Considered as a safe investment, the purchase of a new property should not be done lightly. You must review certain elements in order to secure your investment. In this article, you will find some criteria to take into account when buying your new home.
Buying a new home: compliance with construction standards
Before you sign for a new apartment, you should make at least one site visit to inspect the location of the property. This will allow you to explore the area and get a feel for the atmosphere in the neighborhood. It is even advisable to make several visits at different times of the week, day and night. This will allow you to know in advance if there is a nightclub nearby, for example. During your visits, you should pay particular attention to the elements of the property. The buyer has certain rights. You can therefore ask for the invoices for the work done in the context of a new program. This will allow you to ensure that the construction standards in force are respected. It is recommended that you seek the services of a professional to help you verify all the points.
New real estate program: make sure the developer is reliable
To be sure of the quality of the construction and the completion of the work within the set timeframe, you must examine the credibility of the developer. For example, you can check its financial capacity. He must also provide you with a completion guarantee. This guarantee must be intrinsic. In this case, an insurance company or a bank will be able to ensure the completion of the construction. You can also check the developer’s past achievements. This will allow you to meet other buyers and get their opinion on the reliability of the developer. For the financing of your future apartment, you should also check the existence of a possible clause defining the conditions for obtaining a real estate loan. In this case, you must make sure that the promoter has not added any mention that could penalize you.
Study the environment and analyze the construction projects
When you plan to rent out your property after it has been purchased, it is necessary to assess the environment and to take note of the projects. This will allow you to know if the apartments in your new housing program will increase in value in the near future. Proximity to parks, shops, schools and public transportation adds value to real estate programs. You can ask neighbors about the neighborhood’s atmosphere. Also, you should go to the city hall to consult the local urban plan (PLU) and the land use plan (POS). This will allow you to find out about planned development projects or ongoing construction projects around the new property program.
When you plan to add a special touch to your home, you should also be aware of the urban planning regulations. With the help of a professional, you should also calculate the surface areas to verify that they correspond to the data provided by the property developer. The “Carrez law” surface area and the living area are very important in the context of a project to purchase a real estate program. Do not rely on a single real estate ad. You should consult several ads to discover other new real estate programs in order to choose the one that best meets your requirements.
Check all the points in the reservation contract for the new program
Before buying a new apartment, you should carefully study the reservation contract. The technical notice gives precise information on the equipment and materials to be included in the apartment. The developers of the real estate programs will not be obliged to install any equipment for which the technical notice does not provide sufficient details. Certain constraints may force them to renounce the installation of such equipment. You must therefore identify them and assess their importance. You should also check the architectural plan of the dwelling point by point.
In the case of new real estate programs, the reservation contract also defines the schedule to be followed for the progressive financing of the housing. The promoters require a guarantee deposit. This amount should not exceed 5% of the value of the property, 35% if the payment is made after the completion of the foundations, 95% after the completion of the works. The rest is paid to the developer upon delivery. You should therefore check these points. In addition, the delivery period of a new home is important for the buyer. You must check all the elements of each room again, taking into account the technical manual, and test the electrical outlets. It is important to inspect the walls, the roof, the facades, the ceilings, the framework, the floors and many others. You must also make sure that the ecological standards are respected.