Investing in new or existing properties

Investing in new or old?


Are you ready to start buying a house or an apartment, but you don't know if it's better to choose a new or an old property? We give you some information that will help you make your choice according to different criteria.

What's the difference between old and new?

As soon as the dwellings are resold and have been used, they are considered to be old dwellings. Even if you invest in an apartment that is only one year old but has already been occupied, it will be considered old housing.

The difference is quite significant because old or new housing is not subject to the same rights . Older real estate is administered through transfer duties. On the other hand, new housing is transferred by Véfa (Sale in the future state of completion) or as a completed property. The main advantage of buying a new property is that you save on notary fees. You can also claim tax benefits thanks to certain laws.

The influence is also felt on mortgages . To compare the different possibilities, do not hesitate to run credit simulations to find the best rates to obtain optimal conditions to finance your purchase. What are the elements you need to focus on to make the right choice?

Choosing between a warm atmosphere or great comfort

The main differences between new and old properties lie in the atmosphere of the dwellings. Buyers who opt for the old are often very attentive to the atmosphere and to the authenticity of the buildings who have lived. They like noble materials and traditional architecture.

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When choosing a new home, it is often not the same. Modern architecture focuses more on practicality, good heat and sound insulation, but also on the space available. New homes are often less warm in appearance, but it is also a guarantee to be warmer in the truest sense of the word! With more insulating materials and high-performance techniques The new building is an opportunity to control energy costs more easily.

The geographical position of your home

With older homes, you will be more likely to live in a town centre or village centre. The offer in the old is very diverse, both in terms of surface area and budget. You thus benefit from a public transport network and nearby shops . And before buying, you can visit the area where the property is located to see if you like the atmosphere of the neighbourhood.

By favouring new housing, you will find offers located more outside the towns or villages. But it is also possible to find lofts or small semi-detached houses built on rehabilitated former industrial wastelands. You can move around the premises, but you won't be able to see the life of the future district... . Also think about checking that future construction projects will not make the neighbourhood less attractive. These include the proximity of a future airport, a motorway exit or the construction of new industries.

The evolution of buildings and the technicality of materials

The choice of an old house offers a certain limit to the evolution of your home. Indeed, some walls will not be able to be transformed. The plans of old dwellings are based on different lifestyles in our time. Changes will be more difficult . In addition, materials in older buildings do not have the same insulating properties or resistance to mould problems.

With new homes, you will have to wait to see the final rendering. But it is possible to to change the plans of your home with the construction. And with modern construction, you benefit from larger spaces that are optimised for practicality. Also check that your home meets insulation and energy consumption standards.

Financing your property

Depending on your choice between old and new, there are variations between the different fees and benefits available to you.

State levies and notary's emoluments

For your old home, the notary fees are as follows between 8 and 10 % of the purchase price . They include a part intended to honour the taxes levied for the State and the emoluments reserved for the notary.

The notary fees related to the purchase of a new building are less important. They include between 2 and 3 % of the purchase price . It is important to know that you have the possibility to negotiate the fees directly with your notary.

Tax and financial advantages

If you choose to live in an old house, it is difficult to benefit from state aid. For this, you will have to invest in renovation and energy improvement work. Also check that you can claim a loan at rate 0 % (PTZ) if the envelope of your work reaches at least 25 % of the total price of the building.

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New housing is more advantaged with the possibility of taking advantage of the benefits of the Pinel Law, the PTZ or the exemption from property tax.

Energy expenditure and future work

In order to decide whether you want to buy an old or new home, you need to measure the work that needs to be done in the coming years. With a new home, you can estimate that you have little investment to make during the first 5 years. If you can, take part in the general meetings in order to assess the work that will need to be funded (façade renovation, replacement of certain parts of a collective heating system or a lift...). It is important not to overlook the attractive price of an old building, as it may require a huge budget for refurbishment.

With new, you will reduce your heating bills thanks to more insulating materials. It retains heat and is heated with much more efficient appliances.

Weigh the pros and cons to make the right choice between new or old real estate! With this information, you will be able to select the property which corresponds to your budget and your desires!

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