Buying Old or New: Which is the Best Choice for You?
In the world of real estate, a common question arises: is it better to invest in an old property or a new construction? This crucial decision for any buyer depends on several factors: budget, location, comfort, and life plans. Let’s explore the advantages and constraints of each option to help you make an informed choice.
Advantages of Buying Old Properties
Charm and Authenticity
Old real estate is known for its unique character. Moldings, fireplaces, hardwood floors, and exposed stone facades give these properties an authenticity that modern constructions cannot replicate. This timeless charm particularly appeals to history enthusiasts and buyers who appreciate the soul of a place.
Central Location
Old properties are often found in historic neighborhoods or right in the heart of cities. Their proximity to shops, schools, public transport, and other amenities is a significant advantage for city dwellers seeking a practical and vibrant lifestyle.
Attractive Prices
In terms of price per square meter, old properties are often less expensive than new ones, although renovations may be necessary. Furthermore, it is easier to negotiate the price of an old property, especially if it requires refurbishment.
Potential for Appreciation After Renovations
Buying an old property allows for renovations to personalize the home and potentially increase its value. These improvements can significantly enhance the property's marketability and value.
Advantages of Buying New Properties
Modern Comfort
New properties offer unparalleled comfort: optimized layouts, modern finishes, elevators, secure parking, and sometimes even connected equipment. Developers design these homes to meet the expectations of today’s buyers.
Energy Savings
In compliance with current energy standards (RT2012, RE2020), new constructions guarantee reduced energy consumption. This results in lower utility bills and a smaller ecological footprint.
Tax Benefits and Guarantees
Purchasing a new property allows you to benefit from reduced notary fees (2 to 3% compared to 7 to 8% for old properties). Additionally, first-time buyers can access a zero-interest loan (PTZ) to help finance part of their purchase. The builder’s guarantees, such as the 10-year warranty, protect the buyer against defects for 10 years.
Minimal or No Renovations Required
Buying new provides peace of mind: no immediate repairs or surprises. Properties are delivered brand new and ready to move in, which is ideal for those who want to settle without delay.
Limitations and Constraints to Consider
Old: Sometimes Expensive Renovations
While old properties are often cheaper to purchase, they may require significant renovations: electrical systems, plumbing, insulation. These additional costs should be anticipated.
New: Higher Initial Cost
The price per square meter of new properties is often higher than that of old ones. Furthermore, purchasing off-plan (VEFA) means waiting between signing the contract and the delivery of the property.
Old: Higher Additional Costs
In addition to higher notary fees, maintenance or condominium fees may be higher in older buildings.
New: Location Often More Outlying
New constructions are often located on the outskirts of cities, far from historic centers and densely populated areas. This may be a drawback for city dwellers
How to Choose Based on Your Profile?
First-time Buyers or Young Couples
With a limited budget and priorities focused on comfort and taxes, a new property is often an ideal choice.
Rental Investors
To optimize rental returns, an old property, often better located and at an attractive price, remains a reliable option.
Families Seeking Quality of Life
Families looking for space and modern amenities will likely prefer a new property.
Renovation Enthusiasts
Buyers who are passionate about renovation and want to add their personal touch to a home will opt for an old property.
What is the Best Choice for You?
Buying old or new is a strategic decision that primarily depends on your personal priorities and long-term ambitions. However, it is essential to deconstruct some preconceived ideas: new properties are not necessarily more expensive than old ones. By considering the reduced additional costs, energy savings from optimal energy performance, and the numerous tax advantages they offer, new real estate can be a financially advantageous choice. With reduced notary fees, reassuring builder’s guarantees, and no unexpected repairs, new properties offer ideal budget control and peace of mind. If you aspire to a home that combines modernity, comfort, and tranquility, new properties should be seriously considered as a viable option.