Resale or new building: we buy an apartment for a family with a child

Perhaps the most common case when we refuse to rent an apartment in favor of buying it is the appearance of a child. And here an important question arises: resale or new building? Both of them have their pros and cons. Together with the star realtor Vadim Bogach, we will weigh everything and find out which option is right for you.

Probably the most important aspect that you should pay attention to is the infrastructure next to the object. Details are important: are there walking places for parents and children, especially for strollers, the presence of schools and kindergartens, clinics, and so on. If we talk about new buildings, we need to study what is planned for the improvement and development of this infrastructure.

New buildings at the excavation stage and the old housing stock are definitely not an option recommended by experts for a young family with a child. It is better to look for something in between new and old, or new, but already handed over and populated by 80-90%.

And yet, let’s take a closer look at the advantages and disadvantages of each of the options.

Of course, the main plus is that this is a completely new housing, where no one has lived before you. And this means that everything can be done to your liking, make any wishes for a further comfortable life from design to planning. It is also important that the entire infrastructure will also be new: good schools with fresh repairs, updated shops, playgrounds, beauty salons, landscaped areas, parks and more.

You will have to accept the fact that in new housing, whether you like it or not, you need to make repairs. And not only to you. Repair work in neighboring apartments can easily disturb the peace of the baby, for whom the regime is important. Also, the declared infrastructure may not be quite ready for your arrival, as well as the internal improvement of the house and even the appearance of the entrance group.

Welcome to a settled house where life is in full swing: families walk with children and go to a neighboring school or kindergarten, open to meeting new neighbors. No need to wait for the end of the construction of the house and, possibly, to make repairs in your apartment. In any case, the first time.

Yes, there is no need to do repairs, for the reason that someone already lived in the apartment before you. So, you will probably want to redo something for yourself sooner or later. It is also possible that not all the requirements for a comfortable life of the child will be taken into account in the old fund: the elevator should be spacious enough for a stroller, the yard should be comfortable for walking, and at school and kindergarten there should be a place for a new “resident”.

In fact, if we talk about the future, then the new building will definitely win. At the construction stage, you can buy housing much cheaper, and even by the deadline, the price will increase significantly and will not fall, unlike the secondary housing.

Many are concerned about the issue of repair, as there is an opinion that investing in a new building will be much more expensive than choosing an apartment already renovated in the secondary market. But if you have somewhere to survive the construction period, then the primary housing, even taking into account the repair work, will come out even more profitable. Since the majority of owners of secondaries will try to “recapture” the funds invested in the apartment – and it is far from always justified. And in a new apartment, you will know exactly what materials were used and how well the work was done.

And do not worry that because of the child you will not have the time and energy to deal with all the construction and design chores: there are many companies on the market that do turnkey repairs according to any of your wishes for any budget.

Many are also concerned about the issue of the budget, which is often limited due to the employment of only one family member. There will definitely be budget restrictions, and this is normal, however, a variety of mortgage programs, used wisely, can increase the criteria for choosing real estate at times.

Simple and understandable tips for finding an apartment from the star realtor Vadim Bogacha:

• Decide on the area. Study how convenient the location is for you and your child, as the distance from the place of work is also an important role for parents. Do not forget to evaluate the availability and quality of social infrastructure: schools, kindergartens, clinics, parks, etc. Many parents choose housing, initially relying precisely on how this or that school suits them, for example.

• Pay attention to the liquidity of the object and the prospects for its price growth: remember that very old objects, apart from those located in very prestigious areas, will not increase in price.

• Assess the ecological situation in the area: availability of parks, clean air, etc.

• Ask to organize a viewing during daylight hours in order to assess in detail all aspects of the house and the apartment itself.

• Study the contingent at home. Chat with neighbors and locals, appreciate how many families with children just walk on the playground. Someone else’s opinion will also help to create a more complete picture of the area / house and infrastructure.