Published on 06/21/2020
When you want to buy a house, you should know that you have the choice between new and old properties. Older properties are less expensive, but renovation costs are quite high. However, new real estate is ready to use, but it may not suit you in terms of style. It is therefore possible to wonder what works best between new and old properties.
To dispose of a new or old property in a relatively short time, you need to use the services of a property hunter. It helps you find what you are looking for. However, the choice of properties will depend on your personal preferences in terms of character and ambience.
Indeed, new properties comply with the new rules regarding sound and heat insulation and plumbing. In addition, they are accessible to people with reduced mobility. The positive point concerns the duration of the lease, which can last more than two years.
As for old goods, they have the advantage of being convenient. Indeed, they are most often close to schools, shops, etc. You won't need to take the metro or car for your quick errands. These properties have character, charm and are ideal for you if you like atypical places. Better, the duration of signature lasts about 3 months at most. This promotes rapid acquisition and development.
The acquisition of a new property requires a higher budget than that of an old property. It will cost you 15% or even 20% more. However, taxation is very interesting. In addition, notary prices are equivalent to approximately 3% of the value of your property. The advantage is that you can be exempted from paying property taxes over a period of two years depending on the end of the work. Also, in the long term, you make real savings on your heating.
To buy old properties, you do not need to have a fortune. The possibility is also given to your real estate hunter to negotiate a reduction of more than €14,000 from the asking price. However, do not forget that you will have to make renovations during the following years. Also, taxation is not so interesting, unless you invest in tax exemption law (click here to knowing). In addition, you will need to provide approximately 8% of the purchase price for the notary.
When you buy a new property, you benefit from a warranty against hidden defects. This means that in the event of problems with your property, you can receive a guarantee. However, this defect must not be stated anywhere else in the contract. You also get a completion guarantee. Also, you have a guarantee of proper functioning, this lasts two years and concerns malfunctions.
In addition, you have a guarantee to cover damage to sturdiness or damage to the cleanliness of your property. This lasts for a decade. To do this, you need to take out property damage insurance.
As regards old properties, you are made aware of the actual condition of your property. You have an idea of the price of condominium fees. Thus, your property must meet all the criteria set out in the contract. Otherwise, you benefit from a guarantee against hidden defects.
Each of these properties has both advantages and disadvantages. The choice of your property depends on your requirements and your budget. You need to study the question carefully and contact a good property hunter to guide you.
Parisearch is a real estate agency in Paris.
Connected 24 hours a day to the market and its network, it responds to all requests for research or sales of real estate in Paris and the Ile-de-France.
Its objective is to accompany its customers in the realization of their project of life by securing their step and by allowing them to reach rare goods (off-market) which will make their happiness and will answer perfectly their criteria.