Buying an apartment: advantages and disadvantages
Buying a home is serious business. Especially if you plan to take out a mortgage loan for it. How to make the right choice? Where is it better to look for an apartment – in the primary or in the secondary market? It should be noted that both of these options have their advantages and disadvantages.
On the one hand, if you decide to buy an apartment in installments in a house under construction, then there is a chance to buy it cheaper than on the secondary market, while the building has not yet been commissioned. At the same time, you will receive housing of increased comfort, with new communications and a more convenient layout. In addition, preferential mortgage programs are provided for such housing.
On the other hand, apartments on the secondary market can be in excellent technical condition, since such objects include housing that was put into operation, say, five to seven years ago, but now its owners, for family reasons, are looking for more spacious apartments or, on the contrary, they want to leave. So the quality of construction and the price of the object are determined in each case and depend on many factors.
The disadvantage of an apartment in the primary market is a high level of risk, because if the construction of the house has not yet been completed, there are no guarantees that even the most decent and responsible developer will complete it due to the situation in the economy in general and in the construction market in particular. The disadvantage of objects on the secondary market is that, firstly, they are less liquid, and secondly, not every bank gives a mortgage loan for them. And finally, they need additional verification of the legal purity of the transaction. So the choice in each case depends on the priorities of the buyer and his willingness to take risks.
