New construction versus older apartment or house
Deciding between a modern new-build apartment or a charming older property is a dilemma many face when purchasing real estate. At first glance, a new-build might seem like the obvious choice. Sleek design, cutting-edge technologies, and energy efficiency are undeniably appealing. Yet, there are certain factors that might make an older apartment the better option. On the flip side, older apartments can come with challenges such as outdated layouts, technical issues, or limited parking options. However, they often boast a quieter atmosphere, lush greenery, and excellent public transport connectivity.
So, what's the takeaway? Both options—whether you lean toward the modern appeal of a new-build or the character and practicality of an older home—come with their own pros and cons. Your choice should ultimately depend on your priorities, lifestyle, and budget. Whether you're drawn to the spaciousness of an older property or the convenience of a contemporary apartment, take your time, weigh every factor, and make an informed decision.
Let's break down the advantages and risks of each option to help you choose a home that truly meets your needs and expectations.
Advantages and risks of new buildings
Risks:
• The sizes of the most desirable apartments are lower than those of older apartments
• Connecting the kitchen with the living room, the so-called open space space - which may not suit you
• The layout is often solved in such a way that it is not possible to ventilate the apartment well and you have to invest in air conditioning
• Frequent absence of necessary infrastructure – schools, kindergartens, medical facilities, shops and restaurants.
• Frequent placement in the outskirts of cities
• Increased residential noise, a large group of residents in each project, the necessity to purchase a parking space, otherwise problematic parking
Advantages:
• Higher value of the apartment and apartment building (a large part of the price of the apartment is the value of the common parts and equipment of the apartment building, which explains why the value of a square meter is always higher than in old apartments)
• Fast processing of the mortgage loan (if the bank knows the development project, an expert opinion is not even necessary). The bank is based on the future value of the apartment from the appraisal of the project.
• A lower rate of costs associated with the use of the apartment, mainly energy due to the use of modern technologies and a higher energy certificate of the building.
• The price for sale is higher than for older apartments (if we don't take into account historic apartments in the city center) and the rental price is also higher.
• Possibility of purchasing a parking space
Advantages and risks of older properties
Buying an older apartment should be preferred if there is not enough construction of new apartments in the given location, the location is important to you (short distances to work, school or the presence of other important factors), the location has the infrastructure you prefer, etc. An older apartment will be a good purchase even if you need a larger apartment area than new buildings offer and your budget is tight. Older apartments have the necessary space, especially in the living area. On the contrary, kitchens, bathrooms and other accessories of the apartment may not correspond to ideas about modern living. The disadvantage of locations with older buildings is the limited possibility of securing your own parking space. A big advantage of such a location is, on the contrary, the presence of greenery and good traffic services.
Is it worth buying a "paper real estate" in Slovakia?
If you are buying a new building in a development project and the building is not approved, or construction hasn't even started, we're talking about a "paper" purchase. The advantage of such a purchase is a lower price, as the price rises depending on the approaching date of approval. This way you can save quite an interesting amount. Of course, only when you choose a project from the workshop of a proven developer. It is always good if the development project is covered by one of the more important commercial banks, as thanks to this, someone else can also see "into the kitchen" of the developer. Buying "on paper" is not suitable for people who need to live in a relatively short period of time. The normal construction of an apartment building can take up to two years, and at the same time, it is an unwritten rule that construction often slips into delays.
I am buying an apartment in Slovakia - what documents do I need?
• current extract from the title deed from the cadastre
• a photocopy of the cadastral map
• a copy of the original acquisition contract (that is, the contract by which he became the owner of the property, or another document, e.g. a resolution on inheritance, the price may be "blacked out" in it)
• confirmation of the age of the apartment building - it is issued by the administrator (it will be needed for preparation
• expert opinion for a mortgage bank)
• confirmation from the apartment building administrator that there are no arrears for services and media related to the use of the apartment (max. one month old)
• the last annual statement from the manager of the apartment building
I am buying a house - what documents do I need?
• current extract from the title deed from the cadastre
• a photocopy of the cadastral map
• the original acquisition contract (i.e. the contract by which he became the owner of the property, or another document, e.g. a resolution on inheritance, the price may be "blacked out" in it)
• approval decision
• construction documentation (including inspection reports)
• latest invoices for water, electricity, gas
I am buying land - what documents do I need?
• current extract from the title deed from the cadastre (not from the Internet)
• the original acquisition contract (i.e. the contract by which he became the owner of the property, or another document, e.g. a resolution on inheritance, the price in the contract may be "blacked out")
• a photocopy of the cadastral map
• spatial planning information - it is issued by the municipality free of charge upon request
• geometric plan, which the plot was focused on
• expert opinion, if a geological survey of the subsoil (or groundwater level) was carried out
• statement of utility network managers about the possibility of connecting to them (water, sewerage, electricity, gas)
What is the difference between an flat versus an apartment in Slovakia?
When buying property, pay close attention to exactly what you're purchasing. Many people mistakenly view an apartment as simply a lower-grade version of a flat, but the distinctions are far more nuanced. From a legal standpoint, the critical difference lies in usage: a flat can be approved for permanent residence, while an apartment cannot. This variance primarily stems from discrepancies in technical and hygienic standards, such as insufficient natural daylight (e.g., units facing corners, north-facing windows, or lower floors) or exceeding noise limitations. Spaces that do not meet the legal residential standards of a flat cannot be approved as such. According to the Building Act, a flat is defined as a room or collection of rooms permanently designated for housing by a building authority, meeting specific criteria to serve as standalone living units.
Pros and Cons of Buying an Apartment
There are notable considerations when investing in an apartment. If you're planning to finance the purchase with a mortgage, ensure that the bank you choose offers loans for apartment purchases. Not all banks do, and this could pose a challenge. Another potential obstacle involves registering a permanent address in the apartment, as ambiguous legal regulations often mean that authorities employ inconsistent processes. On the upside, if you are a VAT payer and plan to use the apartment for business activities, you may be eligible to deduct value-added tax—an appealing financial benefit.
Key Information to Look For in a Property Ad
A good property advertisement should provide complete and accurate details about the property's condition. Look for specifics such as exact dimensions, monthly costs related to property upkeep, the layout, and other essential details. A well-crafted advertisement will also feature a floor plan along with high-quality photographic documentation taken during a professional inspection of the property. Furthermore, the ad should include clear contact information for the seller. Professional ads often go the extra mile by incorporating details about energy certification and mortgage eligibility, which can be pivotal when making your decision.
How Can a Real Estate Agency Help Me Find a Home, and What Will It Cost?
You can enlist a real estate agency not only to help you find the ideal property but also to represent you throughout the purchasing process. This is commonly referred to as a "Buyer's Agent" service. Fees for this service are typically negotiated in a mediation agreement between both parties. Unlike property sales, where commission structures often dominate, a Buyer's Agent charges specific fees based on the completion of individual tasks, such as property searches or negotiations. This approach makes the overall cost of the service comparable to — and sometimes even lower than — traditional real estate sales commissions.
How to choose a location?
Location is the only property attribute that cannot be changed. A good location means:
• proximity to the city center
• plenty of job opportunities and rich civic amenities in the immediate vicinity (for example
• shopping opportunities, schools, banks, post office, hospital)
• quality environment
• safe location
• high-quality transport infrastructure and good availability of public transport
The better the location, the higher the price of the property. Clarify your expectations and priorities even before you start looking for a place for your home. You may find your dream home in a location that is more affordable for you than you originally thought.
What should I be interested in besides price and location?
Have you found an apartment at an affordable price and in a dream location? You are only at the beginning. Look at the size of the apartment, layout, orientation to the cardinal points. Doesn't the apartment overlook a busy street? Can the loggia also be used practically? What is the technical condition of the apartment and apartment building? Is the title deed "clean" or does the owner's mother-in-law have the right to live in it for life? On which floor is the apartment located? Is there an elevator? How is the parking? Take an interest in your neighbors. Does that seem like a lot? It is already clear that it will not work without compromises. Don't look for a property that will meet your expectations 100%. It is enough for her to fulfill what is really important to you.
What does holobyt / holodom mean in Slovakia?
It is a construction without tiles, facings and other equipment. It is, of course, cheaper than construction in the so-called standard of a full-fledged house or apartment. The costs of completion are usually relatively high, on the other hand, the customer can choose the materials and equipment of his choice. It is important to know exactly what the term "holobyte" or "holoconstruction" represents, as each developer can associate these terms with other content.
What should a real estate agent be able to answer during the inspection?
He should know the legal and factual status of the property, the possibilities of its purchase, including the purchase with the help of a mortgage. He should be able to inform about the costs associated with the use of the property, the possibility of clearing the property. He should also be able to respond to possible deficiencies that the property has and should propose possible solutions. Questions that he cannot answer on the spot, he should be able to answer in a qualified manner based on the information he gets from sellers and various experts.
What if I don't get all the information I should from the broker?
Ask. Before the tour, prepare a list of questions to which you would like to receive an answer. Read the specific real estate ad, but also other ads where there is more description and write down everything that is stated in other ads and not in "yours". Feel free to send these questions to the broker in writing. Also, do not hesitate to ask for additional information from the broker even after the inspection. For example by email. Have documents related to the property shown, e.g. the latest reconstruction project, audit reports, etc. It is advisable to oblige the seller to submit such documents or information, for example, in the reservation contract.
New construction vs. older apartment / house for rent, what is more worthwhile?
When considering buying an investment property, one of the most critical factors to prioritize is location. A prime location can make all the difference in attracting tenants and ensuring long-term returns. In today's fast-paced world, no one wants to endure a 30-minute commute, spend mornings stuck in endless traffic, or circle the block for half an hour just to find parking. Properties in desirable areas with dedicated parking spaces are, without a doubt, the most appealing option.
Modern developments also tend to meet the expectations of most clients in terms of amenities and convenience. Given the choice between a new construction and an older apartment at the same price point, tenants overwhelmingly lean toward the newer property. The enhanced comforts, contemporary designs, and modern features of new builds typically offer a far superior living experience, making them the obvious choice for most renters.
Renting luxury real estate without compromises, where to look?
The demand for premium rental properties continues to rise, particularly in the luxury real estate segment, appealing to clients willing to invest extra for unparalleled comfort and convenience. This select group of renters is ready to pay a few hundred euros more each month, but in return, they expect a prime location, private parking, and meticulously curated high-end furnishings. Additionally, they demand hassle-free living, which includes prompt resolutions for repairs, appliance replacements, or any unexpected issues.
However, the term "luxury" is often overused in real estate listings, with many advertisements exaggerating claims to attract interest. Let's clarify: true luxury rentals begin with the location. Ideally, this means a central position or, at most, an area within the wider city center, balanced out by an apartment's larger size. Proximity must match the premium price point, and renters should remain cautious about misleading claims.
Private parking has become a non-negotiable standard, especially in newer developments, as has the inclusion of air conditioning. While air conditioning can increase monthly utility costs, it's essential for comfortable living during hot summer months—something tenants in this market expect.
A genuine luxury apartment must also deliver on its interiors. High-quality furnishings are a must, including appliances that cater to all daily needs. A premium living experience involves a spacious layout without compromising on storage, topped with a proper, comfortable bed to ensure restful nights.
Equally vital are elements of relaxation and entertainment. After a long day, every tenant should be able to kick back on a plush, high-quality sofa and enjoy a movie or music on a large-screen TV with endless channel options. These aren't mere "extras" for luxury renters—they're baseline expectations.
So, the question arises: how many so-called luxury listings truly live up to these criteria? A proper luxury rental should meet these standards as the bare minimum, combining functionality, comfort, and modern elegance that exceed expectations. Anything less is not worthy of the title "luxury."
Where can I get more for my money if I am willing to pay a higher rent?
Košice City Center Rental Apartments - Discover the epitome of luxury living with Košice City Center Rental Apartments, where new, high-end, fully furnished apartments redefine modern comfort. Located in the prestigious Novostavba area, right in the heart of Košice, these premium flats feature private parking spaces, ensuring ultimate convenience in a central location.
From air conditioning easily controlled via smartphone to state-of-the-art 65-inch (and larger) Ultra HD TVs, every detail reflects a commitment to luxury. Enjoy the ultimate relaxation with electrically adjustable beds, while having peace of mind with our 24-hour emergency service and professional, prompt assistance whenever needed.
Košice City Center Rental Apartments set the gold standard for those seeking an uncompromising lifestyle in premium housing. Whether you're an individual, part of a family, or an employee with a corporate housing allowance, this is your opportunity to experience unmatched living in Košice's vibrant center. Immerse yourself in comfort, style, and convenience like never before.
Your ideal home awaits. Discover Košice City Center Rental Apartments today and step into a new level of sophistication. Book your apartment online
Košice City Center Rental Apartments - Premium flats at fantastic price for rent in Košice - visit our website