Other advantages of older constructions may include:
- High ceilings
- Good location or location with good infrastructure
- Lower taxes
However, the downsides should not be overlooked. The most significant disadvantage is that such properties usually require significant renovation. Brokers may neglect these costs in their enthusiasm to close a deal, but in reality, such repairs can be expensive and time-consuming. Other common disadvantages may include:
- Lack of adjacent parking spaces
- No elevator
- Urgent need for roof repairs
- Poor condition of common areas (which may also affect future liquidity)
- Low energy efficiency
- Small windows
Regarding new constructions, the primary theoretical advantages (we say theoretical because some products on the market have dismal quality) include:
- New construction technologies and high-quality materials. Regarding materials, we recommend being aware and requesting certificates and declarations of compliance from the builder. A little online research will show what class of materials was used. Even if you don’t have time for such an investigation, the fact that the builder is willing to provide such information speaks for itself. When executed correctly, new technologies can be a significant advantage, such as hydro-isolation in bathrooms.
- A sustainable investment. While older constructions, especially large-panel and prefabricated constructions, tend to decrease in property value for some buildings, quality new constructions do not carry this risk.
- Good energy efficiency
- Better-maintained common areas
- Quality guarantee
The most common downsides of new constructions include:
- High prices – often due to unnecessarily large common areas, resulting from short-sighted design or investor decisions.
- Absurd interior layouts – over the years, we have seen a lot of madness, from transitional rooms to sanitary facilities, to poorly planned internal geometry and unnecessary parasitic square footage.
- Small and low ceiling adjacent spaces – very small bedrooms, basic bathrooms the size of a small closet, lack of storage space.
- Poor or missing infrastructure.
- Noisy finishing works – if you are one of the first buyers in a new building, we have some bad news for you. It’s better not to plan a lot of work in the form of a “home office.” You’ll likely face years of bumps and noise from your neighbors’ finishing work. Apartments are sold at different paces, and their completion by their owners happens at a completely different schedules. Either way, these works are inevitable – it’s best to keep that in mind and plan in advance.
Before you fall in love with a property, the first step is to go on property viewings. However, there are several tricks to be aware of:
- Property viewings are often conducted by brokers, and it’s important to be wary of manipulative tactics such as “Three other clients are interested, one of them will buy it tomorrow, so you better hurry.” While such situations may occasionally be genuine, more often than not they are just forms of manipulation.
- If the building has space for a billboard or other advertising, it’s a plus, not for its appearance, but because it means a certain amount is added to the monthly common fund of the condominium, which accumulates and helps with future repairs to the roof or common areas.
- In new buildings, spacious common areas often mean a smaller net square footage for the property you’re looking at. Make sure to ask about the net floor area of the apartment to know exactly what you’re buying.
- For older buildings, don’t overlook the appearance of the common areas. If they look tragically neglected, it likely means that no one is taking care of them, and there is no cohesion among the condominium owners, with certain units refusing to pay for common area expenses. When it comes time for roof repairs, you’ll have a serious problem.
- Take a look at the roof, or even have a professional inspect it for you. We’ve seen roofs that are only 5-6 years old and yet in terrible condition. Yes, roofs can be repaired, but it`s costly and is a good idea to know what to expect when making a decision to purchase a property.
- Familiarize yourself with the property’s orientation and which direction the windows face.
- Southern exposure is the most preferred. It provides maximum natural light during the day. In the summer, the sun is high, providing direct light without overheating the room. In the winter, the lower position of the sun allows light to penetrate deep into the room, which not only feels pleasant but also leads to lower electricity and heating bills.
- Eastern exposure offers more morning light, quickly warming the room, while the bedrooms remain cooler in the second half of the day, making them more suitable for restful sleep. Eastern exposure is the second most preferred orientation.
- There are differing opinions regarding west-facing apartments. It is true that the setting sun can heat up these apartments significantly and create a heavier atmosphere, but modern double-glazed windows designed for such facades can filter out the negative effects to a great extent. Additionally, the benefit of having daylight present in your home during the hours you can enjoy it (after work or school) remains.
- North-facing apartments are typically not allowed to have windows only with north exposure, except in certain cases such as artist studios. As a rule, north-facing apartments offer only indirect light, making them darker and colder, but they are suitable for computer work or watching television during the day.
- View – it’s only natural that everyone would prefer a home with a view over one that looks directly at a neighbor’s facade. As an additional benefit, having a good view can not only enhance the comfort of the home but also its value.
- When considering an older building, make sure to check the electrical panel. If it has old fuses, like the ones in the picture below, it’s best to plan for a complete replacement of the electrical installation.
- Turn on the water in the kitchen and bathroom sinks – first cold, then hot. If the pressure is weak and the hot water comes slowly, this likely indicates clogged pipes, which could lead to replacement costs.
- Check the radiators and the connecting pipes. If they are old, we recommend replacing them before any other repairs. If left as is, there is a risk of them bursting and causing damage to newly renovated surfaces. Unfortunately, replacing vertical pipes is also connected with repairs in neighboring apartments, so it’s best to investigate this issue thoroughly and talk with the neighbors.
- Carefully inspect the windows – replacing them is a significant expense and a major renovation. Check whether they close tightly, whether the mechanisms work properly, and whether all the seals around the double-glazed windows are in place and with the correct length. After that, you can test whether the windows let air through by using an aromatic stick. Simply light the stick and hold it close to the window frame – if the flame flickers, this could indicate a draft. With good windows, the smoke column should go straight up to the ceiling. However, if there is any draft, the smoke will sway and disperse. You can also test this simply with a lighter. If the flame stays still, there is no draft. If it flickers and wavers, there is a draft. The only issue is that with some lighters, this movement can be caused by the lighter’s mechanism itself.
- Take a closer look at the window sills from both inside and outside. Typically, the first signs of a problem appear at the corners of the windows, where the issue begins at the external angle of the window sill, where rainwater doesn’t drain well and is absorbed into the wall.
- Walk around the apartment with your phone and charger and test the outlets. You’d be surprised how often seemingly flawless outlets don’t actually work.
- Interior geometry – if you come across a home with a lot of bumps, curves, or uneven walls, keep in mind that this could limit your choices or / and increase expenses when it comes to interior design.
- Check for leaks – carefully inspect for stains on the ceilings and walls. Even if someone tells you that something is old, be wary. Examine all walls that border the kitchen and bathroom carefully. If there are swollen plaster walls, the situation is not good.
- Open and carefully inspect all access panels. First, check if the valves have been changed. If you see old, stained, rusted, or damaged brackets and pipes, the answer is no, nothing was replaced recently and most likely you will have to do it. Look at the water meters – what is their condition and do they have seals?
Sometimes, even if you find all of the above-mentioned negatives in a property, it may still be worth purchasing due to its excellent location, price, view, or layout. However, it is essential to identify all defects beforehand so you can plan for the financial costs of addressing them, and who knows, you may be able to use them as additional arguments during price negotiations.