Prospective home buyers, in Chania or anywhere else, are often in a dilemma whether it would be better to buy a plot of land where they will build the house they want or a ready-made house.
For many, acquiring a home is a life dream that comes true after a lot of effort and effort, while for others it is an investment that will either help increase their capital or improve their quality of life. Therefore the decision that one will make must be carefully studied and ensure that it will not go out of budget, bringing him the maximum possible benefit.
Buying a House
Buying ready-made house advantages:
Knows the cost from the beginning: Advertisements for the sale of real estate are published daily, announcing the price. This means that the prospective buyer knows from the outset the amount he will have to pay and by looking closely at the property he can easily assess whether he will need extra expenses to make it live up to his expectations.
“Turnkey”: A phrase that states that the new owner avoids any inconvenience (building permit, construction, time delays) and can after the sale reside or use the property (either renting it and receiving a monthly passive income, or operating it as a business, for example, Airbnb, in Chania, the opportunities are inexhaustible, once the seller has settled all the documents of the property, the transaction takes place in a short period of time, avoiding the vicious circle of bureaucracy, saving time and money.
Opportunities in real estate that needs renovation: In this case, the buyer chooses a property that is not in good condition (needs renovation) because he finds it at a lower sale price or bargain price and assumes the cost of reconstruction and renovation, bringing the property to the condition he wants. In this way he controls the investment according to his budget and acquires a property commensurate with his expectations.
Buying a ready-made house – disadvantages
Restriction on configuration: The house is not designed by the prospective buyer, so there will definitely be some parts of the house that he probably will not like and he would build them himself differently. Sometimes it is quite difficult to shape it to its own criteria because the resulting costs are quite high or changes are not possible due to restrictions on building conditions.
Quality of construction: The buyer has no way of controlling the quality of the materials used in the construction of the building or even if there are defects that are not visible at first glance and will require additional costs and inconvenience when they need to be corrected.
Construction of a home
Housing construction – advantages
Creation of real estate according to the buyer: An important criterion for many property buyers is the ability to create the home they want and not to compromise with something that has not been built based on their needs and desires. We all have in mind the “home of our dreams” and when the time comes to make the dream come true the fewer compromises one has to make the closer one gets to one’s “dream”. It should also be taken into account that whoever decides to build his house from the beginning has full control over the quality of construction of the property.
Newly constructed building: In a newly built house there are no problems in the short term, so maintenance costs are lower. The value of a newly built, quality home is higher and therefore faster and easier to resell when needed. In addition, if the landlord wants to rent it, the rent may be higher than for properties of the same size but older.
Cost: A well-priced plot is an opportunity to build one’s house at a lower cost than buying a ready-made house of a similar area in the same area. This difference arises from the contractor’s profit saved by the owner who will choose the construction solution. Of course, it varies, depending on the area, the plot and its morphology as well as the quality of the construction.
Housing construction-disadvantages:
Cost and time: There may be delays or even more than the expected costs because usually the one who decides to build (many times for the first time) his own house does not have the experience and does not know the time it may take to manage the bureaucracy required by the issuance of the building permit, the collection of the necessary documents as well as the completion of the project.
Long waiting period: From the period of granting a loan until the completion of the construction of the project, the completion time is long. The coveted moment of stepping on the doorstep of a new home can take a long time. So the buyer will be in a long waiting period.
Atlas Services
At Atlas Properties we have the know-how, experience and professionalism always focusing on the needs of our customers. This sets us apart in the market. We will guide you and help you find the most suitable property for you. In our company you will find a set of services that will give you immediate and effective solutions.
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