Buying an apartment or building a house?

Almost all of us need our own corner where we can implement our plans, make our dreams come true and develop our skills or interests. Such a place should be a house or apartment, which is a private asylum, to which we will return after a hard day. If you want to invest your savings in real estate, it is necessary to weigh all the pros and cons to be sure of your choice.

What questions arise most often from people who do not yet have experience with the real estate industry? First of all, it is a matter of what is more profitable and comfortable – building a house or an apartment in a block of flats, apartment buildings or tenement houses. It is worth remembering that the real estate market is extremely liquid, new investments are constantly appearing and residential buildings or premises change their value. When thinking about the future, you should weigh all the pros and cons.

Building a house vs. buying an apartment: costs 2019

In order to assess the cost of buying an apartment and its profitability, it is necessary to compare the developer and secondary market in a specific area. Investors often tempt by offering apartments in buildings that are only in the planning or construction phase, providing potential customers with very attractive prices – lower than in the case of premises from the secondary market. Although it is a risky purchase, many people decide on such an apartment, because the purchase conditions are very promising.

So: building a house or buying an apartment? The first option can be much more complicated, because in the first place you need to buy land, design, obtain permits, invest in materials and hire professionals. The next step is to organize everything, which is sure to take a huge amount of energy and time.

For example: A 100 m2 apartment in Lublin costs about PLN 400-600 thousand. The plot in the suburbs alone, with a size of about 1000 m2, is a purchase worth about PLN 200 thousand. Adding to this the costs of building a house, the prices are extremely similar.

Secondary or developer market?

New apartments in new buildings encourage with their appearance. The very vision of living in a given place as the first tenant can be unique, but it is necessary to think about what traps await us. The same is true of the choice between building a house on your own and buying an existing facility. Many people decide to buy a property from the secondary market, because when comparing prices and locations, they tend to be more satisfactory.

A house can be built quickly and well, but you have to take into account a one-time expense of a large sum of money. First of all, you need to buy all the materials almost at once and secondly, only a professional team of specialists will ensure that deadlines are met and the right pace of work is met.

However, when betting on the secondary market, there is a problem. Sellers often hide the defects of buildings or apartments, masking them in a makeshift way or not informing about the occurrence of certain situations. So it may turn out that although the premises look satisfactory, it will be necessary to replace the plumbing and electrical installations or renovate the roof. These are very expensive repairs that automatically reduce the value of the property by drastic amounts. By buying an apartment in a developer’s standard or building a house yourself, you avoid such risks, being sure that everything is new and ready for tenants to move in.

Taking into account the pace of change and expansion of large cities, it is difficult to find a clear answer to the question of house or apartment. However, 2019 is a great time to make a decision, as an increase in inflation can quickly increase the value of real estate. Remember that it will be much easier for you to rent or sell an apartment in the city center, so if you treat it as an investment for the future, an apartment will be a better idea. However, if you want to settle down with your family in a comfortable place, a house in the suburbs will be perfect.

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