This is the classic head-versus-heart debate of Israeli real estate. There’s no single right answer, only the answer that’s right for you. It’s a choice between the pristine allure of the brand new and the proven character of the pre-owned.
Buying new construction, or “from the contractor” (mehakablan), is incredibly appealing. You get a modern apartment, built to the latest codes, often with amenities like a secure lobby, underground parking, and a balcony (mirpeset). You get to choose your own finishes, from the kitchen cabinets to the floor tiles. Everything is fresh, untouched, and comes with a warranty from the builder for any defects.
But there’s a trade-off. You’re often buying based on a floor plan and a computer rendering. You might have to wait two or three years for construction to be completed, and delays are common. There’s also the risk, however small, of the developer going bankrupt before finishing the project (though there are legal protections for your money, like bank guarantees). You’re buying a promise of a future home.
A resale property, known as “second hand” (yad shniya), is the opposite. What you see is what you get. You can walk through the rooms, check the water pressure, and feel the soul of the building. The neighborhood is established, so there are no surprises about the view or the neighbors. The transaction is usually faster since the property already exists.
The downside? The apartment will likely be older. It might need renovations, which add to your cost and effort. The plumbing and electrical systems might not be up to modern standards. You won’t have a warranty, so if the air conditioner breaks a week after you move in, it’s your problem to solve. You are buying a home with a history, for better or for worse.
The choice comes down to your tolerance for risk and your desire for customization. Do you want a blank canvas with a long wait, or a finished portrait you can move into quickly but might need to touch up?
Too Long; Didn’t Read
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New Construction: You get a modern apartment with warranties and can choose finishes, but you face potential construction delays and are buying based on a plan, not a finished product.
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Resale Property: You know exactly what you’re getting in an established neighborhood and can move in faster, but the property is older and may require renovations at your own expense.
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The decision is a trade-off between the certainty and character of a resale versus the modern appeal and customization of a new build.
Weighing the pros and cons? I can give you an honest take on both options. DM me at Semerenko Group.
