Old or new construction
One of the most frequently asked questions after “When will property prices drop?” is “New or old construction?” Both types of construction have their pros and cons, so it’s important to know the main differences between new and old construction to make the best choice in a specific situation. In today’s article, we present some of the main advantages and disadvantages.
Panel Construction When it comes to buying a property that is panel construction, buyers have many conflicting opinions. Some people prefer it for its real square footage, while others fear that their home will lose value over time. This type of construction is quite characteristic of Bulgaria. Entire neighborhoods consist of such buildings. In Bulgaria, their construction began in 1958. The first panel block is located in Sofia on Naycho Tsanov Street 66, and the panels for its construction were produced the previous year. Shortly after, experimental construction of three- and four-story panel buildings began by the regional design organization in Ruse.
Advantages:
- Low price is perhaps the most attractive factor when choosing such a property. Of course, the price of a panel apartment also depends on many other factors.
- The absence of common areas is another key difference from new construction. The square footage of panel apartments does not include ideal parts, basements, and balconies.
- Rooms in panel buildings are much better distributed and more spacious compared to new construction.
- In most panel apartments, the kitchen is separate, which is a significant advantage for many households.
Disadvantages:
- Often, buying an apartment in a panel block brings many renovation tasks such as replacing windows, flooring, plumbing, and more.
- Poor energy efficiency is undoubtedly one of the most significant drawbacks. These homes quickly adopt the outside temperature, making them very hot in summer and very cold in winter. Bulgaria has adopted a National Strategy until 2030 with ambitious goals for measures to improve energy efficiency and renew buildings.
- The lifespan of this type of block is 50 years, and many of the buildings have already exceeded this period. However, in recent years, a large number of them have been renovated, which has extended their operational period.
Brick Construction Brick construction is undoubtedly the most widely used and preferred type of construction, not only in Bulgaria but worldwide. This type of building is constantly being developed to achieve maximum characteristics that meet the high demands of construction.
Advantages:
- One of the main advantages of brick homes is that they can retain heat for a longer time indoors, meaning higher energy efficiency for brick buildings. The level of sound insulation in brick construction is also significantly higher.
- The new and modern appearance of buildings is eye-catching, and due to the different technologies used in their construction, any architectural ideas can be realized.
- Brick buildings have great strength and durability. With proper and quality laying of brick walls, a brick building can last without repair to the load-bearing walls for up to 130 years. Brick walls also show a high degree of resistance to weather conditions and seasons – over time, their strength, density, and thermal performance remain unchanged.
Disadvantages:
- High price is not unjustified, as this is the most sought-after construction type when purchasing property. It’s also important to remember that this type of housing retains its value over time.
- A high percentage of common areas is also one of the disadvantages of brick buildings.
Both types of construction have their pros and cons. The decision is entirely yours. Regardless of which one you choose, carefully inspect the building where your potential new apartment is located.
