This is a question that many future buyers ask themselves in their search.
What are the main advantages of the two formulas?
The advantages of Existing
1) The character
Older homes often have more charm, a more pronounced architecture. The presence of old features such as mouldings, fireplaces or old parquet are elements of style. New properties are certainly more functional but they are also more impersonal.
2) A quick move in
Unlike new ones, you can move into an existing property right away..
3) The price
The purchase prices of old ones are lower than the new ones. In addition, only the registration fee of 12.5% will be paid. Finally, the planned work often allows for greater negotiation.
4) The projection
For example, It is possible to visit the existing property and to project more easily than during a purchase off-plan. It is also easier to be aware of the neighbourhood, the conduct of the condominium, etc.
The advantages of the New
1) The latest construction standards
The acoustic and thermal insulation standards that developers must respect are constantly improving. The energy performance of new buildings is therefore better than in existence..
2) Lower common charges
The standards listed above have the effect of reducing the expenses of a new building.
3) The ten-year guarantee
The “builders”, contractors, architects, subcontractors but also other potential stakeholders in the construction or realization of real estate work (including pre-construction work, such as stability or resistance tests) accept, where appropriate side by side, a specific responsibility, additional to the responsibility incumbent upon any provider of paid services: the ten-year “guarantee”.
The customer (named “owner”) can complain about all the defects and demand a “repair” (replacement, repair, compensation, etc.). The ten-year guarantee begins at the reception-approval of the works, that is to say from the moment when the work having been delivered to the customer, the latter is able to inspect it and to note certain defects.
4) Breyne Act
Following multiple bankruptcies of entrepreneurs or real estate developers, several potential buyers lost their savings by paying the price of a dwelling off-plan or a building not yet completed. In July 1971, a law was passed by Minister Breyne to protect these purchasers. This law protects purchasers with respect to the transfer of ownership, the payment of the price, the guarantee of completion of the work and the receipt of the building.
5) The choice of development
One of the advantages of the new purchase is the possibility to choose the finishes (tiles, parquet, kitchen, etc.) and to intervene in the traffic at the beginning of the sale.
6) The functionality
New properties are designed from the moment they are designed for the current needs of their occupants which often makes them more functional.