Apartment in an old building or in a new construction, what to buy? What are the advantages and disadvantages of new constructions, and what about old buildings? How much does the renovation of an old apartment cost? Are apartments in new constructions of higher quality, or “they don’t make them like they used to”? How are the paperwork procedures resolved for old apartments compared to new ones?
Buying an apartment in an old or new building? This question has become relevant in the last few decades since private investors started building residential buildings of lower quality. There have been many bad experiences, even in US, such as some apartments being sold twice or being sold during construction and never finished.
Fortunately, such cases no longer exist today, but doubts about quality remain. Some advocate the theory that buildings used to be built more solidly, while today private investors aim to save by skimping on material quality. Others argue that “new is new,” whereas old buildings, although well-made, always have some problems.
Materials and Technology
As usual, the truth is somewhere in between. In the past, especially for buildings erected before World War II, different materials were used. Walls were made of brick and were half a meter thick. Everything was more massive, creating an impression of higher quality. Today, different materials are used; walls are thinner, but special thermal and sound-insulating materials are employed.
Therefore, one should not expect an old building with thicker walls to be warmer in winter and cooler in summer, as construction technology has advanced significantly since then. Also, regarding the stability and earthquake resistance of buildings, new constructions are much more reliable.
Inspecting New Constructions
Where private investors might cut costs, potentially causing issues, are savings on finishing and craftsmanship work. Here, the goal is to minimize expenses, using cheap joinery, flooring, ceramics, etc. This can undermine the quality of the building, but when it comes to these details, old buildings do not have an advantage either.
After several decades, all these elements are often already worn out or replaced, and the question is how well they were replaced.
Advantages of New Constructions
Therefore, if buying an apartment in a new construction or even an old building, it’s wise to thoroughly check the quality of the final works. Buying an apartment might be a once-in-a-lifetime decision, so it’s important to be vigilant, bring along a knowledgeable friend, and consult with a real estate agency. If a new construction meets satisfactory standards, it has a significant advantage over old buildings.
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There is no need for additional investments in changing pipes, electrical installations, or flooring. New constructions usually come with PVC or aluminium windows, which are generally of satisfactory quality and provide excellent insulation and noise protection. Additionally, apartments in new constructions are designed and executed according to modern standards, making them more functional and aesthetically contemporary.
Location Benefits of Old Buildings
This does not mean that apartments in older buildings lack advantages. Considering very old buildings, they are usually located in the city center, which is highly desirable for many. Buildings constructed during the 1980s are typically high-quality and situated in well-planned neighborhoods with ample parking, green belts shielding from the streets, and sufficient playgrounds.
Potential Issues with Old Buildings
Such neighborhoods are well-planned, so parking is not a problem, for now. On the other hand, a nice new apartment in a new building might be located in a six-story building on a small plot, only to find out after purchase that the building exits directly onto the street, the nearest park is three blocks away, and finding a parking spot takes about fifteen minutes.
With old buildings, apartment renovation is usually always necessary. Therefore, when buying, one must account for this cost and the fact that unexpected expenses often arise during renovations.
Risks Associated with Old Buildings
When it comes to old apartments, buying small apartments and studios is generally the most cost-effective. The savings are significant because the low apartment price and smaller renovation costs ultimately make a difference compared to buying a new apartment. Investing in an apartment in an old building carries additional risks.
Even if you renovate your apartment perfectly, the building is still old, and it’s uncertain if this will cause new problems later. An outdated elevator, a leaking roof—these are some expenses that may require collective decision-making with other residents and potential shared costs. It’s not enough that you renovated your bathroom if the building’s pipes are old and you end up with water damage from a neighbor above.
Paperwork and Legalities
Regarding paperwork, both new and old apartments have their pros and cons. With new buildings, especially smaller ones in prime locations, there’s always doubt about the legality of the structure. Old apartments carry historical burdens, ownership questions, inheritance issues, complicating paperwork.
A good real estate agency can be your best partner in these matters, as the topic is too complex for someone without experience.