Are you patient?

As soon as the offer you make on an existing property is accepted, you sign the Sales Agreement, you apply for a loan (if necessary) and a few weeks later, you can sign the Deed of Sale and receive the keys.

When you buy off plan, you have a long wait ahead of you. Not only do you have to wait for the property to be built, but sometimes you also have to take into account the building permit process and infrastructure preparation. Real estate developers are also requesting early reservation of units by prospectors in order to obtain the bank guarantee they need to cover construction costs. So, if reservations are slow, your own wait is that much longer.

Do the maths!

If you buy an existing property, you must add to the costs of the property and those of the notary, the registration tax which represents 3.5% of the purchase price since October 1, 2024. You can benefit from the Bëllegen Akt which, as a couple, could allow you to save up to 80,000 euros on these registration costs (Note that the tax credit must decrease on January 1, 2025). All amounts are due on the day of signing the deed of sale.

You must also leave your old property within a relatively short period of time: pay attention to the exit clauses in your rental contract or the possibilities of quickly selling your own property. You may have little time to organize yourself properly.

If you are buying a new property, the costs seem more attractive at first glance. Registration fees are only paid on the land portion and the portion already built; The Bëllegen Akt sometimes covers these costs entirely. The construction part is taxed with a VAT of 3% (up to a saving of 50,000 euros) instead of the usual rate of 17%. Payments are made in stages during the construction period.

Pay attention, however, to the content of the Specifications (the technical specifications) of the property; it often covers only minimal equipments and at a moderate price. If you want more high-end materials, more electrical outlets, etc., the costs of your purchase will increase. Additionally, kitchen and landscaping costs are generally not included in the Specification, so they are extra.

As soon as construction begins on your new property, you will begin paying for it as well as paying rent or mortgage on your current address. While it may be easier to plan your move, also plan for some potential delays in the delivery of the new property.

Functional and/or inspiring?

Last but not least, you need to consider the type of property you want to acquire. Most new properties are sold and built by developers who deliver standard units and show little architectural and design creativity. For a property with a more individual appearance, an old property can have more character or it will be more easily transformed according to your tastes and needs.

So, what are you going to visit? For our already built properties,