Both buying an apartment on the primary market and buying an apartment on the secondary market have their own advantages. However, they also have their drawbacks. It is worth analyzing them all, which will allow you to make the right choice. Unfortunately, there is no universal solution — it all depends on what characteristics of the property are most important to us and what our budget is. It is a good idea to discuss these matters with your real estate agent. You can buy an apartment in Phuket on the website at https://ibgproperty.com/property-for-sale-phuket/.
Specificity of the primary market
When we think about the primary market, we mainly see apartments that were never put into operation, the first owners of which will be us. Then it is possible that any element of the apartment will be damaged or worn out — we take the keys directly from the developer. Apartments and houses from the primary market in most cases have just been commissioned. Their advantage is obvious — they were created quite recently, therefore, using modern knowledge and components. Many of them are equipped with additional amenities that make life easier. If we are talking about modern neighborhoods, then we can expect a large parking lot, convenient elevators and monitoring. The primary market offers mainly two types of apartments — turnkey, that is, with finishing, and in the developer’s standard. When buying real estate from the last group, we must take into account additional investments that bring the house or apartment into use. The developer’s condition is usually very severe. A general overhaul is then simply necessary.
Maybe the secondary market…?
The primary market is characterized by the fact that when we make a decision to buy real estate, we usually invest in an object that is not yet completed or is just being built. In addition, the location of new buildings, as a rule, is much worse than that of old ones — all because of the overcrowding of urban centers, where there is no room for additional investment in the secondary market. As such, it seems like a good option for those of us who care about a holistic approach to housing investment — when buying a used property, we can evaluate its surroundings, the way it is finished, the amenities installed and many other aspects. which in the case of the primary market is simply impossible in the world. Unfortunately, this solution also has disadvantages. The most important of them is the technical condition of buildings, which can be really different. There are real jewels kept in perfect condition, but if the previous owner of the house or apartment was negligent, many unexpected defects may come to light, which will expose us to additional costs.