What to look out for before buying a newly built property.

The INVESTA Real Estate team, with extensive experience in newly built properties under its belt, presents you with a study on what you should consider as a prospective buyer of a newly built property, before making your final decision to purchase it. There are always pros and cons to work out.


Clearly, the advantages outweigh and are as follows:

1. You can add your personal touch to the last details of the features you would like the house to have.
2. A very positive fact, is that you will be the first to inhabit.
3. The energy class of the property is much higher, since it is a new construction.
4. It has been observed that newly built properties are built in areas that are experiencing development and have better infrastructure with shops, beautiful parks, bike paths, etc.
5. Moving into a newly built home is relatively quick and easy.
6. In the first years the maintenance cost is very low.

But there is always the other side of the coin. In this case, the disadvantages we encounter are the following:

1. Usually the design of the space has been chosen from the beginning and it will be difficult to make large aesthetic interventions.
2. It is important that you have received the general written obligation of the manufacturer, the terms of warranty and security of the house, because some construction errors may be covered temporarily, but it will be something that you will encounter in front of you in the long run.
3. If you absolutely want some changes to be made to the house, you should be aware that the purchase price will be modified upwards.
4. There may be delays in the delivery of the house by the contractors.
5. The margins in price negotiation are narrow.

More generally, it would be good to take into account the reviews of the construction company, but also what options are given by the contractor regarding the configuration of the space and what guarantees in case of mistakes. You should also look at the applicable price to see what infrastructure and features are included, study the terms of the contract before signing and calculate the possible additional costs of setting up the property.

Newly built property is always a special and very good investment. All the above factors are the key to a smart purchase that will meet your needs.

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