Real Estate

The Perils of Purchasing an Unfurnished Apartment: Why Homeowners Are Crying Over Soaring Costs.

"The allure of a blank canvas: For those in the market for a new home, the appeal of a barebones apartment is undeniable. With a lower price tag than a fully finished apartment, it presents an opportunity to design and create a space that truly reflects one's taste and lifestyle. The promise of cost savings and a unique living environment is a tempting proposition for many."

Administrator

29 August, 2025

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The reality, however, often paints a different picture. Many families end up spending more than they anticipated, sometimes even exceeding the cost of a fully-finished home.

The Allure of Buying a Rough Work Apartment

A young couple shared their experience of buying a rough work apartment, which was a few hundred million VND cheaper than a fully-finished one of the same size. Their initial thought process was, “We can choose affordable materials and design it to our liking; it will definitely be more cost-effective.” This line of thinking is common, especially among first-time home buyers.

However, as they began the finishing process, they encountered numerous challenges:

Ever-Increasing Costs: From building materials to sanitary equipment, electrical and plumbing fixtures to lighting, walls, and flooring—everything had to be purchased new. With the volatile market prices, their expenses far exceeded their initial estimates.

Extended Timeline: Instead of moving into their new home right away, the couple had to endure months of construction, incurring additional rental costs and facing the inconvenience of temporary accommodations.

Management Pressure: Inexperience made them vulnerable to contractors’ extra charges, and their project fell behind schedule. The supervision required during the construction process also demanded significant time and energy.

Inconsistent Quality: While fully-finished apartments are constructed uniformly by the developer, the quality of post-completion apartments depends on the individual craftsmanship of hired workers, resulting in varying levels of quality.

In the end, the total cost of their finishing work exceeded the price of a comparable fully-finished apartment.

Purchasing a rough work apartment is not always a cost-saving option. It is only suitable for those with substantial construction experience, ample time for management, and financial backup. For young families or busy individuals, unexpected costs can quickly spiral out of control, turning a supposedly “affordable” apartment into a costly investment.

Before making a decision, buyers should carefully consider the following:

– Realistically estimate the total completion cost, rather than relying solely on initial estimates.

– Research the reputation and quality of the developer’s past deliveries.

– Assess your actual needs: Do you want to move in immediately, or can you wait a few months for the completion work?

While a rough work apartment might seem appealing due to its initial asking price, it may not be the right choice for everyone. Without proper preparation, buyers may end up spending more money, time, and effort than anticipated. A home is meant for comfort and peace of mind, and to ensure this, buyers should consider all potential expenses rather than focusing solely on the initial price.

New Home, New Debt: What to Inspect Before Buying to Avoid Costly Repairs

The joy of owning a new home can quickly turn into a nightmare if you don’t inspect it thoroughly before taking possession. All too often, new homeowners discover issues like water-damaged walls, peeling floors, or faulty electrical systems within weeks of moving in, leading to unexpected repair costs running into tens or even hundreds of millions of VND.