Nowadays, real estate buyers are increasingly faced with a choice: to purchase a ready-made apartment available for immediate move-in, or to reserve a home in a new development that is still under construction. Both options have their advantages and disadvantages. However, in the current market situation, new projects in the construction phase are offering more and more benefits.
In this article, we explore the key differences between apartments purchased during construction, new developments with grey or full finishing, and properties in older buildings, helping you make a well-considered and secure decision.
Kristīne Vizule, Real Estate Transaction Manager at Vestabalt, shares her insights:
“An apartment in a new project under construction is an investment with strong potential. One of the key advantages of purchasing at the construction stage is a lower initial price. As the project progresses and approaches completion, apartment values typically increase. This allows the buyer to gain not only a home, but also capital appreciation even before moving in.
Developers often offer flexible payment schedules, reservation options, and individually tailored solutions. This reduces the financial burden and enables buyers to plan their personal budgets more effectively.
New residential projects are built in accordance with current construction, energy efficiency, and safety standards. This means lower heating and maintenance costs, improved sound and thermal insulation, sustainable engineering solutions, and modern layouts designed to meet today’s lifestyles.”
One of the most common concerns among buyers is safety. Today, the market is dominated by projects financed through reputable financial institutions, with construction carried out according to a clear schedule and buyers’ contributions protected by formal contracts. By choosing an experienced developer and a professional sales partner, purchasing an apartment at the construction stage becomes a predictable and secure transaction.
Apartments with grey finishing offer the opportunity to tailor the interior to individual needs, select materials and design solutions, and maintain control over renovation budgets. This option is particularly attractive for buyers seeking a personalized, non-standard living space.
Fully finished apartments, on the other hand, are ideal for those who wish to avoid renovation work, move in quickly, or begin renting the property immediately, while having a clear understanding of the total investment costs from the outset. In both cases, new developments offer lower operating costs and construction warranties.
Apartments in serial or pre-war buildings may initially appear more affordable; however, several long-term risks should be considered. These include higher utility expenses, outdated engineering systems, the need for ongoing repairs, lower energy efficiency, and limited layout modification options. Often, such properties require additional investments that are not immediately apparent at the time of purchase.
So, which option is safer today? When evaluating transaction security, long-term costs, and value appreciation, new developments – especially those purchased during construction – are currently among the most rational choices. They offer predictable expenses, modern living conditions, higher future liquidity, and the ability to adapt the home to individual preferences.
The key prerequisite is selecting a reliable project and a professional partner who ensures a transparent and well-managed transaction process.
The choice between a ready-made apartment and a purchase in a project under construction is not just about today – it is about quality of life, financial stability, and long-term value. This is why an increasing number of buyers are choosing new developments that combine comfort, security, and investment potential in a single decision.
If you are considering purchasing a home in a new project under construction, we invite you to explore “Bordo Rezidences” in Torņakalns. This modern residential development offers thoughtful layouts, energy-efficient solutions, and high construction quality.
“Bordo Rezidences” provides the opportunity to:
- purchase an apartment during the development stage with strong growth potential,
- choose the most suitable layout and finishing solutions,
- invest in a safe and transparent project with a clear development vision.
Learn more about the project and available apartments at www.bordorezidences.lv or contact our team to arrange a personal consultation.
