Juan Manuel Tapiolathe real estate developer, explained in an interview with channel The five basic keys to buying a property in Bir without putting your capital at risk.
Construction, the first critical candidate
to TapiolaChoosing an apartment in Bir does not start with the design or location. He categorically affirmed that “The most important thing when buying an apartment in Bir is not the project, not even the location: what you have to see is who is doing it, the builder“.
As he explained, the biggest risk is not only that the work is not completed, but that it is delivered late or of a lower quality than promised. Therefore, his first recommendation is to analyze who is behind the project.
Asked what would happen if the buyer made a mistake and the work was not completed, he was clear: “The bad thing is that the person usually does not get the money back.“, as judicial procedures are usually long and have little real return. Hence the necessity of applying its five keys before signing.
The second recommendation is surprisingly simple: Google search. Tapiola stressed, “Google is an excellent resource because there is no middleman: the client, Google, and no one in the middle“.
He suggests looking for creators with at least 500 reviews and four or more stars, as the low volume of reviews may be influenced by family or friends. “There are very popular construction companies that once you go to Google you will never buy from them again.“, to caution.
Financing, inspection and after-sales testing
The third key is monitoring the type of financing. Tapiola He explained that, contrary to what many people think, the longer the financing period, the safer the process is. Reason: Construction incentive. If you will be collecting for many years, it is in your best interest to deliver well and on time. On the other hand, when you receive all the money up front, the incentive is diluted. “It is convenient for financing, and the longer it takes, the safer the process becomes.“, summed up.
The fourth key is to visit buildings previously built by the same company. But he added an extra step that few do: ringing doorbells and talking to residents. According to him, buyers are usually willing to tell their experience, whether it is good or bad, and the most important thing is how was the after-sales service. “What is important is how the builder reacted when he handed you the apartment.“, he noted.
Basic questions like whether they answer the phone or respond to complaints are essential.
Finally, the fifth key points to a fact that few know: that buildings have “maturity“. Tapiola He explained that after 50 years, expected malfunctions begin, especially in central facilities. “Buildings have an expiration date, like milk: after 50 years they start to fall apart“, he stated.
He recommended adding 30% of the estimated value for repairs and exceptional expenses when purchasing a property that is more than half a century old.