
Building or buying a house: how to make the right decision
Whether building or buying a house is better depends on your preferences and the market situation. For a new build, you need a vacant plot of land, while buying a house depends on available properties. A real estate agent can help you find suitable options and weigh up the pros and cons.
New construction: design options and current standards
Those who opt for a new build have complete freedom, especially when it comes to design, and can customize their new home to suit their individual tastes. In addition, new builds meet current energy standards, which can lead to lower operating costs in the long term.
However, building a new home is often like running a marathon: from finding the right plot of land to planning and completion, it can take months or even years.
In addition, the initial costs for a new build are often underestimated. Builders not only have to budget for materials and construction work, but also for the purchase and development of the plot. Building regulations can also restrict the scope for individual design.
Conversion: savings through existing structures, but unpredictable costs
Those who decide to renovate have the great advantage that the basic structure of the building already exists. Renovating an existing property offers many cost advantages, as neither the purchase of a plot of land nor the construction of the basic structure is necessary.
However, older buildings can present unexpected challenges, such as renovating structural defects or adapting to modern energy standards. Hidden problems such as asbestos or outdated electrical systems can quickly lead to significant additional costs. In this case, adapting to existing conditions can also be more time-consuming and complex than expected, sometimes delaying the schedule.
Conclusion
A new build allows you to freely design the layout, use state-of-the-art technology and achieve high energy efficiency, but often requires a long construction phase and carries the risk of delays. Buying an existing property is usually quicker and cheaper, but offers less design freedom.
Ultimately, the right decision depends on what aspects are most important to you personally. An experienced real estate agent can provide valuable support in this decision. They know the market, have access to suitable plots of land and existing properties, and can help match the offer to your individual needs and budget. They will also provide you with expert advice on assessing costs, potential, and possible challenges so that you can make the best possible choice.
Are you looking to buy a property but don't know which option is best for you? Contact us – we will be happy to advise you!
Notes:
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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