Buying an old property or a newly built one?

Purchasing an apartment is more than just choosing a property - it’s a decision that impacts your daily life, financial stability, and quality of living for years to come. On the domestic real estate market, one of the most common dilemmas buyers face is: should you choose an apartment in an old building or a newly built one?

These are two different housing concepts, each offering its own advantages and challenges - from location, construction quality, and costs, to functionality and long-term value. To help you make the best decision for your needs, we present a detailed comparison of both options.

Location: Old buildings often have the advantage

One of the key differences between old and new construction is location. Most older buildings are located in city centers or well-developed neighborhoods, where essential amenities such as schools, kindergartens, shops, public transport, and parks are easily accessible.

New constructions, on the other hand, are more often built on the outskirts or in newly developed areas, where land is more available and affordable. Although these areas often include planned infrastructure, it takes time for a complete urban environment to fully develop.

Construction quality: myths and reality

Many buyers believe that older buildings are synonymous with higher construction quality – especially those built between the 1950s and 1980s. These apartments typically have thicker walls, better sound insulation, and higher ceilings, giving a sense of space and luxury.

However, modern construction if done by a reputable developer  can offer the same or even more in terms of energy efficiency, thermal insulation, high-quality materials, and modern technology (e.g., smart systems, underfloor heating, etc.).

The quality of new construction largely depends on the investor - thorough research is highly recommended before making a purchase.

Layout and space utilization

Apartments in older buildings often have a traditional layout – separate kitchen, dining room, spacious hallways, and larger rooms. Many people appreciate this for its feeling of openness and practicality.

In contrast, new construction often features an open space concept, combining the kitchen, dining, and living areas into one cohesive unit. Floor plans are optimized to make the most of available square footage.

If you prefer a classic layout and the charm of older apartments – an older building may be your choice. If you’re drawn to modern design and efficient use of space – go with new construction.

Costs and investments: Move-in ready or renovation required?

New apartments are typically move-in ready, meaning you won’t need to budget for renovation. Everything - from plumbing to flooring – is brand new and ready for use.

Older apartments, while often cheaper at first, frequently require updates – including electrical, plumbing, windows, and bathroom fittings – which can significantly raise the total cost.

A bonus with new construction is the availability of government-subsidized loans or phased payment options during construction.

Building maintenance and common areas

New buildings usually feature modern elevators, stairwells, and facades. Maintenance is simpler, and costs are distributed among tenants.

In older buildings, particularly those that haven’t been renovated, common maintenance issues can arise – including roof repairs, outdated plumbing, or facade restoration – all of which can lead to higher shared expenses.

Parking and additional amenities

A frequent problem in older urban neighborhoods is the lack of parking, while most new buildings offer garages – a significant advantage for drivers.

Additionally, new developments often include extra features such as fitness centers, communal lounges, children’s playgrounds, or security systems – all contributing to a higher standard of living.

Investment value and resale potential

Old apartments in attractive, central locations maintain high value and are easy to rent. However, new construction in well-planned, developing neighborhoods can rapidly increase in value, offering a solid return on investment.

Buyers looking to rent out their apartment often favor new construction for its modern interiors and lower maintenance costs.

The key lies in your priorities

Choosing between an old and a new apartment isn’t a one-size-fits-all decision – it depends entirely on your lifestyle, expectations, and long-term plans.

If you value traditional architecture, high ceilings, and classic room layouts, an older apartment may be a great fit - provided you're willing to invest in potential renovations and maintenance.

On the other hand, if you prioritize modern infrastructure, energy efficiency, contemporary design, additional amenities like garages, and lower maintenance costs in the early years – new construction offers clear advantages that suit a modern lifestyle.

Regardless of your choice, the most important thing is to make an informed decision. Review all documentation carefully, check the developer’s or building’s reputation, and if needed, consult an experienced real estate agent.

Ena-Lemana S.

---