8 Questions to Ask Yourself and Your Real Estate Agent When Buying an Apartment in a New Development!

8 questions to ask yourself and your real estate agent when buying an apartment in a new development!

It's probably clear to everyone that new is better than old, but how do you know if, for example, a home – one of life's most important decisions – is really what you dream of when buying it new? Iris Öpik, a professional real estate agent at Domus Real Estate, gives eight tips on what questions to ask yourself and the developer when you're considering buying an apartment in a new development.

Often, beautiful computer-generated images of your future potential home can confuse you and lead you away from your real needs and possibilities onto the roads of dreams. To prevent this from happening, keep these things in mind and pay attention to them.

1. Location, location, location?

Yes, it sounds like a cliché, but it's one of the most important questions that needs an answer. An apartment bought in Mustamäe can't be moved to Kalamaja later; everything else might be fixable. So make sure to figure out first where you actually want to live and also where you definitely don't want to!

2. What is the neighborhood of my home like?

Drive or walk around the new development's neighborhood. Look around definitely both on weekdays and weekends and if possible at different times of day. Get to know the neighborhood's possibilities – are there places to go with children or is a dog park or a shop or bus stop important to you? Think through what services should definitely be near your home. Also test your everyday routes – to work, to training, to school.

3. What do I see from the window?

Do you see only the neighbor's windows from the third floor windows? Will there ever be sun on my balcony? The location of an apartment in a building might not be immediately clear to you when buying in a new development. This is where an experienced real estate agent helps, who can also show you on site at the construction stage of the building exactly where your future home's windows will face. It's equally important to understand, for example, when considering buying a terraced house unit, whether that large and cozy terrace is really for enjoying the evening sun or whether you can watch the sunrise with your morning coffee here.

4. How much space do I need and what layout suits me?

You don't always need huge square meters, but rather functionality. It's easiest to think about how many bedrooms you need. If you work from a home office a large part of the time, you need to find space for that too. Next, you might ask yourself whether one bathroom is enough or could there be two? Would you like to use a sauna and could it be in your home as well? Think through what your lifestyle is like. A good real estate agent can definitely guide you here in making these observations.

5. Is the kitchen the heart of my home?

If yes, then don't settle for less than you need and want! In most new developments, it's possible to design the kitchen to your liking, but here too you need to know where it's possible to place things. In a new development, when looking at the project, you can see where the water and sewage connections are and how ventilation runs, which can set limits to your dreams.

6. Do I have a lot of things and where will I put them?

Usually it's possible to purchase a storage room along with the apartment, which is located separately from the apartment. When choosing a home, it's worth thinking through how much stuff you have that needs storage. For example, sports equipment, winter clothes, various hobby supplies and such. Maybe a walk-in closet would help or are the bedrooms large enough with enough wall space to build proper sliding wardrobes?

7. Do I have the means to fulfill this dream?

Usually it all starts with a dream, but this could of course also be the very first question. Buying a home is a major expense and it should definitely be a carefully considered decision. You could start with your home bank and consult about what your options are. This sets the budget for your new home.

8. What does the home purchase process in a new development actually look like?

Usually a home in a new development is bought so to speak on paper. When all the previous points have been gone through and a suitable home found, then you need to conclude an obligatory purchase agreement at the notary's office, with which you pay the developer's desired amount as a down payment. Depending on the development, this can be in the range of 5-20% of the final price. The contract specifies the possible later deadline for concluding a proprietary agreement, i.e., the time when you must pay all the money. If the home is purchased with bank assistance, you must conclude a loan agreement by then. Only after the proprietary agreement is concluded do you become the owner of the new home.

Article author: Iris Öpik, professional real estate agent at Domus Real Estate