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How to choose the right apartment in a new building

Apartments in new buildings are very popular. The reasons are explainable:

However, you should not forget about the possible pitfalls. SafeSpace offers you not only storage services but also helpful tips how you can buy a new apartment and avoid unpleasant mistakes.

How to choose the house and the builder

It depends primarily on the right choice of the builder and building if you are satisfied with a new apartment. When choosing the house consider the following:

Having decided what kind of apartment you need go to the selection of the builder. The best way to avoid mistakes is to collect as much information as you can: the number of built and successfully completed (without complaints from the owners) objects; the history of the company on the market; whether it has all permissions, agreements with other companies, etc.

How to choose the real estate broker

The next step is to find the right real estate broker.

1.    You can buy a flat directly from the developer. Sometimes, it may be more beneficial due to lower prices for the houses of economy class.

2.    You can go to a real estate agency. The price of the apartment will be higher due to the commission costs; however your broker will be in charge of the most legal documents. In addition, you will save your time because you will be offered the most convenient options suitable to your requirements. Moreover, the real estate agency can contribute to a mortgage loan that is rarely offered by developers.

The choice depends on your wishes, financial possibilities, time permitting and many other conditions.

The contract for real estate purchase

Another important step is signing the contract. And again, you have to choose one of the options: participation in the funding of construction, prepaid agreement, share contribution, etc.

100% advanced payment should make you think twice before buying the apartment from this builder because agreement of this kind does not provide any guarantees. Finally you may get your money back, at best.

One of the most reliable options is an agreement on share participation in housing construction. In addition, you should carefully read any agreement and consult a lawyer if you buy an apartment right from the builder.

How to protect yourself from unscrupulous developers

Even if you carefully choose the builder, consult an expert and take into account other details, there is still a possibility that the facility will not be handed over on time.

Thats why developers and real estate experts recommend to issue an insurance policy that will protect you until the house is put in commission, especially as the insurance market offers reasonable prices. In addition, experts strongly advise not to be afraid to apply to the courts in case of failure to meet the deadline or even building halt.

The last step

Well, the house has been already built, put in commission and you are looking forward to moving in. But dont be so impatient you should wait for the approval of all issues between the developer and authorities. The process may be delayed for a period from six months to three years. By the way, when choosing the builder find out how fast was the paperwork for the final stage at other objects of the company. Have you sold your old apartment to pay for a new one and you need to store your things somewhere? Its easy we offer you self storage services in SafeSpace.  

Then the commissioning of the completed facility and property registration is followed. You can either entrust it to the third party company (real estate agency, builder, etc.) or do everything by yourself. But before you sign any documents (primarily, the act of acceptance) and proceed to the property registration, make sure that the apartment corresponds to what was stated in the contract. If you have a claim you can always require the developer to eliminate them within a reasonable time or to pay you compensation (reduce the cost of the apartment).

It is convenient and beneficial to buy an apartment in a new building. To make the process more pleasant you should carefully control everything, from the choice of the developer to the acceptance of the apartment.

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