What to look for when buying real estate from the primary market?
Buying real estate from the primary market is a serious and costly undertaking. Making one of the most important decisions in life is not easy and requires taking into account many factors. So what should be taken into account when deciding to purchase real estate from a developer?
Real estate from the primary market - developer verification
There are many development companies on the Polish market with more or less attractive offers. A buyer who knows exactly what he is looking for should first look for a developer whose offers suit him in terms of content and price. It is extremely important to obtain information on, inter alia, the experience of a given company and the projects it has implemented, the developer's financial standing and the legal status of the investment. A developer must first of all have a building permit and land management rights. You should ask for the presentation of these documents - possibly for the number of the land and mortgage register, in order to check the legal situation on your own.
Property from the primary market - location
Location is one of the key factors in purchasing satisfaction. It should be tailored to the needs and current possibilities of the buyer, as well as to the destination of the property - depending on whether it is to meet individual housing needs or is intended for rent. Nevertheless, the attractiveness of the location is influenced, among others, by issues related to the safety of the area, the presence of green recreational areas, access to public transport stops and infrastructure. In this context, spatial development plans in the future are also of great importance - for example, it may turn out that in a few years a busy street will be built here, which will generate a lot of noise.
Property from the primary market - layout of rooms
The layout and number of rooms, as well as the location of windows in relation to the directions of the world, have a huge impact on the comfort of all household members. Each tenant should feel comfortable in the apartment and be provided with privacy. It is worth bearing in mind the specific preferences when it comes to the amount of sunlight entering the interior during the day. The optimal solution is a flat with windows facing south-west - it provides a lot of natural light in the afternoon. For comparison, e.g. windows facing east are a good option for people who like the most light in the morning.
Property from the primary market - storey
The floor on which the apartment is located is another important issue that must be considered when buying real estate from the primary market. The ground floor or the first floor pose a greater risk of burglary and theft. The top storeys, on the other hand, are likely to be damaged by heavy rainfall. The higher floor may be a problem for people with small children or planning to enlarge a family, as well as for elderly or disabled tenants - it is necessary to check if the building has an elevator and other facilities for people in wheelchairs.
Primary market real estate - when to buy it?
Primary market properties are sold during construction or even before construction begins. Attractive offers are very popular, so it pays to keep your finger on the pulse and monitor the situation on an ongoing basis. By far the best option is to buy an existing property, because you can view it and see for yourself if it meets certain requirements. However, the medal has the other side - the earlier the investment stage, the cheaper flats are usually. The closer to the end of construction, the higher the prices of the premises. Here is a very important question that must be asked of the developer: when will it be possible to pick up the keys to the apartment? However, it is always necessary to take into account unforeseen difficulties that may delay the transfer of ownership of the premises to the buyer.
Real estate from the primary market - what contract?
The following types of contracts are associated with the purchase of real estate from the primary market: reservation, preliminary, development and sale contracts. A reservation agreement in which the buyer wishes to purchase the property precedes a preliminary and development agreement. As the name suggests, its purpose is to reserve a given property. Preliminary and developer agreements are already more binding, but the development agreement must be in the form of a notarial deed. The sales contract, however, is concluded at the notary's office after the completion of the investment and acceptance of the premises confirmed by an appropriate protocol. It results in the transfer of ownership rights from the developer to the buyer, who becomes the legal owner of the property upon signing it.
It is not advisable to be in a hurry when deciding whether to purchase real estate from the primary market. It is worth comparing the offers of different developers, making appropriate calculations and considering the method of financing the purchase.