Investing in real estate is an important step that many people aspire to. Buying your own home gives the buyer the opportunity to choose the location, exposure and floor plan of the apartment where they want to live.
Among the benefits of owning your own home are the freedom to decorate and remodel without having to comply with a landlord's requirements, and the elimination of the obligation of paying rent.
Before buying a home, several factors should be taken into account: price, location of the property, proximity to public transport stops, communicability of the neighbourhood and others. Among the dilemmas that many buyers face is what type of construction the purchased apartment should be.
In this article, you'll find out more about the advantages that new construction apartments offer and why they may be the right choice for you.
Benefits of buying a new build apartment
The real estate market is one of the most interesting and dynamic sectors of the economy. More and more people are choosing the security and convenience of owning their own home.
In recent years there has been a growing interest in new build apartments, which are becoming an increasingly popular choice for buyers and investors. There are several reasons for this. This type of housing is designed and built using the latest technologies and modern materials, which guarantees high quality, energy efficiency and modern design. However, these are not the only advantages of new construction apartments.
Easier financing
If your savings are not enough to buy the apartment you want, but you have a stable good income, you can use a pay-as-you-go or bank loan.
Before you settle on a home, you should research the banks' lending policies. Bear in mind that the loan may depend on the type of building the property is in - you may be offered better finance if you are buying a new-build apartment. Some banks offer lending terms with lower interest rates when it comes to buying new build properties.
Contemporary design and innovative technology
Strong competition in the real estate market is driving developers to offer more modern and comfortable homes and to invest in better and more innovative technologies in the construction of buildings. These improve the building and its durability, while modern design allows more efficient use of available space.
Additional amenities such as swimming pools and fitness centres enhance the quality of life and attract potential tenants or buyers. This increases the value of the property in the long term.
Lower renovation costs
Another advantage of buying a new construction condo is the lower maintenance and repair costs. Since everything in the home is brand new, you are less likely to run into problems or need immediate repairs. This is also due to the fact that this type of construction is built with high-quality materials and is subject to strict standards, investor controls and regulations.
Security guarantee
Owning a brand new home provides you with security in two aspects. The first is that the risk of burglary by thieves is reduced thanks to modern security technology and the high-quality materials that are used.
The chances of finding lodgers are higher if you offer a new and clean home than one in an old panel block. If your goal is to rent out the apartment, this will give you financial security.
Higher energy efficiency
One of the main advantages of new build apartments is that they are highly energy efficient. They are designed to reduce heating, cooling and electricity costs. This helps to limit the carbon footprint of the building, which is essential for protecting the environment.
Modern and well-maintained common areas
It is common practice to have common areas in new co-ops maintained by outside specialist cleaning companies. This ensures that they are kept clean and tidy to ensure maximum comfort for the residents.
Parking spaces
One of the main downsides of living in big cities like Sofia is the lack of enough available parking spaces. However, in many newly built residential complexes, the opportunity to buy or rent a parking space is available. This facilitates the daily life of the owner, providing additional convenience and security.
A sustainable investment for the future
Real estate is always a good investment especially if it is located in developing areas with good infrastructure and easy access to public transport, educational institutions and shopping facilities. Buying an apartment in a newly built condominium in such neighbourhoods will increase its cost in the future, and its price will be higher when eventually sold.
In conclusion, if you have decided to buy a new-build apartment, it is important to research the market and consider what you would not compromise on in your choice. Housing in new co-operatives has many advantages. These include high quality building materials, energy efficiency, modern design, well-maintained common areas and additional amenities. These factors make buying a new-build apartment an attractive choice both for living and as a good investment in the future.
If you want to find the perfect apartment for you, don't hesitate to contact us. Our main goal is to build modern, functional and high quality residential projects. Take a look at our projects and contact us to help you choose your dream home.