Ten years after buying a new apartment, you can now assess how well it meets your initial expectations. You know whether the layout is convenient for your family, how well the common areas are maintained, and how much it costs to maintain the apartment and the building. Some of these issues can be clarified even before the purchase by carefully reviewing the project plans, the planned construction, and the terms for future management.
When buying directly from the developer, you can obtain detailed information about the floor plans, materials, utilities, and the organization of the common areas. In the early stages of the project, you may have a wider selection of available apartments and be able to discuss permissible changes before the relevant construction work is completed.
At BLD, we evaluate the long-term benefits of a home based on how it will be lived in and what maintenance it will require over the years. For the buyer, both the total cost before moving in and the home’s ability to remain comfortable as family needs change are important. Building maintenance is also a factor in this assessment, because the condition of the roof, the utilities, and the common areas affects every individual apartment.
How can you choose a home that will still meet your needs years from now?
When comparing architectural plans, pay attention to how each room can be furnished and used. The shape of the rooms, the placement of windows and doors, and storage options will be important throughout the entire time you live in the apartment.
An extra room, for example, could initially serve as a home office and later become a child’s bedroom. This change requires appropriate dimensions, sufficient light, and the ability to rearrange the furniture. If the room is cramped or has awkwardly placed openings, adapting it for another purpose may require more effort and expense.
When buying from a builder, you can discuss these issues while reviewing the plans. Our advice is to check whether the furniture you intend to use fits based on its actual dimensions and whether there is enough space left for movement. The space around the table, the ability to fully open the closet, and unobstructed access to the windows give you a concrete idea of how comfortable the rooms will be.
Also consider which features will be difficult or impossible to change after the purchase. The building’s orientation, floor level, location, and the apartment’s basic layout deserve special attention. These factors will determine your living conditions, even after you decide to change the furnishings or the purpose of a room.
How should you evaluate the payment terms when buying a property?
The appropriate payment plan should be tailored to the funds you’ll have available from the time you sign the contract until you move in. When buying a home under construction, you need to compare the payment schedule with your savings, your options for bank financing, and your other household expenses.
The payment terms for purchasing a property should be considered alongside the total purchase price. A smaller down payment may allow you to set aside funds for other needs, but you must be able to make subsequent payments on time. If you’re counting on the sale of another home, plan for the possibility that this transaction may take longer than expected.
If you buy early, you may be able to get a better price on the apartment. To assess the financial benefit, include in your calculations the expenses incurred until the property is completed. Rent for your temporary housing, any interest on a loan, and the cost of finishing the apartment are all part of the total amount needed before you move in.
Compare offers for apartments with the same level of completion and clearly specified amenities. Clarify whether the price includes a storage unit, appliances, and necessary parking. This will allow you to assess the difference between the offers once you’ve added all the costs associated with purchasing and preparing the home.
What are the benefits of buying a property with an installment plan?
The main benefit is the ability to spread the purchase price over several installments. This can help you combine personal funds with a loan or maintain a financial reserve until a specific construction phase is completed.
When choosing a property with an installment plan, check when each installment is due. Payments due on a specific calendar date and payments due after a verified stage of construction impose different conditions on the buyer. The contract must clearly specify the due dates, the documents certifying construction progress, and the consequences of delays in construction or payment.
If you plan to take out a mortgage, clarify with the bank when the funds for the purchase can be disbursed. The bank’s deadlines and requirements must align with the agreed-upon schedule before you commit to any payments that depend on the loan. The specific terms are negotiated for the selected property and should be confirmed in writing.
What are the advantages of living in modern buildings?
Technical specifications are useful to the buyer if it is clear how they affect the conditions inside the home. For windows, for example, their ability to limit heat loss, the quality of their installation, and the orientation of the rooms are important. Large glazed areas can provide pleasant natural light but also require adequate sun protection in the summer.
When viewing modern buildings, ask for an explanation of how heating, cooling, and ventilation are integrated. Clarify what equipment is included in the price and what you will need to purchase and install after taking possession of the apartment. This information will help you estimate both the initial costs and the future maintenance of the systems.
The energy certificate and technical documentation provide a basis for a more accurate assessment of the building. The certificate contains information on the building’s energy characteristics and energy consumption class, and the Agency for Sustainable Energy Development publishes guidelines on how these are determined.
Actual energy consumption also depends on household habits. Working from home, preferred temperature, and the number of occupants all affect heating, cooling, and hot water needs. When purchasing, look for information on the specific home’s performance and compare it to how you plan to use it.
Also pay attention to equipment maintenance. Access for servicing, repair options, and preventive maintenance requirements will be important throughout the entire lifespan of the systems.
Property Depreciation: What Else Should You Consider When Buying?
In everyday language, real estate depreciation usually refers to the physical wear and tear of the building and its components. Here, we use the term in this sense, distinguishing it from accounting depreciation, which is governed by separate rules.
With a new building, you can plan maintenance from the very start of its operation. Information about the materials used, the equipment installed, and the applicable warranties allows you to determine the necessary care and maintenance schedules.
Different parts of the building have different needs. The elevator requires specialized maintenance, the roof and drainage systems require periodic inspections, and the flooring in common areas wears out depending on the level of use. To keep them in good condition, both the quality of construction and a timely response to the first signs of damage are important.
When selecting a project, ask who will organize these activities and where the building’s technical documentation will be stored. A clear division of responsibilities and accountability for the maintenance work performed is beneficial for all owners, especially in buildings with more shared facilities.
What Should You Know About Warranties?
Warranty periods apply to specific types of construction work and building components. They provide protection against defects covered by warranty liability. The minimum periods are set by law, and the specific contractual terms should be reviewed before purchasing the apartment.
Clarify who to report a defect to, what information you must provide, and who arranges the inspection. Regular preventive maintenance and routine building services must also be provided. These are separate from the repair of defects under warranty and are necessary for the normal operation of the facilities.
Why is maintenance worth considering even before the purchase?
Before purchasing, you assess the common areas based on the project plans, renderings, or the completed construction. After a few years, the condition of the entrance, stairwells, and common facilities depends largely on their regular maintenance.
A useful way to assess the developer’s approach is to visit one of their completed projects that has been occupied for some time. Pay attention to the flooring, entry doors, and landscaping, and, if possible, inquire about how maintenance is organized. Such a visit will give you a more concrete idea of how the company’s buildings are maintained after the first few years of use.
At BLD, we incorporate management and maintenance into our long-term work on completed projects through BLD Facility. When choosing a home, you can discuss with our team the services for that specific building and the terms under which they will be provided after the building is handed over.
When comparing maintenance fees, ask for detailed information about the services included. Cleaning, technical maintenance, security, and the upkeep of green spaces require different resources. Consider which amenities you’ll use and how much you’re willing to spend on their upkeep.
Let’s look at a hypothetical example: a difference of 60 euros per month between the maintenance fees for two homes amounts to 720 euros per year and 7,200 euros over ten years, assuming the fees remain unchanged. This calculation helps you assess the cost over a longer period and decide whether the additional services are worth the difference to you.
What factors keep people interested in real estate, whether for rent or sale?
When buying an apartment for personal use, the prospect of selling it in the future may seem distant. Still, it’s worth considering who the property would be suitable for if you later decide to move and sell or rent it out.
When choosing a home, the functional layout, access to transportation and amenities, and the condition of the building are of paramount importance. In some areas, guaranteed parking can be particularly valuable. The amount of recurring expenses also influences the decisions of prospective buyers and renters.
To assess the building’s location, consider the typical routes to work, school, and places for daily shopping. Distinguish between existing infrastructure and planned improvements that are yet to be implemented. This will give you a more accurate picture of the area’s convenience at the time of purchase.
If you’re considering renting out the property, compare the expected income with all the expenses you’ll incur as the owner. Vacancy periods, equipment replacements, and repairs reduce the amount of rent you actually receive. The apartment’s future appreciation also depends on market conditions and cannot be guaranteed simply because the building is new.
A well-chosen apartment can offer you more flexibility if your family or career plans change. How easily you can sell or rent it out will depend on its quality, the condition in which you maintain it, and the demand at that particular time.
How can you compare two offers in terms of future costs?
Start with the total amount needed to purchase each home and get it ready to move in. Include finishing touches, furnishings, and necessary parking. Then add the recurring expenses for which you have information, and note which amounts still need to be determined.
| What to Compare | What to Clarify |
|---|---|
| Price and level of completion | What is included in the price, and what additional costs will you incur before moving in? |
| Payment schedule | Can you stick to the payment schedule and maintain the necessary financial reserve? |
| Layout | Will the home remain comfortable as your family’s needs change? |
| Technical Specifications | What operating and maintenance costs are associated with the planned installations and equipment? |
| Common Areas | Who maintains them, what does the fee cover, and how are future repairs planned? |
| Future Sale or Rental | What kind of buyer or tenant would the apartment be suitable for? |
A comparison like this helps you focus your budget on the features that will matter most to you over the years. For one family, that might be an extra room; for another, convenient parking or the ability for children to walk to school.
Explore BLD’s projects and discuss your requirements for your future home with our team. Information about the floor plan, construction, and purchase terms will help you choose a home that fits your lifestyle and your budget for purchase, furnishing, and ongoing maintenance.
Frequently Asked Questions
Is buying a home early in the construction phase always more cost-effective?
An early purchase may offer a more favorable price or a wider selection of available homes. Your assessment should take into account the time until the building’s completion, the terms of the contract, and the costs incurred during the waiting period. Compare offers for apartments with the same level of completion and clearly described fixtures and fittings.
Can an installment payment plan with the developer be combined with a mortgage loan?
It is possible if the terms set by the developer and the bank allow for it. Clarify when the bank can disburse the funds and what portion of the price you must cover on your own until then. Clarify these issues before committing to the property’s payment schedule.
What should I check if the building offers many additional amenities?
Review the terms of use for the facilities, the costs of maintaining them, and how these costs are allocated among the owners. Also ask for information about funding for future repairs or equipment replacement. This way, you’ll know what ongoing financial commitments you’re taking on.
Does the physical wear and tear on the building necessarily mean a drop in the apartment’s market price?
The physical condition is one of the factors in property valuation. The price also depends on location, demand, and available listings. The building may deteriorate while prices in the area rise, but the necessary repairs remain an expense that a future buyer will factor in.
What features are most important when buying a home for long-term living?
Start with the building’s location, the apartment’s layout, its orientation, and ease of access, because the possibilities for changing these are limited. Next, consider the building’s construction quality and the maintenance arrangements. Furniture and decorative finishes can be replaced more easily if your preferences change.