Check the reliability of the builder
The first and most obvious thing to do is to check the reliability of the builder. This is done as follows:
Check if the company has bank accreditation, preferably with a known and safe institution;
Review construction and land documents, which should be publicly available on the company’s website, and cross-check with state records;
Pay attention to developer properties that have already been completed, check their reviews and consider the number of properties.
If the developer does not have the necessary documents or builds his first house on his own (without partners), the buyer should not use the services of such a company.
Rate the location of the house
The location of the house is an important part of its liquidity as an investment. Of course, it has a direct impact on the price, and it is not always possible to buy a house in a good area, in such cases you should think about whether such a purchase is even necessary.
Walk around the area, assess traffic, access to schools and kindergartens, shops, gas stations, access to restaurants, parking lots and other infrastructure. Yes, you may not need them specifically, but improving all of these factors will have a direct impact and greatly affect how the cost of housing will increase.
As for choosing an apartment in a promising area, in our reality it is quite difficult to assess the probability of development of a certain urban area. Yes, the developer will be happy to tell you that in a few years the subway, shopping center, schools, kindergartens and everything else will be built here, and operating with the fact that even the city authorities may have the development of the area in their plans. But the reality is that this is almost never achieved.
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Choose your plan and floor
An important factor for housing liquidity is not only the location of the house, but also the location of the apartment in the building. A nice terrace, panoramic windows with a beautiful view, a spacious living room – a property with these advantages may cost a little more, but it will increase in value later.
Try to predict what view you will have from the windows of the apartment in 5, 10 years. If there is a possibility that a new construction will appear right in front of them, it is better to refuse such properties.
Floors also play a role, but not as important as many people think. Indeed, ground floor apartments usually cost less and are not bought with such pleasure, but they always find owners. Old people and young couples with children will be happy to buy from you if you ever want to sell or rent.
Find out how much the house costs and what the terms of purchase are
The price of a property in a new build can vary depending on a number of factors:
construction stage (completed or under construction)
finishing of walls and ceilings
the furniture;
the floor;
the number of rooms and additional additions (large balconies, a second level, a shared storeroom, etc.);
the neighborhood and its theoretical viability.
It is quite difficult to assess whether the price corresponds to the reality, because a global assessment and understanding of the market is needed. To avoid paying too much for an apartment, we recommend contacting a professional, such as Mirax Real Estate Agency. Our experts will help you find or evaluate a home, keeping in mind your budget and saving time and money.
See the house with your own eyes
Of course, if the house has already been built, it is not difficult to do this. Ask for the help of a handyman who can assess the quality of construction and finishes and go see the house. Try to see as many houses as possible in different areas, comparing and contrasting their prices.
What should you do if the property is still under construction? In this case, we recommend that you visit the builder’s previous properties that have already been completed. Take a look at the houses, the improvements, go inside if you can, and also talk to the residents, asking them about the quality of construction and finishes, the sound insulation of the walls, the reliability of communications, etc. If you have serious complaints or see things you don’t like, there’s no reason to assume that the next property from the same company will be better – it’s more likely to be worse.
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p class=”mb-8 px-6 md:px-0 font-bitter text-s17-l170 md:text-s18-l170 text-c121212″>Buying a house in a new complex is risk-free, as long as you choose the property correctly, without haste and with knowledge. So, be patient, be consistent and you will succeed.
