The novelty factor:
Many buyers and renters are attracted to new builds due to the simple fact that everything in the building is, well, new. Everything is fresh and untouched, never before lived in and uniquely yours, ready to be customized and tailored to your personal style. The space is simply stunning; the ceilings are usually higher, the layout is often more open, windows reach from floor to ceiling and the whole place is equipped with the latest, most sought after appliances and fixtures. From the crucial washer, dryer, and dishwasher all the way to state of the art cooktops and built-in espresso makers, you’ll never feel short changed in a new construction apartment. Move-in ready and outfitted with the latest, modern technologies and features, new buildings provide buyers with the ‘wow’ factor they are looking for in their home.
Additional extravagant amenities:
In order to get people talking and justify their asking price, new buildings often don’t hold back when it comes to the extras, throwing in top-of-the-line gyms and swanky outdoor entertaining spaces as well as hosting social events for residents. New buildings are always in competition with each other, devising ways to differentiate themselves and coming up with creative luxuries that no other development can offer buyers. Trending now are social perks, high-end restaurants and deluxe on-site spas.
Especially attentive staff:
Even though a friendly doorman or super is always on the wish list, in a new building, the staff are usually more eager to please, more accommodating, and more willing go the extra mile to assist residents in any way. With a newer building, the staff are charged with setting the precedent and therefore tend to be more attentive, care more about the building and its residents, and want to do their best to make a good first impression.
Abundance of incentives:
While concessions have not always proved to be worth the purchase, in a new building that is looking to fill space as soon as possible, potential residents, especially renters, can expect a lot of bonuses or freebies. As a way of enticing residents, buildings may offer waived broker fees, a period of free rent, waived amenity fees, and other creative incentives – but make sure you read the fine print!
Purchasing or renting in a new building is surely the way to go if all of these benefits are what you are looking for. While the advantages discussed above are certainly appealing, new builds are not for everyone, especially those seeking a property with lots of character or less frills. The good news is that the luxury real estate market has properties of all kinds to offer, and with the some most amazing properties in the world to choose from, you will surely find the right one for you.