The debate over whether one you should buy a new home or a resale property is an old one. Many homeowners remain particular about buying only new properties. If you are stuck between a new and resale property, here’s a pros and cons list to make your choice easy for you.
Weigh Your Benefits
One of the biggest advantages of choosing to buy a brand-new home is that you have a world of options available for you. From a luxury serviced apartment in Goa to a stand-alone villa nestled amid nature’s beauty, there are many choices available in the market and you can choose a new home based on your preferences without having to compromise.
Today, new homes are being built with sustainability, energy-efficiency, and smart technological standards in mind. While a resale property may be in good condition, the latest advancements of technology are unlikely to be included in older properties.
New homes are optimised for the end-user. The use of latest fixtures, top-of-the-line fittings, and smart technology are married with user-friendly operation, space optimisation, and stress-free performance to give homeowners the best of all worlds in their new home.
As per Clause 14(3) of RERA, developers are held liable to repair structural faults in a new property for five years after possession. With a new home from a reputed developer, you have a win-win situation in hand.
Resale properties, on the other hand, offer a few benefits too. You can check the property for water leakage or any other flaw that might have shown up in time. Since the neighbourhood is already set up, you get a better idea of who you will be living next to.
Before You Select One Home Over the Other, Consider This:
Developers offer competitive rates and flexible payment schedules for new properties.
Banks may offer home loans with caveats for resale properties, so you might end up with a reduced tenure for repayment, higher down payment, and much more paperwork to prove change in ownership.
New homes with top-notch amenities have greater potential when it comes to renting it out or living in luxury yourself.
New home have opportunity to get more growth and appreciation percentage are much higher for first 5 to 7 years.
With Axis Yog Villas, you have all the benefits of a new home and additional advantages that come with a managed property complete with a concierge desk, 24/7 housekeeping, rental management and property management services.