What is the most interesting in 2019? Building, renovating, renovating or buying? We list the advantages and disadvantages so that you can decide for yourself what is most interesting for you, both financially and in terms of timing.
You want to build yourself
You have a clear idea of where and how you want to live and you can already imagine what your house should look like. In that regard, building yourself is of course ideal. In addition, such a new-build home will also have a high selling value when you work with new materials . For the same reason you won’t have to make major repairs for years.
The stricter energy standards may entail some extra costs when purchasing, but also lower energy consumption than an older home, and in this way you will benefit in the longer term. The chance that you will be faced with unpleasant surprises that have an impact both on the duration and on the price tag of the works is relatively small in a new construction. So you know pretty well in advance how long the works will take and what they will cost.
One of the biggest disadvantages of building is the high total budget . If the building land does not have too strict building conditions, you can spread the costs on the one hand by, for example, first buying your building land, then saving for a few years and only then starting to build. On the other hand, you must of course also be able to live somewhere in the meantime and pay off your rent or other loan during that period. So keep this in mind when you take out your loan .
In addition, it is not easy in 2019 to find a suitable building plot : after all, the Flemish concrete stop aims to halve by 625 the 6 ha open space that is still disappearing every day.
You want to renovate or renovate an existing home
Renovating an existing home can be an interesting alternative for those who don’t have the time or the budget for a complete new building but still want to live in a good location . You can start with a smaller budget and then carry out the work according to your available budget. For homes older than ten years, you pay a reduced VAT rate of 6% for the works . The financial benefit that you derive from a renovation or renovation applies especially if you buy a home that has not been finished properly. Suppose the bathroom is seven years old, but not your taste, then you pay for the purchase of your home for a bathroom that you will replace with a new one afterwards.
When renovating or renovating, you usually also have to take less account of rules and building regulations, so that you can make freer choices . For some that is an advantage, for others not. Suppose you would like to install a heat pump, then underfloor heating naturally becomes interesting again …
The choices that you can still make gradually also partly make it difficult to estimate the total cost of a renovation or renovation (read more here) in advance. The duration of the works is therefore often stretched somewhat. And even if you have hired an expert to check the house for any defects, it is not excluded that you can still be faced with unpleasant surprises .
You want to buy a home
If you want to be able to withdraw immediately , the purchase of a home is perhaps the most interesting. With a key-on-the-door formula you immediately know where you stand. You can withdraw almost immediately and you may even be able to choose some finishing elements yourself . The other advantages and disadvantages are the same as if you were to build a house yourself, with the only difference that it is not a customized house.
If you buy a house that does not require much extra work, it is also interesting for the same reasons. However, you will have to have maintenance or repair work carried out faster than with a new home. Furthermore, it is important that the property matches your expectations as well as possible. A new layer of paint is applied quickly, but a new staircase is a different story.
Are you going to view the house?
Then definitely bring a contractor or architect. Not only to determine hidden disconnections and therefore additional costs, but also to give you an idea about the asking price. In contrast to a new-build home or an older home to be renovated, it is more difficult to determine whether you really get value for money with relatively ‘young’ homes.