Algorithm for buying an apartment on the secondary market

If you want to buy an apartment for your own living, the optimal solution will be to choose the secondary market.

The main advantage is the ability to move into the apartment immediately after signing the purchase agreement. However, many real estate buyers have an ambiguous attitude to the secondary fund. In the minds of our compatriots, such housing is associated with outdated panels on the outskirts with rotten pipes, a leaking roof, dirty entrances, non-working elevators and worn-out communications. By the way, if you decide to quickly buy an apartment in Kyiv, we recommend contacting the best luxury real estate agency THE Capital.

We will not deny that something similar can often be found on the secondary real estate market. But this category includes a huge number of apartments, including from the elite housing segment, with different characteristics. Depending on your wishes and financial capabilities, you can buy both an expensive apartment in an elite residential complex and a standard apartment in a typical high-rise building in a residential area on the secondary market.

See also: Taxes for the purchase of an apartment.

Criteria for choosing an apartment on the secondary market

Buying an apartment should be approached with maximum responsibility. Even at the stage of choosing housing, you should take into account a lot of criteria in addition to cost, area and area:

• type of house - brick, panel, monolithic;
• apartment location - lower floors up to 3-4, middle floors from 4 to 10, upper floors above 10;
• type of interior decoration - no decoration, rough decoration, pre-cleaning and finishing.

Formulate your wishes and requirements for housing. Think about what conditions are mandatory for you, as well as what points you can ignore. This will help you choose the best apartment from the many options on the secondary housing market. And as a result, you will spend much less time.

See also: Power of attorney for the sale of an apartment.

When is it better to buy an apartment on the secondary market?

Seasonality exists in all areas, real estate is no exception. That's why sometimes it's worth waiting a few months to get a really good deal. Moreover, the seasonality factor affects the primary and secondary markets differently.

1. In autumn, the real estate market is simply flooded with offers for sale, but housing is also bought more actively at this time than in other seasons. In the primary market, it is better to buy an apartment in November, when developers are preparing for the inactive winter period and offer big discounts. But the price of apartments on the secondary market, surprisingly, is growing a little at this time, so it is better to wait for a more suitable season.
2. If you want to buy an apartment at a decent discount, February is the best time. Developers are trying to sell off what was not sold in the fall, so they will lower the price. But the choice will be small and you will have to choose from apartments on the first and last floors, in dangerous areas, etc.
3. Traditionally, prices on the real estate market rise in the spring, so it is impossible to buy housing at a discount during this period. But this season, many interesting offers appear on the market.
4. Summer is the best time to buy housing both on the secondary market and in new construction. Prices begin to decrease slightly in June-July.

No matter when you decide to buy an apartment, careful preparation, exceptional attention to the smallest details, and a smart approach will help you complete the transaction on the most favorable terms. Subscribe to our real estate blog updates and get the latest posts from THE Capital real estate agency.