Is a new build always more expensive?

Not necessarily. The sale price can be low, but the debt share and charge raise the total cost. Compare the debt-free price.

What is a leased plot?

A plot the housing company does not own but leases. The plot rent shows in the charge and can rise when the contract period ends.

When is an old home cheaper?

Often when renovations have already been done or the upcoming renovation is reflected in the price.

New build or old apartment: costs and risks compared

By Lumi · Updated: Jun 19, 2026, 12:00 AM

Differences between a new build and an old apartment: cost structure, renovation risk, the company loan and a leased plot. Which suits you — a comparison before buying.

Important: A new build has low near-term renovation risk, but the company loan is often large and the plot may be leased. An old home has higher renovation risk but more predictable costs.

A new build and an old apartment differ most in cost structure and risk. Neither is automatically cheaper — the total cost and your own situation decide.

The cost-structure difference

In a new build the sale price can be low, but the debt share and finance charge are large. In an old home the sale price is often higher, but the company loan smaller.

Always compare the debt-free price and monthly costs, not just the sale price.

Renovation risk

In a new build, pipe and wet-room renovations are not due for decades. In an old 1960s–1990s building, a renovation may be coming soon.

In an old home the risk can be priced in: once you know the construction year, you know the renovation window and can negotiate on price.

Company loan and leased plot

New builds often carry a large company loan and sometimes a leased plot, whose rent can rise when the contract period ends.

Check whether the plot is owned or leased, and how much the plot rent is — it affects the charge significantly.

Which suits you

If you value predictability and little renovation worry in the near term, a new build may suit. If you want a lower monthly cost and accept renovation risk, an old home may be cheaper.

The building's age, renovation risk and area profile are shown by address in the Lumi report — use them in the comparison.

Frequently asked questions

Is a new build always more expensive?: Not necessarily. The sale price can be low, but the debt share and charge raise the total cost. Compare the debt-free price.
What is a leased plot?: A plot the housing company does not own but leases. The plot rent shows in the charge and can rise when the contract period ends.
When is an old home cheaper?: Often when renovations have already been done or the upcoming renovation is reflected in the price.