The Positives of Buying New-Build Property
Although their purchasing prices are higher than resale properties, new-build properties are by no means short of positives to attract buyers. Exemption from property tax for two years, energy savings, building guaranties... not to mention the reduced notary fees. Here’s an overview of the benefits of investing in new-build real estate:
Why new-build over resale?
The process of buying a property is complex, with many factors to consider : from the location, to surface area, to financing etc. Equally important is the decidion to invest in either a new-build or a resale property. Purchasing new-build properties tends to be around 15-20% more pricey than their resale equivalents, so why should you prioritise this option? First and foremost is the fact that new-build properties will meet current security and technology standards - whether that’s for construction electric installation or fittings. They guarantee an optimisation of energy consumption thanks to modern isolation methods and less energy-consuming electric or heating systems.
A Range of Warranties
Moreover, buying a new-build property allows you to benefit from a number of warranties that would not be available to you if buying a resale property. The completion warranty covers any eventual damages that could affect construction. It covers a year-long period from the date the work is accepted. The biennial warranty covers the removable elements, such as the boiler, radiators or electrical outlets. This warranty lasts two years from the date the work is accepted. And finally, there’s the ten-year warranty from the date the work is accepted. This protects the buyer against damages that could weaken the building: creaks, leaks etc. N.B. this only works in cases where the damages are not related to normal wear and tear or maintenance issues
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