1. Establish a budget
A purchase in the former often forces the buyer to an estimate of work and renovation costs that are additional to the value of the property. To establish an investment budget in the new, it will take into account the sales price including tax and various acquisition costs (reduced notary fees, registration fees and bank fees) representing 2 to 3% of the price.
Obtaining a mortgage on the best terms and the cost of credit over the long term encourage buyers to compete with several financial institutions.
In the context of new programs, various choices of interior design and decoration are often proposed but if you want to customize your home beyond the offer of the promoter, some additional costs are to be included in your budget.
On the other hand, the acquisition of a new property benefits from support mechanisms (Pinel law for rental investment, loan at rate 0) subject to means test and the amount of which varies according to the location of the future housing. This state aid often helps to partially finance the project.
Among the advantages of buying in a new program, a few others will have an impact on your overall budget. For example, a partial or total exemption from property tax during the two years following the completion of the works or notary fees from 3 to 4 times lower than for an acquisition in the former.
2. Find the perfect home
Imagine in a housing not yet built which we see only the plan and some photos can be difficult.
In the absence of visits, the advice and support of a team specializing in the commercialization of new housing will be welcome. Barnes, an international reference in real estate, simultaneously manages several programs that meet demanding criteria in terms of location, architecture and services. Barnes employees put their technical, legal and commercial expertise at your service, accompanying you from end to end in your real estate project, from the study of the plans to enable you to make the appropriate choices.
3. Reserve your accommodation
Once you have identified the new housing that interests you, it will be time to conclude with the real estate developer the reservation contract. Attestant of the presale, this document presents in detail all the characteristics of the reserved property and its price as well as the deadline envisaged for the signature of the definitive sale contract and of course, the date of delivery of the housing.
At the signing of the booking contract, the buyer pays the deposit whose maximum value can not exceed 5% of the value of the property purchased.
4. Sign the final deed of sale
Between the booking and the signing of the final sales contract, it usually takes three to six months. The deed of Sale in the Future State of Completion (VEFA) will be signed before a notary in the presence of the promoter. It must detail all the characteristics of the housing, the information relating to the mortgage and the guarantee of completion of the works. The contract also includes a schedule of payments.
In the acquisition of a new property, the buyer pays according to the successive stages of construction: phases of completion of foundations, carcass work, roofs, windows. The last deadline is when the accommodation is delivered.
5. Reception of housing
Even if the visit of the building site is not allowed, most promoters organize a visit after the installation of the internal partitions. This is an opportunity for buyers to control the conformity of works with the bill of sale. It is also at this moment that it will be necessary to emit any reservations if you perceive defects. The contractor will then be required to make the necessary corrections.
Note that several warranties protect purchasers even in case of finding after the delivery of housing. The guarantee of perfect completion on hidden defects runs on the year following the delivery of the keys. The biennial warranty runs for two years and concerns dismountable structural elements such as outlets, boilers or radiators. Lastly, the ten-year guarantee covers possible defects relating to structural work during the ten years following delivery.
Barnes Programs New selects with the greatest care the high-end real estate projects of which it is partner in all France, do not hesitate to ask for information in our real estate agency in Biarritz.
From the technical and commercial analysis of a real estate project to the signing of the definitive deed of sale, our consultants have for mission to support you so that your investment is a success.