The cost of an apartment is a crucial factor that guides buyers when deciding whether to buy a house for sale or not. In most cases, the budget is the primary limitation within which a choice is made in favour of a particular property.
Table of Contents
- Location of the Building
- Area and Size of the building
- The Number of Floors
- Material Used During Construction
- The Date of Completion
- Well- furnished or Not
- Infrastructure
- Ecology
When choosing an apartment in a new building, it should be considered that the cost per square meter depends on certain factors. By limiting the value of the transaction, you can decide which criteria are essential and which can be neglected to save money.
Let’s tell you about the main factors affecting the price of an apartment, building, or house for sale.
Location of the Building
The location of the residential complex includes the proximity from the centre of the city, metro stations, and transport interchanges as it increases the cost per square meter. This criterion can significantly affect the price.
Area and Size of the Apartment
The area and size of the apartment is also a prominent factor. In most cases, this condition can be as critical as the purchase budget.
The Number of Floors
The floor on which the apartment is located will, in many cases, affect the value. It is believed that residents of the upper floors pay extra, although all other things and amenities are equal on every floor except the view. It is charged extra for a beautiful view from the window and distance from the road.
At the same time, many modern residential complexes are designed so that the residents of the lower floors and the upper ones should not face any discomfort because of the proximity to the local area. Remember, the higher the floor, the more expensive the apartment.
Material Used During Construction
The material from which the house for sale is built is the most budgetary option. It will include complexes built from panels, more expensive are monolithic ones, the most costly are brick houses, but the latter method of construction is not very common among new buildings recently.
The Completion Date
In the current situation, the dynamics of prices per square meter depending on the stage of construction. However, it is no longer as noticeable as before in the industry. It became unprofitable for developers who sell residential complexes according to the new rules to offer a low cost at the initial stage of work.
Moreover, the risks of equity holders, a decrease in which by the time the house is completed, causes an increase in prices, are now practically absent.
Well Furnished Apartment or Not?
These days there are several options for furnished houses and apartments in new buildings – luxurious, fine, and renovated. All other things being equal, an apartment with a coarse finish will cost the least. The most common option in residential complexes is the final furnished apartments
Infrastructure
Schools, kindergartens, shopping centres, supermarkets – the presence of the entire necessary infrastructure within walking distance invariably leads to an increase in the cost of housing.
The same applies to the proximity to the recreational places – the parks, cinemas, sports clubs, etc. The developed infrastructure of even a remote area can increase the cost of an apartment to the level of housing closer to the city centre.
Ecology
Housing in industrial areas and close to manufacturing businesses will be cheaper than similar in non-manufacturing residential locations.
We hope that our article will help you make the best choice and take into account all the necessary criteria that an ideal house must meet.
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