New Construction or Resale Property: What to Choose for a Buyer
Reading time: 5 minutes
- Key differences between new construction and resale properties
- Financial aspects and potential hidden costs
- Legal nuances of the transaction
- Priorities when making a decision
- Conclusion on choosing a property
Key differences: new versus lived-in
Financial aspects and hidden costs
Legal nuances of the transaction
Making the final decision
Conclusion: your ideal home awaits you
Key differences: new versus lived-in
The main difference lies in the condition of the property itself. New construction offers modern layouts, compliance with the latest building codes, and the use of new materials and technologies. You become the first owner, which means there is no hidden history of the property. Resale property, on the other hand, already has its own history. Its main advantages are often a more advantageous location in established neighborhoods with developed infrastructure and, as a rule, a lower price per square meter compared to new projects.
Financial aspects and hidden costs
When evaluating your budget, it is important to consider all costs. Buying an apartment in a new building often involves additional expenses for arnona (property tax) during the construction phase, payment for connection to utilities, and mandatory finishing. Purchasing a resale property usually means more transparent one-time costs, but may require immediate investment in cosmetic or even major repairs. Carefully weigh your financial capabilities to avoid unforeseen expenses after the transaction is completed.
Legal nuances of the transaction
The legal side of the purchase also differs significantly. Buying an apartment on the secondary market requires a thorough check of the property’s history, the absence of encumbrances (liens, mortgages), and the legal status of the seller. Buying a new construction involves a contract with the developer, where key points are the construction stages, warranty obligations, and project completion deadlines. In both cases, it is highly recommended to use the services of a qualified lawyer specializing in real estate transactions.
Making the final decision
To make the right choice, make a list of your priorities. If key factors for you are modern living standards, individual layout, and the possibility of gradual investment (staged payment during construction), then a new construction is your option. If immediate availability for move-in, established neighborhood infrastructure, and the possibility of price negotiation are important to you, then you should focus your search on the secondary real estate market. An honest assessment of your needs and capabilities is the key to a successful purchase.
Conclusion: your ideal home awaits you
The choice between new construction and resale property has no universal answer—it depends on your personal circumstances, financial capabilities, and long-term plans. New construction promises modern comfort and the prospect of value appreciation, while the secondary market offers proven reliability and often a better location. Whichever path you choose, remember that placing an ad to buy or sell on our site gives you access to the widest audience in Israel. Thanks to automatic translation into four languages, your ad becomes understandable to potential deal partners, regardless of the language they speak. This is your key to a successful and fast transaction in the Israeli real estate market.
Frequently Asked Questions
What is better: new construction or resale property?
It depends on your financial capabilities and personal preferences.
What hidden costs can arise when buying a new construction?
Additional costs include arnona, connection to utilities, and finishing.
Is a lawyer needed when buying real estate?
Yes, it is recommended to use the services of a qualified lawyer to check the transaction.
How to choose the right property?
Make a list of priorities and carefully assess your capabilities.
What is arnona?
Arnona is a property tax that must be considered when buying a new construction.