The Home Buyer's Guide. The recommendations of the specialists: “The things that cannot be changed are much more important”

The purchase of a home is, for most Romanians, the most important financial transaction in life. In a dynamic real estate market, the decision to buy an apartment or house can become overwhelming. Real estate agents Amalia Tudor and Şerban Trîmbitașu explain the essential steps that a buyer must go through: from defining the need, to verifying the property and up to the legal securing of the transaction.

PHOTO: Inquam Photos / George Călin

The buying process begins long before the actual viewing of the properties. The often overlooked first step is an honest introspection into the reasons behind the purchase.

Real need or investment

“It's good to start with need. People generally buy when they have a need, maybe it's more space, the one they live in now is insufficient or maybe it's too big and they have high maintenance costs. Sometimes they live too far from work or the kids' school and spend too much time in traffic.” explains Amalia Tudor.

On the other hand, economic instability pushes those with savings towards real estate: “It is also the situation in which they want to invest, when they have a financial surplus and see that, due to inflation, the money loses its value”she adds.

The mistake of over-indebtedness

A crucial aspect is the balance between bank rate and quality of life. Young people are advised not to sacrifice everything for the walls.

“We've noticed that young people, or some of them, want to keep their lifestyle and don't want to go into too much debt. It's good for people to look at what they want more. They can save and put in more effort and move into a more expensive property than they can afford, but they're going to downsize their lifestyle.” warns Amalia Tudor, recommending collaboration with a credit broker to avoid the burden of installments.

Attention to the emotional background: Do not buy furniture

A major mistake pointed out by both specialists is focusing on finishes at the expense of structure and area. Şerban Trîmbitașu draws attention to the risk of being deceived by a facade renovation.

“First of all, be sure to pay attention to the things that cannot be changed, because most buyers get carried away and buy on emotional impulse. They buy fooled by a furnished kitchen and ignore the fact that maybe the block was built before the earthquake or maybe even has a seismic risk. The things that cannot be changed about a building, such as the year of construction, compartmentalization, floor, location, are much more important than improvements.” declares Şerban Trîmbitașu.

The myth of changed installations

An extremely important technical aspect, often neglected or misunderstood by buyers, is the condition of the electrical installation. Şerban Trîmbitașu dismantles a myth frequently found in sales ads:

“There are many who say that they have changed the electrical installation, but in fact they have only changed the switches, sockets and the safety panel. The important thing is the cable behind the wall. (…) The electrical installation is a very important aspect, somewhere at 30% of the renovation cost, because a new electrical installation means drilled walls and automatic grout everywhere. Basically, the apartment comes almost from scratch.”,
shows the real estate agent.

The technical solution: The real estate expert

To avoid unpleasant surprises, the firm recommendation is to hire a technical specialist before signing.

“I recommend everyone to come with a real estate technical expert if they have decided to buy an apartment. They pay a fee of 300, 400, 500 euros, and the man has specialized equipment to actually see the iron in the concrete and notice any cracks.” explains Trîmbitașu.

Legal certainty: buyer's notary

The legal side requires maximum vigilance. Amalia Tudor recommends that, before signing, buyers ask the notary to draft the documents to study them carefully or even with a lawyer. Şerban Trîmbitașu completes with a specific procedure, designed to secure the investment from the very beginning: the notary's opinion.

“We live in the age of the Internet, to send the documents by email to the notary, to check them and ask for a notary opinion. It is a document that the notary draws up, it is not expensive, I think around 200-300 lei, in which he is obliged to detail all possible ambiguities and imperfections.”, Trîmbitașu shows.

Why it is vital to note the pre-contract in the Land Register

Another important caveat concerns the risk of double selling. To avoid the nightmare situation where an owner takes the advance from several buyers for the same apartment, the entry of the promise in the Land Registry is mandatory for the buyer's peace of mind.

“It would be ideal to conclude a preliminary notarial contract. (…) From my point of view, it is a very important aspect, because once entered in the land register, it appears everywhere and we get rid of the emotion of that situation in which an owner promises the same apartment several times, to several people”, explains Şerban Trîmbitașu.

Exclusive representation

To navigate through this complex process – from the analysis of the area, to the technical and legal verification – Amalia Tudor emphasizes the advantage of an agent who works only for the buyer:

“Things are clearer when the estate agent is only one side of the transaction. An estate agent can help with identifying the property, negotiating the terms of sale, doing a comparative market analysis of the property.”,
pointed out Amalia Tudor.