Contemplating Real Estate Purchases Demands Strategic Thinking in Present Market
## Existing Properties: A Popular Choice in Today's Real Estate Market
In the current real estate landscape, there's a growing preference for existing properties over new builds, as buyers seek immediate availability, established neighbourhoods, and clearer cost expectations. Tonino Raia, head of real estate at Vereinigte Volksbanken eG, shares his insights on this trend.
### Market Analysis and Advantages of Existing Properties
- **Increased Demand for Existing Properties:** The appeal of existing properties is evident in the growing number of buyers who prefer them. This preference stems from the ability to evaluate the property's condition and move into the home right after purchase. - **Slower New Build Supply:** New construction projects face delays due to regulatory hurdles, rising construction costs, and supply chain issues, making new builds less accessible or appealing in the short term.
### Practical Advantages of Existing Properties
- **Immediate Occupancy:** Unlike new builds that may require lengthy construction periods, existing properties offer immediate occupancy, providing a sense of security and stability. - **Established Neighbourhoods:** Existing properties are often located in mature neighbourhoods with developed infrastructure, schools, and amenities, promoting better community integration. - **Price Negotiation Flexibility:** Buyers often have more room to negotiate prices on existing homes compared to fixed-price new builds. - **Transparent Historical Data:** For existing properties, buyers can assess past maintenance records, structural history, and actual living conditions, reducing uncertainty. - **Potential for Value Add:** Buyers can renovate or customize existing properties to their taste, potentially increasing the property’s value. - **Less Risk of Construction Delays or Issues:** Existing homes avoid risks related to construction delays, defects, or changes in building plans.
### Tonino Raia’s Perspective
Tonino Raia emphasises that despite the allure of modern amenities in new builds, the practical advantages and current market conditions make existing properties highly attractive. Buyers benefit from immediacy, established surroundings, and clearer cost expectations, which often outweigh the appeal of brand-new construction.
### Accessing Expert Advice and Services
Tonino Raia's real estate team, consisting of 12 agents and an assistant team, offers comprehensive advice, including market analysis and determining the market value. They provide customised overall packages for advice and services, and their offices are located in two ImmobilienCenter in Reutlingen and Böblingen, as well as in 35 bank branches. For more information, visit www.diebank.de/immobilien.
The ImmobilienCenter in Reutlingen can be contacted at Tel. 07121 314-5850 or via email at [email protected]. Every bank employee has access to the entire real estate portfolio, which includes various price ranges up to exclusive properties. The marketing times for new builds are longer than for existing properties due to the current lack of price flexibility, according to Raia.
Interest rates are relatively stable, and insurance is available from the R+V group for real estate transactions. The real estate team's services extend to providing advice and packages tailored to individual needs, and the real estate portfolio is accessible to bank employees for potential customised solutions.
Demand for real estate remains high, supply is stable, and prices are steady, according to Tonino Raia. The team maintains good contacts with builders to offer attractive deals, and there are real estate offers from cooperative partners of the Schwäbisch Hall Building Society.
In conclusion, the advantages of buying existing properties, coupled with the current market trends, make them an attractive choice for many buyers. For expert advice and personalised services, consider reaching out to Tonino Raia's real estate team.
- In light of Tonino Raia's perspective, investors looking to delve into the real estate market might find existing properties an opportune investment, given their advantages such as immediate occupancy, established neighborhoods, and the potential for value addition.
- For those interested in indulging in the real estate market, especially in the context of existing properties, Tonino Raia's real estate team offers expert advice and services, including market analysis and personalized packages, to help navigate the buying process with clarity and confidence.
