When it is best to buy an apartment in a new building?

It is a fairly common situation when people collect the necessary amount for acquiring housing for a long time, deny themselves expensive things, limit themselves in everything, but anyway cannot save money. And when they turn to the developer, it turns out that the apartments have risen in price during this time, and there are only dark corner apartments among the possible options that no one wants to buy.

The problem described above is exactly related to the fact that people do not understand when it is better to buy an apartment. And many of them are also convinced that there are two ways to buy the housing: by collecting the entire amount or by taking out a mortgage at the bank. But in fact, this is a fundamentally wrong approach, because there is still a third option – to buy in instalments from the developer. Instalment makes it possible to buy a home on credit without interest with a minimum down payment. This is not only convenient for those who do not have the entire amount on hand, but also profitable, because an apartment can be found and purchased at the stage of the foundation pit. In the early stages of construction, there is always plenty to choose from, and prices are the lowest then.  

Is it worth buying an apartment now?

Many prospective buyers wonder, whether it is worth buying real estate these days. Anyone wants to buy an apartment on the most favourable terms for themselves. These are:

• minimum prices for square meters of housing;
• a large selection of apartments so that you can find real estate in the desired area and with a good layout;
• no the sellers but you can impose your conditions.

Considering all these conditions, this year is a perfect time to buy a home. It is the right time for buying, primarily because of the low apartment prices. After the crisis, the cost of housing gradually declined. Experts predict further price fluctuations, but most of them are unanimous: in 2021, the cost of housing is close to minimum values.

We can safely say that now it is much easier to buy an apartment than to sell it. The number of new buildings is only increasing, so developers and sellers of the secondary real estate market are literally fighting for every buyer. This makes it possible for the buyers to dictate their terms. For example, you can choose several suitable apartment options, estimate their value and make offers to the owners. Thus, you can buy an apartment at a low price.

If you buy housing in a new building, then a great advantage of buying it this year is that there are a huge number of options for apartments with different layouts and locations. This means that you can buy the perfect home for yourself, on top it off – at an adequate price.

With all this in mind, if we consider the question of whether to buy real estate now, the answer is a firm yes. Besides, an agreement can be concluded even if you don’t have the entire amount, because there are many developers offering apartments in instalments. There are doubtless advantages of buying a home by instalments:

• in the early stages, the developer sets the minimum prices for the apartment;
• an opportunity to purchase residential real estate without the entire amount on hand;
• buying in instalments, you do not have to pay interest, as on a mortgage;
• the risks are minimal, because the buyer makes a small down payment (about 10%);
• no additional documents are required, as a standard contract is concluded.

RIEL Real Estate Corporation offer good terms of payment for apartments by instalments. The Corporation has been engaged in the construction of residential buildings and the sale of modern apartments in Kyiv and Lviv since 2003. RIEL is a reliable company with an impeccable reputation, helping all clients and always acting in their best interests

What season should be chosen to buy an apartment in a new building?

Among other issues, it is also relevant in which season it is better to buy an apartment. Not everyone understands this, but the real estate market has a seasonality. In other words, market conditions are highly dependent on the season. Let's analyse the nuances of buying a home at different times of the year.

Buying an apartment in winter

Winter is a difficult time for the secondary real estate market. This is primarily due to the fact that neither sellers nor buyers want to organize the move in the winter, on the eve of the holidays. At the same time, due to frost and snow, apartment demonstrations become problematic, and it is not always possible to fully assess it. Because of these and many other complexities, contracts are usually postponed until the spring, so in winter, the secondary market actually freezes.

As far as primary real estate market is concerned, the situation is substantially different. Since there are few options in the secondary market, most buyers are gradually start to pay attention to new buildings. All the more, many developers hold promotions and offer discounts for the holidays. For example, on New Year's Eve, it is quite possible to find an apartment in a new building with a big discount. Therefore, winter is a great time to buy a home in a new building.

Acquisition of real estate in spring

Spring is a rather controversial time of the year when it comes to the situation on the real estate market, although many experts call spring the best time to buy a home. On the one hand, this is true, because many sellers are coming out of their "hibernation", and the market is literally overflowing with all kinds of offers. At the same time, the demand for residential real estate is growing, because many buyers have collected some more money over the winter and are ready for major purchases. Due to such activity in the market, real estate prices are growing. Buyers should not rely on discounts and the opportunity to purchase an apartment at the lowest price.

Buying an apartment in summer

One of the features of buying an apartment in summer is the lack of a large number of offers on the secondary market. Many sellers go on vacations, and they just have no time to show their apartments. At the same time, housing prices usually fall after the spring activity in the real estate market.

But summer is a great time to buy a home from a developer. Most developers start building in the spring, but many buyers are afraid to invest in the excavation stage. It is for such buyers that summer is the optimal time of the year for buying an apartment in a new building, because there was not enough time for prices for square meters to grow significantly and it is already possible to observe which developers are engaged in active constructing.

Pros and cons of buying a home in the fall

In autumn, as well as in spring, the secondary real estate market revives again, there is a large number of offers. Buyers are also busy with looking for housing options, many are even ready to overpay a little, but nevertheless to buy the apartment they liked.

If we consider the which season is best for buying an apartment on the secondary market, this is, of course, spring and autumn. If we talk about buying apartments from developers, you should not be bent on the season. You just have to find a good option and invest.

Expert advice on buying apartments

1. Do not be afraid to buy apartments in instalments. This is a great alternative to a mortgage. With this method of buying, you cannot only buy housing without having the entire amount on hand at once, but also save a lot.
2. To buy an apartment in a new house at a discount, try to look for the holidays options. Usually, many developers time promotions and real sales to coincide with the New Year, March 8, Youth Day and other holidays.
3. Don't wait for a perfect time for buying an apartment in 2021. The perfect time will never come, therefore it is better to invest now, especially because the situation on the real estate market is quite favourable, and we have no idea what it will be in a year or two.
4. If you want to buy an apartment in a new building at the lowest price, conclude a contract at the beginning of construction. Remember that apartments are cheaper at the excavation stage, and over time, prices will only rise.
5. When buying an apartment in early construction stages, choose a developer carefully. Read the reviews about it, check in the Register if he has declared bankrupt, see the number of houses already built and still under construction.