Should we buy new or old housing?
FEB 12. 2019 | PROPOSED BY OUR PARTNER ING LUXEMBOURG
The question is relevant. Old homes usually cost less and the difference is often significant! According to a STATEC report published in February 2018, an apartment under construction is on average between 25% and 30% more expensive than an existing apartment on a comparable surface. But if the pecuniary aspect pleads in favor of the old, the new one also has strengths to assert.
Before comparing the advantages of one and the other, it is first necessary to define what is a new home.
Contrary to what one might think, a new home does not necessarily mean that it has never been inhabited. What sets it apart from the old is he has a guarantee. This is the ten-year guarantee (or ten-year liability) of construction that covers any newly built or renovated property, for a period of ten years from the end of the work. This guarantee is passed from one purchaser to another in the event of sale.
This means that a property will retain the name of nine even if it has already been inhabited as long as it is covered by the ten-year guarantee. After 10 years, the property is considered old.
New housing: covered, flexible and more energy efficient
The first stems from what has been explained in the previous paragraph, namely the ten-year guarantee . This decennial protection of builders takes into account the shell, walls, frames, stairs, pipes and ceilings. By extension, it can also cover all major renovation or development work. By buying a new home, you are certain, except in case of cataclysm or lack of maintenance, that there will be no major work to provide as long as it is covered by the ten-year guarantee.
In addition to being able to live in a housing in perfect condition, buying a property before construction offers you the opportunity to create your home to your taste , especially in terms of finishing. You can choose your tile, paint in your different rooms or the layout of your bathroom.
Another advantage and not least: you have the assurance of acquiring a property that is not only technologically and technologically advanced but also energy-efficient . Indeed, since 1 January 2017, all new buildings in Luxembourg must meet the energy standard of a passive house, a near-zero energy consumption. In the case of an old dwelling, the seller is not obliged to carry out work that makes the property less energy-consuming . These costs will be incumbent upon you who have purchased the property knowingly.
The old housing: cheaper, available and more charming
The first advantage of old housing is undoubtedly the price . A property will cost less, all acquisition costs included, including notarized. Depending on the location, the price of housing fluctuates according to the demand and supply is greater than in the new one with nearly two out of three sales. That being said, this advantageous price must be qualified because, in many cases, renovation or conversion work is necessary. While there are financial incentives to renovate your home, these are not always easy to obtain.
The second benefit is availability . If you want to live in the city center or close to amenities or infrastructure such as schools, supermarkets or administrative services, you increase your chances of finding housing that meets these criteria by focusing on old properties. In addition, once the real estate sale is completed, you can move into your home immediately. This is not the case in new housing where you must in most cases buy off plan and are faced with sometimes significant waiting times.
Old dwellings generally have more charm . They often benefit from a larger area and include architectural and decorative features that you do not find in most new buildings: old wooden floors, high ceilings with moldings, fireplaces ... If you prefer old stones to home automation and ultra-modern building materials, you will be satisfied in Luxembourg, because the beautiful traditional style houses in very good condition are not lacking
So, nine or old? It all depends on your budget, your schedule and your tastes. Buying an old home is often done on a crush (however, keep a cool head and do not go headlong without having estimated the cost of the work required!). On the other hand, if your main criterion in the choice of a housing is its functional character, the new housing is done for you, but you will have to put the price there.
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