Apartments on the green- advantages and disadvantages

The main reason why most people decide to buy a property green is that they do not have to pay the full amount at the time of signing the contract. Buying a property on green has its advantages and disadvantages. In this article, you will learn more about what they are.

Advantages of buying a flat on green.

• Low selling price.

Properties that sell green are more profitable than others on the market. These types of projects have a lower selling price, firstly because it is incomplete and thus the client does not acquire the property ready to move in, but has to wait for the stipulated construction period.

The more reliable the investor is over time, the less risks there are in buying such a home, while keeping the overall value lower.

• Lack of choice.

The advantage of buying a property under construction is the choice you are given as a buyer. When you are looking for a home in an already constructed building, you will have a hard time finding what you are looking for. A greenfield property deal gives you the opportunity to choose almost everything in your future home, including making some specific changes to the home.

• Purchasing a property on the green.

When making a transaction for this type of property, the customer pays upfront but in stages its value.  The first payment is usually made when signing a preliminary contract, and subsequent payments even more facilitated.

• Saving on finishing works.

When purchasing this type of property, you have the option to arrange  the builder and any finishing repairs that are required for you to feel comfortable in your home. This will certainly save you certain costs, and you will only be required to furnish the property according to your personal preferences and taste.

Disadvantages that green flats have.

• Risk of the building being unfinished.

It is rare, but this drawback should still not be overlooked.When entering into a contract for the purchase of a greenfield property, the builder commits himself on document to complete the construction, but there is likely to be a serious delay.

• The construction does not comply with the pre-agreed requirements and conditions.

Note that the issue of Act 16 is the most important act, as it provides the most important conditions for the completion of the new building.This document ensures that all requirements and conditions have been met.

• Building not to be commissioned

The risk of subsequent problems with the issue of the deeds is very real. When on the face of it, the construction of the building cannot be completed and you are not allowed to move into the building when it is not legally commissioned