Why choose new build property
Choosing a brand new property offers a clear advantage over existing ones.
Here's why can be the smarter move:
Fixed Price, No Bidding Wars:
Unlike existing properties, you avoid stressful bidding wars and pay a set price. You know exactly what you're spending upfront, with no risk of overpaying.
Reduced Closing Costs:
Save money on property transfer tax, appraisals, notary fees (around €2,000, partially tax-deductible), and real estate agent commissions.
Mortgage discount:
New builds have the highest energy efficiency class available, which applies for a mortgage discount of up to 0.2%.
Lower Long-Term Expenses:
Have lower energy bills thanks to high energy-efficient features like insulation and ventilation systems. Plus, with everything brand new, you can expect minimal maintenance costs for years to come.
Warranty Protection:
Benefit from the builder's warranty, offering peace of mind for any initial issues that may arise.
Your Home, Your Way:
Almost all developers offer flexible floor plans or the ability to choose finishes, allowing you to personalize your space from the start. When you move in enjoy a fresh, clean space with the layout and features you choose.
Yes, there are a few things to keep in mind with new builds:
- Waiting Time: Construction takes time, so you might need to wait to move in (up to 2 years).
- Location: New construction projects may not be located in established neighborhoods.
- Double Cost: You'll start paying your mortgage from the transfer date, even though you haven't moved in yet.
However, weigh these considerations against the disadvantages of existing properties:
- Outdated features and potential hidden repairs can cost you a fortune down the line.
- Older construction often leads to higher energy bills.
- Uncertainties about the quality and legality of previous renovations can cause headaches.
Overall, a new build property offers a predictable financial path, a brand new space tailored to your needs, and peace of mind with a warranty. While there's a waiting period to consider, the long-term benefits often outweigh the short-term inconvenience.