A leading player in the real estate market, COGEDIM applies the same strict rules to all its developments, whether new or pre-owned. We bring our expertise to bear both in the creation of exceptional new buildings and in the intelligent, high-quality renovation of older and more recently-constructed properties. Essentially a question of personal preference, the issue of whether to buy new or pre-owned nevertheless merits a close examination of the respective benefits and disadvantages. Panorama.

Buying new

Principal benefits

• Quality of design. Functional and well thought-out: no redundant space, optimum freedom of movement and interior light.
• Modern equipment. That complies with the latest quality and safety standards (thermal and noise insulation). Heating savings.
• Customization. Choose the facilities and materials you want from our pre-selected ranges. Decorate your apartment exactly the way you want, choosing from an extensive selection of tiling, earthenware, floor coverings, colours etc... Buying off plan also often allows you to have modifications made to suit your needs and lifestyle and even to the way your apartment is laid out (opening up a kitchen, moving a partition, converting a bedroom into a living room, etc.)
• No upgrades needed. No major repairs for the first few years.
• Purchase costs (notary fees, taxes, etc.) Lower than for a pre-owned building (2-3%, versus around 7%).
• Warranties. The constructor is responsible for the quality of what it sells you for a period of 10 years.
• Fiscal advantages. French law (Robien/Borloo) on rental investment. In a number of towns/cities, exemption from property tax for a 2-year period following the property's completion.

Main disadvantages

• Purchase price. Often higher (on average, 10% to 20%) than when buying pre-owned, although better use of space helps compensate for this.
• Availability. Typically, buying new means buying off plan. This means having to wait several months (it can often take over 2 years to construct a new building) before you can take possession of your property. Against this, buying new gives you the opportunity, within limits, to adapt your apartment.
• Financing. Buyers often have to pay the first instalments at the same time as they are paying expenses (rents or repayments on an unsold home) relating to their current property.

Buying pre-owned

Principal benefits

• "Cachet". The charm of the old: classic flooring, distinctive spaces, the high ceilings....
• Purchase price. Purchase prices are generally more attractive than when buying new.
• Rental return. Purchase/rental price ratio often higher and known in advance when one buys occupied property. Tax relief on the sale price in respect of the purchase of an occupied property can often mean you come off pretty well financially when repossessng it the end of the lease, in order to live in it yourself or to sell it on at a profit.
• Immediate availability. The real estate you buy already exists, you can visit it and - depending on what you want to do - either move in or rent it out quickly.
• Investment income. Buying an occupied apartment allows you to receive rent immediately, avoiding interest payable during construction, and also to acquire real estate in a district you like, as supply is often greater in pre-owned properties.