Buying at the excavation stage in Netanya – call us now and we will find the best options for you!
Buying at the excavation stage in Netanya – call us now and we will find the best options for you!
Buying a new property, whether it is an apartment for living, or an investment for renting and resale, is one of the most serious decisions in life.
In Israel, due to very high housing prices and the constant rise in real estate prices, this issue is particularly acute.
Buying real estate in Netanya
Naturally, the demand and real estate prices are higher in major cities in Israel, located closer to the center of the country.
One of the most promising cities for buying real estate is Netanya.
This large city is located just 30 minutes from Tel Aviv. Netanya – the largest resort in Israel, which is annually visited by hundreds of thousands of tourists from around the world. Both locals and foreigners are interested in buying housing here, as the “potential” of real estate in Netanya is very large.
Buying housing at the excavation stage
Without a doubt, buying real estate at the construction stage can save a significant amount of money. Buying an apartment in the initial stages of construction of a residential building can save up to 10-20% of the cost of housing ready for entry.
The most profitable to buy housing, of course, at the excavation stage, when the construction of the object has just begun. This is beneficial to both the future owner of the apartment and the developer. One gets an apartment much cheaper, and the second reduces its own costs, risks and the need to apply for a loan to the bank.
Advantages of buying at the excavation stage
Buying housing at the excavation stage has a number of undeniable advantages. Among them we can separately emphasize the following:
Cost
This is the biggest plus of buying an unfinished object. The price of apartments at an early stage of construction can be lower by 20% than the finished apartment.
Interior finishing
As a rule, when you buy an apartment in a new building, you can choose the interior decoration materials such as tiles, doors, kitchen furniture and so on. If you plan to live in the apartment – you can choose higher quality materials.
If the apartment will be rented out or resold after construction is completed, there is no point in overpaying.
Changing the layout
Often you can agree directly with the builder to change the layout of the apartment. You can change the location of toilets, outlets and doorways.
Less red tape
Since the apartment under construction has not had other owners before, the number of necessary checks is significantly reduced. You do not need to check whether there are any utility debts from the previous owner or whether the property is under arrest. In addition, you are protected from fraudulent scheme, when the apartment is sold to several people at once.
Disadvantages of buying at the excavation stage
But of course, in the purchase of real estate at the excavation stage there are вisadvantages:
Long construction periods
Buying housing in a house under construction, you will not be able to immediately start earning on it, renting it out, or live in it yourself. The construction may drag on for a whole year, and all this time the apartment will be unavailable to you.
Risks
Buying housing at the excavation stage is associated with quite high risks. Half a blessing if the developer will delay the delivery date of the object, but he may also go bankrupt. In this case, the buyer may be left without housing and lose money.
In order to avoid such difficulties, it is necessary to have a good broker, who will learn all about the reputation of the developer, will assess the risks of investment, and will tell you how to insure your money, so as not to stay run out of money.
What should be considered when buying housing under construction?
Before buying a home in a house under construction, you need to consider a lot of factors to make your purchase profitable and pleasant.
Check the property developer
As mentioned above, before buying an apartment at such an early stage, you need to minimize your own risks as much as possible, and check the property developer thoroughly.
A good broker in Netanya will not only find you great deals at the excavation stage, but will also quickly find out everything about the reputation of the developer, assess the risks of the investment, and advise you how to insure your money.
In addition, he will negotiate the penalties imposed in case of delay in commissioning the building, thoroughly examine all documents, and do everything to ensure that you are not left without money.
Find out all the information about the property
You need to clarify the following factors:
- availability of the house plan and building permit
- terms of registration of ownership rights
- possibility of payment in installments
- work schedule
- building construction time
- etc.
If you have a real estate broker, he will also handle all this.
Get to know the neighborhood
When choosing housing, you need to look carefully at the neighborhood in which it is built. New neighborhoods are usually more expensive, but the neighborhood is often more pleasant. If the city development plan indicates that the neighborhood is being prepared for renovation of the housing stock or development, the price of your apartment in a few years may increase almost 2 times. At the same time, in a bad neighborhood, the growth of the price of real estate is unlikely to be so rapid.
Settle all issues with the bank
If you took out a loan to buy a home, it is necessary to find out exactly all the details of repayments:
- the timing of repayment of parts of the loan
- date of deposit
- interest rate
- etc.
These issues in Israel is engaged in a credit counselor. He will help you save a large amount of money and “knock out” of the bank the best possible terms of the loan.
Conclusion
Buying an apartment at any stage of construction – this is a very complex and serious legal issue. Given the prices of real estate in Israel, it is always necessary to solve it with special care.
Very active and mobile real estate market in Israel is growing every day. The growing demand for the purchase of apartments in the excavation stage, expands the space for fraud.
Therefore, if you decide to buy housing at the excavation stage in Netanya, contact the experts who will help you protect your investment and buy a really high quality housing from a reliable developer.
Call us right now, and mf pick up for you the object and help with registration!
