Despite the fact that most investors buying a house or an apartment decide to receive a ready-made property in a developer state, still many people do not fully know what this term means. Therefore, it is worth learning the details in order to avoid misunderstandings. So what elements are included in a development state apartment and what are not?
Although the term “developer state” is used very often, still its meaning is understood in different ways. It is generally accepted that a house or apartment in such a state must still be finished before it can be inhabited. But what exactly does it mean?
First of all, the exact description of the property to be transferred to the buyer is always contained in the preliminary contract, so if you have any doubts, take a look at this document. However it is usually assumed that developer state refers to an apartment in which:
In case of a house, it additionally refers to:
Developer state means the moment, in which finishing works can begin. You can read more about it here: https://rankomat.pl/nieruchomosci/stan-deweloperski-domu-i-mieszkania. However it is worth to realize, that the term “developer state” is not regulated by law, so always rely on the arrangements made with the contractor and written in the agreement
In Poland, almost 90% of buyers decide to buy properties in a developer state. What is the reason for such high popularity? First of all, the price is important, as an unfinished apartment may be even several dozen thousand zlotys cheaper
However, it is worth remembering that the costs of bringing the apartment or house to a turnkey condition will have to be borne anyway, so it is necessary to recalculate what is more profitable. What are the other advantages of buying a property in developer condition? These are:
These aspects may be very important for some investors, so it is worth to be aware of them
What should you pay attention to when insuring a property in a development state? First of all, in this case you should choose a policy concerning a house under construction, i.e. one that concerns:
Finishing an apartment or a house concerns the last mentioned point, so such insurance will be optimal in this case. If you want to know how much you will pay for such a policy, go to the website: https://rankomat.pl/ubezpieczenie-mieszkania-i-domu/kalkulator and use the easy-to-use insurance calculator.
You can also extend the policy to such risks as theft, robbery, flooding or flood.
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