White version or turnkey renovation. Which is more profitable?

Surely, each of those who are planning to buy a new home has come across the first and most important question with which the search process itself begins: to choose an apartment in a white version or with a turnkey renovation. We, the CasaHub team, have analyzed both options and identified a number of strengths and weaknesses for each of them.

So, let's start with the option of purchasing an apartment in a white version.

This means that the apartment will be equipped with a door, double-glazed windows, the walls and ceiling will be finished with basic finishing materials.

*In fairness, it should be noted that apartments in this version often require additional finishing with higher quality finishing materials. If new owners want to change the location of outlets or install a washer/dryer or dishwasher in a different location, there will also be interference with the walls.

Advantages of buying an apartment in white version:

• Buying an apartment in the white version (especially if the house is under construction) will allow you to save significantly (20-40% cheaper than renovating);
• The opportunity to sell a more expensive apartment after renting out the house, even without renovation (so you can earn about 20% more than the original price), with renovation - more than 40% more than the original price;
• The opportunity to begin repairs before the house is put into operation (thus, saving time, you will be able to move into a new apartment immediately after receiving documents on commissioning);
• The ability to check the quality of all work on the house - wall thickness, quality of plaster and insulating materials;
• Possibility of making changes to the apartment layout at the initial stage;
• The ability to make repairs and furnishings exactly according to the design and individual wishes, select finishing materials, even a team of workers;
• An ideal option for those who are in no hurry to move.

Disadvantages of purchasing an apartment in white version:

• Lack of confidence that the developer will not go bankrupt, that he has all the documents in order, that he has no prohibitions from the Construction Supervision Agency, that the house will be put into operation on time;
• The need to have a lot of free time and mobility to manage the renovation process in the apartment;
• Duration of repair (depending on design, complexity and area from 3 to 12 months);
• Extremely high difficulty in finding a professional team of workers (numerous cases of fraud, poor quality services and disappearance of teams from sites);
• The need to travel daily to construction and electrical stores (each pipe, faucet or door handle will have to be selected from thousands of proposed models and agreed on technical parameters);
• Difficulties with high-quality execution of built-in furniture (kitchen, pantry, etc.);
• Almost daily payments of large sums of money.

Conclusion: White apartments are an ideal option for those who want to make the right investment, have another permanent living space and are not tied to office work. Of course, investments in this case pay off with significant income, but only if you take on all the risks.

Next, we’ll look at the second option – buying an apartment with a turnkey renovation.

This option assumes that the house has been put into operation, and the apartment is finished and equipped with furniture and appliances (in whole or in part), with possible occupancy as soon as possible.

*However, in fairness, it is necessary to mention cases of the sale of turnkey apartments in “problem” buildings that have not received a certificate of commissioning. Typically, such offers have a lower price, and most often cause a lot of trouble for new owners.

Advantages of buying an apartment with turnkey renovation:

• Immediate move to a new home - in a few days the buyer becomes the owner with official documents;
• Confidence in relation to the development company;
• No need to stay in a rental for 3 to 12 months, in the absence of other living space during the renovation;
• Significant savings of time and resources on searching for interior design specialists and work crews;
• Elimination of any hassle of managing the repair process, traveling to hardware stores, ordering furniture, etc.;
• Elimination of stressful situations due to improper execution of furniture, interior doors, etc.;
• Very easy personalization of a new room by adding decorative elements;
• A very large number of offers in any area of ​​the city, with designs to suit every taste.

Disadvantages of buying a turnkey apartment:

• Lack of ability to control the implementation of repair work;
• Difficulty checking the quality of communications, finishing materials, etc.;
• Inability to make changes to the layout of the apartment;
• Difficulty finding an apartment with a design that is 100% suitable;
• Often overpriced.

Conclusion: Turnkey apartments are an ideal option for those who need to move in as quickly as possible, have a tight work schedule, and don’t want to manage the renovation process or travel to hardware stores. Thus, with just one payment, in just a few days the new owners will be able to enjoy their new home without any hassle.

Approximate calculations:

Apartment in white version:The cost of the apartment is 45,000 euros + the cost of repairs is 20,000 euros + the cost of equipment and furniture is 10,000 euros = 75,000 euros,

Duration of the move: from 6 to 12 months.

* the price and duration of the move are approximate and may vary significantly depending on the initial purchase cost, the price of building materials, the selected brands of equipment and furniture, etc.).

Turnkey renovated apartment: The cost of the apartment is 85,000 euros + The cost of decorative elements and additional equipment is 5,000 euros = 90,000 euros.

Duration of the move: from 1 to 2 weeks.

*price and duration of the move are approximate and may vary significantly depending on the initial purchase price, selected brands of equipment and furniture, etc.).

Conclusion: Both of the above options have a number of unique advantages depending on the needs of buyers - for the fastest and hassle-free relocation, or vice versa for long-term and profitable investments with the ability to manage all processes.

There are thousands of offers on the CasaHub platform, both fromturnkey renovation, and inwhite version, and choosing the best option depends only on your preferences.

Conclusion

The choice between a pre-finished apartment and a ready-to-move-in apartment is becoming a key decision for those looking for a new home. The CasaHub team analyzed both options, highlighting their advantages and disadvantages.

Choosing an apartment with a rough finish presupposes the presence of doors, double-glazed windows and basic finishing of the walls and ceiling. Although this option has a lower initial cost, it may require additional work to achieve a higher quality finish. Benefits include significant savings, the ability to begin renovations before the home is in use, and freedom in design choices. Disadvantages include risks associated with the developer and the need to personally manage the renovation process.

On the other hand, purchasing a ready-to-move-in apartment allows you to immediately move into ready-made and equipped housing. This option eliminates the hassle of managing repairs, but may include difficulties in checking the quality of work and limited customization options. Benefits include the convenience of a quick move, confidence in the developer and savings in time and resources associated with finding design specialists and a construction team.