How to Save Money When Buying an Apartment in New Construction: 6 Tips

Elena Eller explains how to buy an apartment and avoid overpaying. It turns out that even the season when you make a deal affects the price of housing, and promotions and discounts are not always just a marketing trick.

Elena Eller is an expert, designer, and blogger at Ivoree

Promotions and Discounts

This is not always just "dust in the eyes." Sometimes it's more profitable for a developer to quickly sell an object to reinvest the money. Often, when fully paid (less frequently — with a mortgage), the developer offers a good discount of 6–8%, sometimes even 10%.

Important: to avoid falling for marketing tricks, try to periodically monitor websites and keep track of prices. This way you can create a cost change chart and see where the good deal is, and where you're being tricked.

Full Payment

Usually, in this case you will get the maximum possible discount. If you're short on funds, it's better to borrow from friends or take a consumer loan than a mortgage. For example, with full payment, your discount will be 4% higher. Carefully read the purchase conditions — often developers offer interest-free installment plans.

Off-Season

Usually in summer and holidays, you can find the most attractive offers — demand for real estate is lower during this time.

Special Offers

Parking or warehouse space as a gift sometimes fully covers the maximum possible discount on an apartment.

Important: when considering several options, one without a discount but with parking, and another with an 8% discount, calculate how much the parking (if needed) will cost separately and weigh the price difference to make your decision.

Pre-Completion Renovation

This offer from the developer will be more beneficial than a DIY pre-completion renovation. Bulk purchases and a permanent staff allow the construction company to prepare an apartment quite cheaply for further finishing.

Important: if you want a designer's renovation, ask for an apartment without internal partitions so you don't have to pay for demolition.

Real Estate Agent Help

If you don't know all the pitfalls in real estate deals, the help of a real estate agent might cost less than future problems. Moreover, besides full purchase support, they may also offer interesting housing options.