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Buying an apartment is a very important and sensitive moment, everyone has a dream of having their own corner in every part of the world so that they can come home while traveling, no matter where it is, Europe, Asia or America, and the most important is to realize these dreams with minimal investment possible. As always, there is the word “but” that needs to be dealt with so that it appears less in our lives. And how to do it? There is an ideal solution – buying an apartment at the early stage of construction, where with each stage of construction, every square meter increases in price, which means that your investment is growing in front of your eyes, in the literal sense of the word.
The process of building construction can be classified into different stages:
- Foundation Pit (preparation of certain types of foundation, filling, and waterproofing)
- Construction Works (construction of the structure and roof of the building, installation of exterior walls and engineering networks, and interior finishing work)
- Putting Into Operation (completing the construction or reconstruction of the property)
You can buy an apartment at each stage of the building construction. The “Excavation” or “Foundation Pit” stage is the most profitable and attractive stage due to the lowest price. With the “Construction Works” stage, the building increases in price simultaneously with the appearance of new floors, and the progress of construction including all internal and finishing works (water supply, sewerage, gas, ventilation and heating, windows installation, walls, and ceiling finishing), and infrastructure improvement (parking, pool, and children play areas if included in the project). At the “Construction Work” stage, the square meter of the building is slightly increasing in price compared to the previous stage, but it is also more favorable for the final cost of the apartment. The “Putting Into Operation” stage has the highest price, as the price per square meter increases to the market price. At the final stage, there is a big benefit for you, as you get a finished apartment and don’t have to wait long. All listed stages of construction are good in their own way and are suitable for different goals, so you just need to decide and answer yourself such questions as “How long am I willing to wait?” and “How much am I willing to invest?” as the answer to these questions will depend on the final decision.
When buying a finished apartment in a new building, each country has its own criteria for the developer to deliver the building. And there are also different conditions for the delivery of the apartments by the developers themselves. When you’re buying real estate in Europe from developers, you can immediately move in, and only need to purchase furniture and appliances. In Georgia, it is not the case, it all depends on the developers and in what condition they deliver the property. In most cases, this is a “White Frame” or “Green Frame” condition. But some construction companies also offer TurnKey service, just like in Europe, where the apartment is ready for living or renting. In Georgia, the delivery condition of the apartments can be conditionally divided into several types:
- Black Frame
- White Frame
- Green Frame
- Premium Frame
- Full construction
When buying an apartment in any of the above finishings, after the apartment is finished and delivered by the developers, you get full ownership with all documents, and most importantly, you are provided with a Cadastral Code with which you can apply for a Residence Permit or a Permanent Residence Permit, for the legal stay in the country and facilitate the opening of a bank account, you can read more in our article by clicking on the link: Residence Permit in Georgia
What is Black Frame in Georgia?
Black Frame finishing – is when all types of cement and concrete work in your apartment or house are already finished. Such an apartment will look like a frame with built-in metal-plastic windows and entrance doors. There is no interior finish – no floor screed, no electrical outlets, walls are not plastered, and there are no partitions (so-called open plan). All communications are only brought to the entrance door (electricity, water, internet, and sewage are connected only in a few places such as the kitchen and bathroom). For full repairs, you’ll need to hire a construction crew and connect all the needed communications into the apartment, then proceed with the repair work. Some of the developers may also provide a construction crew and sometimes even their own design team for an extra price. The Black Frame has some advantages, for example, you can comfortably design the interior of your apartment as you wish because of the absence of partitions, also a very big advantage is the lowest price possible.
What is White Frame in Georgia?
White Frame finishing – is an apartment with some ready-made interior finish, such as screed, flooring, ceiling, wall finish, external windows and doors with glass packages, and metal entrance doors. Also, the internal partitions will be created, heat and sound insulation, conducted electricity, the lighting system (sockets with switches may be installed), gas, water, sewage, communication networks, electricity, and water meters, as well as central heating. The building of the apartment must come with the fire safety systems installed, and the entire building must be thermally insulated and everything must work properly.
The advantages of a White Frame condition are obvious, the apartment is ready for the start of the repair works (painting, laying the floor, mounting furniture) which saves a lot of time, and the main advantage is still a low price.
What is Green Frame in Georgia?
Green Frame finishing — is when the apartment is almost finished and comes with complete finishing work. When you enter this kind of property, you’ll see that the apartment is ready to live in, and you just need to bring and arrange furniture, as well as install appliances. The Green Frame condition has the highest price per square meter of the options listed above. We advise you to check with the construction company what is the criteria that they provide for the Green Frame apartment delivery, as they can vary greatly. Also, the developers may sell you a Green Frame without heating pipes or anything else done. All the specifics should be clarified in advance, as each builder has their own interpretation of the Frame types and the condition of the property delivery.
The advantages of Green Frame are obvious – the apartment is ready to move in. Also, you won’t need to look for a construction crew and complete the repair works (electrics, pipes, interior design), spend your nerves, money, and valuable time that can be spent on choosing furniture and the decorations for your new home.
What is a Premium Frame in Georgia?
Premium Frame finishing is an improved version of the Green Frame, as only the highest quality materials are used during the repair works, following European quality standards. The benefits of this frame are eco-friendliness, natural materials, strength, and durability.
What is a Turnkey Apartment in Georgia?
A “Turnkey Apartment” is a fully finished apartment ready for living or rental. The Turnkey renovations include a set of work carried out by one team of workers in cooperation with a design team (if provided by the construction company), starting with the design project and ending with a fully finished and furnished apartment ready for living. The design team develops a project that fully meets your requirements (including furniture and appliances), with an estimated cost considering all expenses in order to fit your budget. The lowest cost per square meter starts from $250, but this will depend on the quality of the repair works, meaning the price is not exact, but only a starting point for the repairs and design calculations. A separate contract is signed with the company, that describes all the services provided and defined obligations agreed upon by both parties. The renovation can either be done for the entire apartment or individual rooms.
The advantages of Turnkey Renovations include a known and pre-agreed budget written in the contract, all the repair works are possible without your involvement in the process, fixed deadlines, and a fully finished apartment without having to worry about anything.
To conclude, we would like to call your attention to the fact that you need to be very careful and clarify all the details before signing a property purchase agreement or a contract with additional services in order not to have any unexpected surprises in the future. Most of the developers after completing the construction of the building, are establishing certain periods for the renovations on the apartments. If you are not doing them within the established time and deadline, the company may impose fines for the delay. This is being done for the comfort of all residents of the complex, so once the renovation period is ended, you can move and enjoy life in your new home in peace.
Our company is happy to help you to process and verify the purchase contracts or extra service agreements with developers when you buy real estate properties with us without any additional commissions.