A flat from the primary or secondary market – which is the better choice?

Anyone who wants to buy a flat faces a choice between two main markets - primary and secondary. In both cases the decision to buy a property involves a considerable financial investment. What are the advantages and disadvantages of flats from each market? What should you look out for, and which is the better choice?

A flat from the primary market - advantages and disadvantages

The primary market is defined as the market for brand-new flats, that is, those sold by developers. When choosing such a property, you can be sure that nobody has lived in it before. Thus a huge advantage of the primary market is the opportunity to arrange the flat according to your own needs and style. Usually some changes can already be made at the construction stage, so it is the developer who takes care of knocking down partition walls or modifying the wiring and the number of sockets. Of course, this is not possible in every case. Another advantage is the freedom to choose between several options, in terms of both floor area and room layout. A flat from the primary market is therefore largely customised to the buyer's preferences. Unfortunately, buying such a property usually involves higher costs than on the secondary market. On top of that come the costs of finishing and furnishing the property. The waiting time is a problem too, because some developers postpone the date on which the flat is handed over.

A flat from the secondary market - advantages and disadvantages

On the secondary market, that is, for second-hand flats, prices are usually 5-10% lower than for new properties. On the other hand, you have to pay the 2% civil law transactions tax (PCC) and a higher commission to the estate agency. Flats from the secondary market sometimes require additional investment, for example renovation, but a big advantage is that you can move in practically straight after the purchase. Estates with second-hand flats are already fully developed and are usually closer to the centre or to public transport stops. Unfortunately, when choosing a flat from the secondary market, you must remember to carefully check the previous owners and, above all, the land and mortgage register (księga wieczysta) and any mortgage encumbrances. Second-hand flats are also usually in worse condition and of a lower standard than those from developers, though this is not always the case.

An estate agency will certainly help either way

Whether you choose the primary or the secondary market, contact an estate agency. The specialists will certainly help you choose the right property and take your preferences and needs into account. Check out an estate agency in Katowice and find out more about the specifics of the housing market in this city. An estate agency in Katowice is a good choice for anyone looking for a new or second-hand flat.