If you have already decided that you want to buy an apartment in a new building, you should know how to protect yourself from dishonest developers. After all, the purchase of your own home is always associated with huge financial risks. The modern real estate market offers many options. It is required to carefully analyze the market, identify possible risks and benefits of housing in a new building.
Advantages of an apartment in a new building:
- the usage of new modern technologies and materials in construction;
- the possibility of choosing a suitable layout;
- lack of previous owners though legal history of the apartment;
- proper operation of all systems: water supply, electricity, elevator;
- additional amenities, such as parking and video surveillance systems.
Price Analysis and Construction company history
Prices in the primary real estate market can fluctuate constantly. Housing at low prices is usually offered by unstable developer companies or companies that have not yet completed all the necessary permits. Often, developers offering apartments at low prices either freeze construction or are scammers. Therefore, it is better to get some information about construction companies from some secure source.
It is also worth checking whether the company has a physical office within the city, phone numbers, and carefully studying the developer's website.
Documentation
The developer, at the request of the investor, must provide all the necessary documents for construction
- land lease agreement with current terms;
- permission to allocate land for construction;
- project and expertise;
- relevant conclusions on communications;
- work permit;
- a license that confirms the right to build.
Observation of the construction process
In your free time, it would be nice to take a ride to the construction site and independently evaluate the speed of construction. Find out if the developer is on time. It is worth looking at the number of workers on the construction site, the necessary technical equipment, and the presence of a crane. Many developers can work even seven days a week and at night. Now that you have figured out the main points of construction, it is worth considering where and how to buy an apartment.
Choosing an area
When choosing a location for construction, developers usually try to minimize costs, so you should study the transport interchange and infrastructure on your own. You need to check the availability of pharmacies, supermarkets, public transport stops and their remoteness. It is worth paying attention to the conditions in the courtyard of the house, whether there is video surveillance or underground parking.
Choosing appropriate buildings
Nowaday real estate market offers a lot of options which can satisfy all kinds of clients and all economical expectations. You can buy a flat with reasonable price in a new building, which is new and comfortable but doesn't have a lot of additional facilities. But if you have a bigger budget you can buy a flat in a modern residential complex. These kinds of complexes normally have their own private protected area, underground parkings, gyms and shops, playgrounds for kids and some of them even swimming pools. The apartments in such places are normally expensive but it gives you the possibility to let your children play outside and know that they are safe. Sometimes these complexes have their own school, so you save time in taking and picking up children from the school.
Choosing the floor
The professionals don't advise you to buy a flat on the first or last floor because of the close location of the basement or roof. And you need to remember that elevators sometimes do not work. In the case you live on the last floor in these situations you would be obliged to go by stairs. So the flat should be located on the floor where you can easily get on foot (first of all if you live with children or old people).
Flat location
It is better not to buy a flat in the corner of the building. These kinds of flats are worse protected from wind and cold weather. If the windows are oriented to East or West you will always have a big amount of natural light there.
Insurance
To make your purchase safe it is advisable to buy flat insurance for the cases of fire, robbery or water pipes problems which can cause flooding. There are a lot of insurance companies which offer different kinds of insurance. Also sometimes the construction companies cooperate with some of them.
Checking the quality of new real estate
A lot of people when they see that construction is going on according to the schedule , they are already satisfied. Anyhow, the final stage of all this process is to check the quality of the new construction once it is finished. It's needed to pay attention to windows, walls and ceilings (they should not have cracks and streaks ). If everything is in proper conditions and work gook you can sign the certificate of completion and start enjoying your new flat.
Definitely buying an apartment in a new building starts a new period in your life. To begin this period with positive vibes you need to take the buying process and to focus on all important issues of the deal and later you can enjoy your new and comfortable apartment.