apartment finished from scratch to their exact specifications. We won't deny that, as industry experts, we recommend the latter option, and in this post, we'll explain why!
A tailor-made apartment
When buying apartment on the primary market, we are certain that we are its first owners and residents. From the very beginning, we have a say in the layout, including whether the kitchen will be open to the living room, whether space will be allocated for a walk-in closet, a pantry, and much more. A huge advantage is the ability to decide on the details and customize amenities to suit your preferences, such as colors, tiles, and matching cabinet layouts. Importantly, we eliminate the need for major renovations, replacing utilities, windows, etc. This is a major advantage of this type of investment, as frequently mentioned by our clients.
Developer properties are characterized by modern construction. The materials used during the construction phase are safe and high-quality, or at least we rely on business partners who can guarantee this! New investments have improved ergonomics and must meet the highest standards for space, sunlight, parking space width, and many other factors. Times have changed, and now functionality, energy-efficient solutions, and as many user-friendly features as possible are paramount. In the case of properties built in the pre-war era, we have no control over the structure, room layout, materials, or installations—the latter usually always requires replacement.
Check: Primary market - everything you need to know about it!
Apartment on the primary market – a guarantee is essential!
People selling their apartments on the secondary market won't provide you with a warranty period, of course. Besides the fact that you're viewing the property before buying, you're essentially buying a "pig in a poke." Furthermore, renovations can be extended for various reasons, making it difficult to pinpoint their duration and completion date. Budgeting for renovations can also be more difficult to plan, as unexpected expenses can arise along the way. In the case of apartments on the primary market, the budget is easier to predict, and the completion of construction is determined by the developer's completion date. Developer apartments are covered by a warranty period, which, depending on the contract and prior arrangements, usually covers installations and finishing touches. An additional advantage of investing in properties on the primary market is the guaranteed underground parking space, accessible by elevator.
What about the price?
The issue here seems clear. You have to pay for quality, but is it really that much more than buying an apartment on the resale market? Considering the cost of the apartment, renovations, and new furniture and equipment, one might be tempted to say that the amounts can sometimes be approximate. Importantly, we're investing here for long, peaceful years without renovations, in an apartment that's personalized and exactly what we dream of. So, isn't it a worthwhile investment?