What are the advantages of buying new real estate?

Acquiring a building, whether residential or rental, is a big investment. To get started, you need to have a certain amount of information. Thus, you are sufficiently informed so that your financial commitment is secure. In the field of real estate, two choices are available to you to acquire your property.

Either you take over an old building or you buy new. The first option will require injecting less money. However, additional charges may appear. The alternative is to make a new acquisition. This choice has many advantages. We invite you to discover in this post, the reasons why you should turn to new.

Advantages from the point of view of the standards in force

The most common way to buy a new house or apartment is off-plan. This is also what is referred to as a VEFA, namely Sale in a Future State of Completion. Indeed, it is a question of buying a property whose construction is not finished. In this case, you will need to be patient before enjoying your property.

Generally, between the reservation and the delivery of the keys, it can take a few months. However, a new real estate project in VEFA allows you to have a property that meets the latest energy standards and others.

Thermal regulations

The law provides provisions for the construction of new housing. Thus, if the building permit for the new building program was filed after January 1, 2013, this achievement is subject to the thermal standard RT 2012. Indeed, this provision includes certain aspects of the building.

These are building materials, airtightness, heating, domestic hot water and ventilation. The objective of these regulations is to limit the building’s energy needs. Thus, by respecting the various provisions, you fight against thermal bridges and at the same time guarantee an insulating envelope.

Acoustic regulations

For new buildings, the standards require minimal noise insulation. This obligation will be verified once the accommodation is finished. Speaking of noise pollution, the prefectures have a classification into five different categories of streets. For each row, a minimum insulation is recommended.

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If you are on a street that is in the first, the minimum requirement is 45 decibels. In addition, for individual dwellings, the standard concerns insulation from outside noise. On the other hand, in terraced houses or collective buildings, the insulation takes into account the partitions, the ceilings. Sound propagation should be kept to a minimum.

 »Disabled » regulations

The  »disabled » standards have undergone revisions over time. Since 2014, considerable efforts have been made to lighten this regulation. Thus, towards the end of 2015, a simpler version than the previous ones was born. One of the provisions of this standard is that the realization of any new program must provide for wheelchair accessibility.

However, the buyer of a new real estate program in VEFA can now modify the plans when it is possible to do so.

Parking spaces

In large cities, the problem of parking space arises regularly. However, buying new can solve this situation. In general, new constructions have a parking space, sometimes even two, for each apartment.

Estate Agent Shaking Hands With His Customer

Obtain reliable building guarantees for a new property purchase

A manufacturer’s warranty is a form of free insurance that covers certain components for products. Generally, it extends over a period of two years. It allows the repair in case the product is defective. It is a guarantee that takes into account materials, mechanical and electronic components.

In the field of new real estate, you will also be entitled to this guarantee. It is indeed a group of 3 covers that spans a period between one to ten years. Thus, you are reassured of the quality of your acquisition. In addition, by applying new real estate advice, you secure your investment.

Guarantee of perfect completion

The perfect completion guarantee is a cover that extends over one year. The duration of the guarantee is counted from the date of acceptance of the work. All contractors are required to comply with this legal provision. The scope of this warranty covers all malfunctions.

It may therefore be work that is poorly carried out or work that does not correspond to the purchaser’s order. On the other hand, damage related to the wear and tear of time or poor maintenance is not taken into account. With this guarantee, you have the assurance that the work delivered is of high quality. Otherwise, you can assert your rights against the entrepreneur for correction.

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Functionality guarantee

It is still known as the biennial guarantee. This coverage extends over a period of two years. Its scope concerns removable elements. In other words, are taken into account in this guarantee, the sanitary installations, the heaters, the doors, the intercom, the radiators, etc.

Thus, in the event of defective installations, it is the manufacturer’s responsibility to initiate repairs. On the other hand, as for the guarantee of perfect completion, the wear and tear of time is not taken into account. Also, in case of problems related to the non-compliant use of these devices, the manufacturer can withdraw.

Ten-year guarantee

This warranty is a legal provision which covers a period of ten years from the date of receipt. Indeed, any builder is liable for damage that may arise over a period of 10 years. This commitment is valid towards the building owner as well as towards the successive purchasers.

The scope of this provision covers all damage that compromises the solidity of the building or that renders it unfit for its intended purpose. In a simpler way, it is about all the defects such as cracks, infiltrations and problems related to the roof. As long as these various damages are not caused by the wear and tear of time, the responsibility of the manufacturer is engaged.

Reduction of notary fees

The acquisition costs include a set of taxes and fees collected by the notary on behalf of the central authority. This expense is unavoidable when you buy a house or a building. Whether it is a new or old acquisition, this consideration varies.

As part of an old property, these costs represent a proportion of 7 to 8% of the total value of the acquisition. On the other hand, for a new real estate project, you will only have to pay 2 to 3% of the total purchase amount of the property.

Let’s take the example of a property whose value is 300,000 euros. The notary fees for such an acquisition are respectively 21,000 euros for an old building and 7,500 euros for a new one. The difference is considerable. You can therefore make significant savings if you choose new.

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Property tax exemption

The legislation provides for a certain number of criteria for benefiting from an exemption from property tax. Thus, for new housing or property acquired off-plan, you will be entitled to a two-year cooling-off period. During this one, you will not have to pay the property tax.

The choice of new construction therefore also represents a considerable advantage in this respect compared to old constructions. Moreover, if in addition your new real estate program meets the criteria of the BBC label (Low Consumption Building), you can benefit from further tax reductions.

Indeed, many new real estate projects integrate this dimension of high energy performance during construction. Since January 2019, all real estate that meets these two criteria can benefit from the property tax exemption.

This exemption can be partial or total. So, you can benefit between 50% and 100% for each part of the property tax. In addition, for housing that meets these two conditions, the two exemption mechanisms can be combined.

You will therefore have a period of approximately 5 years during which you will not have to pay property taxes. With regard to high energy performance, the recommended minimum is the BBC 2005 label. In addition, to benefit from this reduction, the owner must contact the tax authorities and provide proof of compliance with the criteria.

A new real estate financing file is more attractive

Most home buyers use mortgages. If you do not have a large financial envelope, you are obliged to find solutions with financial institutions such as banks.

Thus, for a new real estate project, banks are more open to offering a loan. Indeed, gender issues have major assets that facilitate negotiations. These are the different warranties that cover new constructions.

Even in the event of bankruptcy of the promoter, the financial guarantee of perfect completion reassures that the project will be completed. In addition, property damage insurance is a guarantee for the bank to obtain property in perfect condition in the event of a payment default.

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