Tama 38 stands for National Outline Plan in Hebrew. Tama 38 involves renovating, revamping, and strengthening old buildings in Israel against earthquakes and the addition of new features such as balconies, elevators, etc.
The rationale for doing so was to improve the standard and quality of buildings in Israel, as Israel is said to be prone to earthquakes. New floors may also be added to the building, thus allowing the developer to sell them out and profit from the project.
Tama 38 Vs. New Buildings
Tama 38 projects allow for the reinforcement of buildings against earthquakes without any extra cost. The foundation, walls, and pillars are reinforced and strengthened adequately. New features like balconies, elevators, parking lots, cladding, etc., are also added to the building to give it a fresh and contemporary look. Upon completing the renovation, the building is as good as new and may even be unrecognizable to a person accustomed to its old features.
Additional two or two and a half floors are added to the building. These apartments are usually cheaper than the entirely new apartments, saving the buyer some tens or even hundreds of thousands of shekels. For example, check the following Tama 38 project in Neve Hen, east Tel Aviv.
Owners of the existing apartments, who benefit from projects basically for free, often put their apartments up for sale. However, these apartments might not be as good as the new ones because of the planning constraints, thus making the apartment planning somewhat weird or inconvenient. Therefore it is always necessary to check all the details of the apartment. For example, check this one in Raanana.
How to Decide
Choosing either a brand new apartment or a Tama 38 apartment is dependent on several factors.
However, if there is a strict budget to be followed or a cost-effective option is to be considered, then a Tama 38 apartment is the best option as it will provide a relatively new space for a reasonable amount.
On the other hand, a new building will be a great choice when there is enough cash, but the cost may not be favorable. You also have to consider your desired location. Most Tama 38 apartments are situated in relatively old areas as the buildings have been in existence for a while. New buildings, however, are usually located in developing regions.
Whatever one’s preference, our advice will be to ignore the differences in the early stages of your search. Make a list of the best properties based on your requirements, and think about what you like the most. If one of the preferred options is a Tama 38 project, recheck with your agent and lawyer regarding the project, and if everything is fine, like in most cases, you are welcome to proceed.
Tama 38 apartment can give you the satisfaction of a new project you desire while seamlessly fitting into your budget. But no worries; if you prefer a completely new project, there are plenty of these all over Israel.
Remember, choosing a suitable apartment for your comfort doesn’t have to be a hassle anymore; having all the necessary professionals by your side will prevent you from making mistakes and lead you to the property of your dreams.
Arthur Yakubovich is a CVO of Buy Home in Israel, your local guide to real estate in Israel. You can reach him at email@example.com or visit the website to learn more about Israeli real estate.