Buying and selling real estate always remains relevant, as over time, almost everyone plans to buy their own home. A person faces questions: how to choose a conscientious builder, what is better to buy: a new building or secondary housing, and so on. We will tell you about real estate agencies, developers and all the nuances of buying an apartment.
Who is a developer, his functions and responsibilities?
The customer may be a natural or legal person who manages the construction entrusted to him. The Customer works on behalf of the investor or developer and organizes the contractors' activities. In case of breach of the contract by the investor, the customer has the right to terminate his obligations.
The functions of the customer are as follows:
- making a decision on implementation of the investment project;
- development of pre-project documentation;
- appointment of the project manager;
- application for registration of the land plot;
- provision of geodesic works;
- organization of demolition of buildings, structures and so on;
- performance of works on dismantling of equipment, hardware, mechanisms and devices;
- conclusion of a construction contract;
- making a decision on suspension of construction, etc.
The developer is the organizer of construction, reconstruction and repair of residential buildings. The developer can be either an individual or a legal entity, and the object under construction - for personal residence, rent or sale.
The notions of "builder" and "customer" are often confused. The customer manages the construction and the developer is the owner of the land on which the construction is carried out.
The developer, as a rule:
- finances the erection, reconstruction, restoration, repair, improvement, demolition;
- carries out construction activity with an engineer, and a contractor in construction activity on the basis of the concluded contract.
To check the reliability of the developer, it is necessary to follow the following 8 rules.
- To check the availability of a construction license.
- Find out detailed information about the object. In the presence of any unclear points that the customer does not want to explain - reason to doubt his integrity.
- To check the availability of the construction order, the approved working draft, the developer's passport and other necessary documents.
- Make sure that all documents are certified.
- Make sure the price is adequate. Low price is a reason to be wary.
- To make sure that the agreed terms are correct. If the old construction site is not demolished yet, the delivery of the new construction may be delayed.
- When buying an apartment in a house under construction, it is better to study the situation in the city as a whole: what other developers are, how long are they building, what prices they have for housing.
- Show the lawyer the draft investment agreement. If the developer is against it, it is a direct sign that it is better to reject the deal.
The investor makes decisions on investment activities and invests in construction.
Finding an investor for construction is not an easy task. The larger the investment amount, the greater the risk of not getting it back. Private investors in construction cautiously choose an investment object, but agree to the project much more often than venture funds. Such investors get profits from construction when they have them.
Experienced developers and authors of numerous projects are more likely to choose companies by investors in construction. Such developers can boast good business history and prove the productivity of their existing buildings. If businessmen need an investor for construction, they simply turn to investment companies as it is much harder to find a private investor.
Equity construction is the purchase of housing in installments. A contract is concluded between the developer and the citizen, according to which for the construction of a residential building funds are attracted from citizens who claim to purchase an apartment in this building. As a rule, the funds are transferred to the developer's account not once, but by separate receipts during the whole construction period. Residents of Belarus liked this method precisely because of the possibility of gradual payments, as housing prices in the country are quite high and the purchase of an apartment becomes a serious problem.
It is important to remember that the first payments should be made only after the equity construction contract is signed. The payment is usually made in cashless form, while cash payments should be made by the bank.
As mentioned above, the contract may provide for a lump sum payment or a phased payment procedure for the apartment. Payment periods are determined by a schedule drawn up in advance, or as the developer provides information on the cost of work performed, the costs of the developer, and the amount of the necessary cash contribution to pay for construction.
Development is a business activity in the field of real estate construction, in the process of which there is a transformation of an existing land plot or building, resulting in the creation of a new object with a higher value than the original one. The developer is the organization that accompanies the whole process of project implementation: design; land purchase; obtaining building permits; conclusion of the contract with developers, contractors; search of realtors, brokers for sale of ready-made real estate objects.
Real Estate from Developers
The developer knows all the features of the project like no other. He can talk about the technology of building a house, the materials used and the progress of construction. Also will help to choose a suitable apartment, based on your preferences: the location of the house, the view from the window, floor.
Do not forget that by buying an apartment from the developer, you save money. First, the price at the stage of construction is much lower. Secondly, developers often hold promotions, as well as with them can agree on a pleasant discount.
If you do not have enough money to buy the desired apartment, you can use the credit program. The thing is that construction companies cooperate with banks and offer more favorable credit terms.
Finally, developers offer the service of booking a desired apartment. As long as you decide on the method of payment or solve credit issues with the bank, you can be sure that the apartment remains with you.
Types of houses by wall material, which today offer developers:
- panel houses;
- brick houses;
- frame-block houses.
By the number of storeys:
- multistorey from 9 floors;
- low-storey to 6 floors;
- single-storey cottages;
- two-storeyed houses of block type - townhouses.
A new building can be of four types:
- an apartment that is under construction. You can buy these type of apartment from the developer or from a real estate agency;
- apartments that are not sold by the developer during construction but have already been commissioned. Buying these type of apartments is also done from the developer or agency;
- housing in a commissioned apartment building that is sold without finishing to individuals. These housing is purchased at the construction stage, and after the purchase, the owners for a number of reasons decide to sell it;
- new buildings are often associated with houses that are no older than 10 years. These houses attract buyers with their relative novelty, good repair, interesting layout. But these housing is hard to call a full-fledged new building - a fresh secondary housing, which for 5-10 years may change more than one owner.
The advantages of buying a new building:
- legal purity of the deal. When the buyer is the first owner, there are no problems and legal proceedings with former owners;
- budget savings. Buying an apartment at an early stage of construction can save a lot of money. There are also lending programs for different categories of citizens;
- no trace of old owners;
- friendly relations with tenants. Residents move into a new house almost simultaneously. It is easier to make friendships with tenants in a new building. It is also more common for tenants to be "homogenous". The chance to meet asocial neighbors is negligible.
Despite all the advantages, new buildings do not do without disadvantages. There may be unforeseen situations related to the timing of delivery of the object, requires investment in the decoration, is not excluded constant noise from neighbors during repairs and may not be ready infrastructure.
Studio apartments are usually bought as a starting house, as a change from the previous apartment or for subsequent rent. Studio apartments are also attractive for their value.
One-bedroom apartments are popular due to their adequate price and space, which is enough for a small family. One-bedroom apartments, as well as studio apartments, are often bought for rent.
A three-room apartment is a good option for large families or for those who are able to maintain a property.
Secondary housing in Belarus and Minsk is represented by buildings of the 20th and 21st centuries; there are also objects of the late 19th century.
The advantages of buying secondary housing:
- rapid relocation. You do not have to wait until the developer gives the house;
- developed infrastructure;
- among secondary housing there are enough options that do not require repair.
The downsides of secondary housing:
- legal problems may arise;
- due to the age of the house there may be problems with plumbing and other utilities;
- additional financial costs if the buyer wants to renovate;
- the possibility of an unfavorable neighborhood.
Commercial Real Estate
Commercial real estate is acquired either by large companies for office or wealthy entrepreneurs. They say that it is always better to invest in commercial real estate than in residential real estate. And it's true. When buying and renting an office or commercial space for a long term, investors get one and a half times higher returns than when renting apartments and less effort and time is required.
Land is often bought for the construction of a country house or villa. Today you can buy a land plot for construction and maintenance of an apartment house without a building in Belarus only through an auction. If there is at least some registered building on the land plot, the purchase is made in the ordinary market mode.
The procedure for selling land plots also has some nuances. Thus, a land plot purchased at auction can be later sold only after the registration of a building located on it. In this case, an unfinished building, even just a foundation, will do. The main thing is that it is properly registered.
The purchase of any property has its own nuances. When buying a secondary home you may face problems that you will not face in a new building and vice versa. Before choosing and buying a home, weigh the pros and cons, think about whether you are willing to accept any inconvenience, get acquainted with developers and prices in your city, and do not forget about the possible pitfalls with the developer.
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