Existing construction or new construction?

You are planning to buy your own home. Will you go for existing construction or opt for new construction? A newly built home is almost maintenance-free for a long time, it meets current standards and can be finished completely to your own taste. But perhaps an existing house has more character. And is it in a more atmospheric neighborhood, with more amenities….

Every homebuyer will have to weigh the pros and cons for themselves. It can help to make a list of these advantages and disadvantages and to weigh them against each other. Of course we can also help you with this sometimes difficult choice when you are orientating on a new home.

Existing construction New construction

Buying existing construction

Advantages of existing construction

Location | Supply is located in established neighborhoods, often with sufficient amenities within walking distance, such as schools, shopping, healthcare and public transportation.
Size and layout | Existing homes often have larger living areas and more spacious layouts than new construction.
Garden design | If you love an outdoor space, at least you already have a landscaped garden. Newly built homes often do not yet have greenery, let alone gardens. Furthermore, you will have to take into account that dust can blow through the streets.
Completion time | The time between purchase and transfer of the house is relatively short with existing construction. After all, the house is already there, so you can move in immediately after the transfer.

Disadvantages of existing construction

Additional purchase costs | It is up to you to pay the so-called “buyer’s costs. Think of the costs of the valuation, the purchase broker, the transfer tax and any architectural inspection. These costs cannot be co-financed in your mortgage and you will have to pay them with your own money.
Lower energy label | With older homes, chances are they are not yet optimally insulated. Perhaps there is less efficient heating system or the windows need replacing. That can add up significantly in monthly housing costs.
Maintenance | Kitchens, bathrooms often need to be renovated or replaced. You have to consider additional costs and a temporary internal move. In addition, due to age, there is often wear and tear on the home, such as damage to the roof, walls or floors. This can lead to additional costs not previously anticipated.
Warranties | You often have lesser warranties on construction quality and amenities, as you do when you buy a new home. This can lead to unexpected costs if problems or defects come to light.

Questions? Feel free to contact us New construction

Buying a new home

Benefits new construction

Price free on name | A new home is bought “free on name. For example, you pay no real estate agency fees or transfer tax. However, you will still have to pay costs such as construction interest Construction interest is the interest that relates to the period before the deed of sale is signed. This interest is often included in the purchase/construction agreement and is part of the purchase price. This interest is not eligible for deduction.
Energy consumption | Newly built homes meet the latest requirements for insulation and energy conservation. In many cases they are energy neutral or at least very low in consumption.
Amenities | Modern kitchens and bathrooms are not only immediately furnished to your liking, they will, at least in the short term, hardly incur any costs when it comes to maintenance and renovation.
Quality | When you buy, you often get guarantees on construction quality and completion, giving you greater assurance that you won’t face unexpected costs.
Value development | Once you have fully furnished the home, it is often already worth more than what you bought it for.

Disadvantages new construction

Completion | No final completion date is known. When you can actually move in can be affected by external circumstances. Between the time you sign the purchase agreement and the actual delivery can sometimes take a long time.
Double charges | In some cases, it can take up to a year and a half to complete your new home. During that time, you have to deal with double charges: the mortgage or rent from your old house must continue to be paid while also incurring expenses during the construction of your new home. Consider the interest and repayment on the mortgage for your new home. You can take care of this double burden in several ways. We will help you find the most sensible solution.
Patience | Your patience will be tested. In addition to the contractor’s efforts, you will have to make a lot of decisions yourself. Which kitchen do you want, where do you want additional outlets? When is the best time to start fencing? Would you like to involve your neighbors in this?

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