If you are thinking of buying a property in 2020, consider your options. This is not a situation where “cheap is expensive” or “new is better”; Rather, it is taking it easy and choosing between these three options: new, used or pre-sale. A real estate agent like La Haus can advise you to find your ideal home.
Consider this if you are looking for a new home
- Structure: You have the luxury of acquiring a property that will not have damage due to use and will be new from its foundations.
- Price: 20% more expensive
- Location: They are usually in central areas
- Style: You will have to look for a property that suits your tastes; as there is no previous owner and you will have more options to find something that suits you.
- Maintenance level: You will not need to give it a lot of maintenance, at least, in the first 5-10 years. It must be in optimal conditions at the time of delivery, this detail must be included in the purchase-sale contract.
- Amenities and services: New developments generally have this plus. In a new home, you can see how the common areas work before you buy.
- Maintenance fee: When we talk about a new house or apartment, especially in condominiums, the maintenance fee can be raised, if they have amenities. The payment of the monthly fee can be from 1,500 to 5,500.
Did you see a used property that you liked? Continue reading
- Structure: With the passage of time its resistant foundations continue; its structures remain in good condition despite earthquakes and other natural or demographic phenomena. Keep in mind that it may need renovations in the near future.
- Price: Used houses often offer a better price. With a house that is 20 years old or more, you have the possibility to negotiate the price, since they usually need renovations.
- Location: you can get a house in the neighbourhoods surrounding the most fashionable ones. This will give you peace of mind without being far from central areas. Also, you can usually get a better price.
- Size: Used houses tend to be larger than new ones. Its dimensions can be 30% larger than the new ones.
- Style: You will have to adapt to the style of the house and set aside a budget to fix it if necessary. Period houses have a certain charm, as they are no longer easily found.
- Maintenance level: Classic buildings usually need remodelling; make sure these expenses do not exceed 10% of the value it. The savings from buying a used home are not worth going to maintenance.
- Amenities and services: Usually they do not have amenities and services, but they tend to be in central areas with easy access to shops that offer different services.
- Maintenance fee: As there are no amenities, the old complexes have lower fees.
The advantages and disadvantages of buying a property in presale
- Structure: In addition to being 100% new, you can decorate and build it according to your needs and your taste.
- Price: Its price is 15-20% cheaper than a finished work. But, it can hurt you in the delivery time, especially if you buy from the beginning of the construction.
- Location: These developments are located in the middle of the downtown area or on the banks to have good access to roads.
- Size: You have the possibility to choose the size for a lower price.
- Style: You can choose the finishes (floors, doors, closets and personalized details).
- Maintenance level: You will always be aware of how the construction is going. Being in whitework you can fix all the details you want.
- Amenities and services: Although almost all developments have amenities and services, in the case of pre-sale you can always purchase an extra parking space or cellar.
- Maintenance fee: They usually exist, but remember that it is a plus that you have and that it contributes to your lifestyle. Long term
Buying a home in pre-sale means that the project is in the process of construction or has not begun to build, so you have until the delivery date to pay the total money of the down payment. That is, if you want to buy a property but do not have enough money, you can choose a pre-sale with a long down payment term.
If you choose a property that is delivered in grey work, you have the freedom to choose the finishes and furniture of spaces such as the kitchen and bathroom.
In case you want to make any modification to the home layout (for example, have a study instead of a third bedroom or have a kitchen open to the social area), some developers offer you the option to negotiate it.
The commercial value of a house or apartment in presale tends to increase considerably until its delivery date. According to Coldwell Banker, in the last ten years, the capital gain has tripled the value of the properties in CDMX, presenting an increase of 12.9% during 2018. For this reason, investing in real estate in the Mexican capital is an excellent investment.
The developers offer the properties in pre-sale to have sufficient financial resources for the work. This is why they offer homes at a much cheaper price compared to new properties for immediate delivery. Once the property is handed over to you, its commercial value will have increased significantly and added to that the capital gains it gains over time. Not bad, huh?
Ease of rent
Buying a home in pre-sale is an excellent idea if you want to rent the property. People tend to prefer new homes when renting, thanks to their modern designs and good layout. In addition, they do not want to have to deal with making modifications or adjustments considering that it is a rented property.
In all three cases, it is essential to review the legal status of the property. At La Haus, ALL the properties that are available have been verified, and we accompany you throughout the process of your purchase to help you find what you are looking for and what you need.