He explained what is meant by full and partial finish: buyers are often misled

Home finishes are generally divided into three main levels: “no finish”, “partial finish” and “full finish”. Mindaugas Statulevičius, director of the Lithuanian Real Estate Development Association (LNTPA), explains that the main differences between these three housing options are the communications and some of the amenities.

“The main differences are that the partial finishing includes certain parts of the equipment that no longer need to be carried out by the buyer, it is carried out by the developer, it is included in the price of the house and the builder assumes the responsibility and guarantee of its installation . What is a complete finish, there is no regulation, each developer imagines differently, because some offer installation even up to spoons and forks, while others simply understand that it is a floor, bathroom installation, they also need to buy upholstered furniture, tools, etc. . Therefore, the conditions must be read carefully ”, warns the interlocutor, adding that many times the developers do not offer a complete installation option, but several.

“It is cheap, medium and luxurious. It depends on the price, because the cheapest installation can start from 200 Eur per m2, on average about 300 Eur per m2. m, and a more expensive finish starting at around 500 euros per km2. meter. But it is already possible to expect that the kitchen is equipped, etc. ”, Says M. Statulevičius.

According to the owner of the LNTPA, homes that are sold completely unfinished are those when a home is sold that has the status of incomplete completion.

“In such cases, people need to install a recovery system, underfloor heating, install stairs or the like. People have the opportunity to do certain engineering jobs on their own, maybe to save somewhere or something. but I think these options will gradually decrease ”, explains M. Statulevičius.

Each finish has advantages and disadvantages

According to M. Statulevičius, those residents who buy a home with a full finishing service have fewer financial worries about its installation, as the price of the home installation service is included in the loan amount provided by the bank.

“If the house is bought with a loan, you can get a loan for the installation part. In other words, if the apartment is bought with equipment, it is at least 85 percent. You can borrow from the bank. It is not It is necessary to take quick credits or similar. The second advantage is the guarantees. What the developer or the installation company proposed by him does is established in the contract and the buyer receives a guarantee of five years for these works, 10 years for hidden works, 20 years for intentional defects. It is an economic incentive for a person and a question of guarantees that if something happens, they can apply and the builder will authorize the company to repair it, “says M. Statulevičius.

On the other hand, the price of furnished homes is higher and cannot be bitten by everyone. Banks can agree to finance the home purchase, but only the actual amount for which the equipped home will not be able to purchase. Also, in some cases (especially when buying a home from unreliable developers) it can be very difficult to force the seller and the company that managed the home to fix installation deficiencies that have arisen after a while. Businesses go bankrupt, disputes go to court, etc.

However, according to M. Statulevičius, fully finished houses are becoming more and more popular in neighboring countries. In Latvia, for example, practically all apartments are sold with complete finishes, Poland is also following this path. The expert says that in Lithuania, in the near future, the popularity of fully finished houses may also grow.

Partial home decoration also has advantages. One of them is that the colonist individually plans his home, chooses materials, furniture, etc. However, on the other hand, according to M. Statulevičius, in such cases the buyer runs the risk of being misled.

“This way it’s still in the shadows, maybe that’s why it’s relevant to some people, maybe someone with unaccounted income wants to install a home, save taxes. Although the state now encourages and is transparent this market, as part of the personal income tax can be recovered for housing services, there are growing incentives here. However, it is often the case that when a person looks for masters, they are not found, they disappear, they are not responsible for the deficiencies made, etc. ”, Explains the real estate expert.

Be sure to critically evaluate the partial finish description.

Real estate developer. Kęstutis Taletas, Head of Design Management at Eika, says in the report that the partial finish concept raises the most questions and buyers should carefully study the partial finish description.

“Partial finishing has long been understood as an apartment with partitions, plastered walls, electrical and low current points at the project locations, san. Node and kitchen area, with gutter that leads to the san. device locations. The ventilation system was also included in the partial finish, if it was foreseen in the project and it was necessary to ensure the energy class. It is true that in recent years the descriptions of the projects include “complete partial finishing”, “incomplete partial finishing” and similar terms, “says the expert.

According to the expert, the description of the partial finish is like a “technical specification” of the house, according to which the buyer can compare different apartments. “The buyer’s first step is to critically evaluate the partial finish description. If you are lacking skills, consult family or colleagues who are familiar with the construction field, or trust a competent sales representative,” advises K. Taletas.

In most cases, reliable and end-of-life companies provide all information online, detailing all the benefits of partial finishing, thus openly showing the buyer which product they will buy.

Apartment comparison: why is a lower price not the main criterion?

According to Talet, after a critical appraisal of the partial finish, the next step for the buyer is to understand what constitutes a higher cost of housing.

“Imagine that you have buildings of identical shape facing each other on the same street. And you don’t decide where you want to buy an identical 50-square-meter flat. Both with partial completion, only One apartment costs 95 thousand. Eur, and apartment B – 85 thousand. EUR. The price difference is around 10 percent. it is significant, that it can even lead to the decision to buy a cheaper home, ”says K. Taletas.

True, the rooms of the more expensive apartment A have internal plasterboard and san. in the units: masonry partitions, equipped with a sand concrete floor with lubricated waterproofing, individual ventilation unit with recovery, air supply and extraction points are led to the premises, the pipes are taken to the place of the sanitary equipment and they end with elbows of household appliances, to which you can immediately connect your sink, bathroom, others. Sanitary devices and household appliances. The cables are routed to the end points and terminated with mounting boxes. For comparison, in apartment B there are only san pipes. in dependence and kitchen area, sewer connections, electrical and communications introductory panel.

The expert proposes to calculate how much time and money will have to be invested in apartment B so that it can be equivalent to apartment A in terms of installation and finishing.

“So it will cost about 1,900 euros to install the internal partitions, pour the sanitary floor. in the unit – 500 Eur, ventilation system with balancing works – 2,400 Eur, water supply and drainage to the end points with dredging and plastering of pipes – 600 Eur, electrical point installation work – 1,800 Eur. For Therefore, in addition, all the works can cost about 7,200 Eur. Of course, it should not be forgotten that in addition you will have to supervise the entire work process, hire 3-4 individual contractors or foremen, verify that the work has been done correctly. And only after this work, the buyer will be able to invite an interior decoration contractor, ”says the home design expert.

He estimates that the buyer of apartment A will move into the new house in about 3 months, and the buyer of apartment B in 5-6 months after the stressful and poor situation.

So in summary, when buying a new home, it is very important to properly assess the completion of the partial finish, compare the product not only in terms of price, but also in terms of its specifications, as you usually do when buying a New mobile. It is recommended to write down all the pros and cons in the table and calculate how much it will cost you extra time and money.