The Cons Of Resale Flat Purchase You Need To Know
Trying to decide whether to buy property in Mangalore, a new home, or a resale apartment? Read these pointers to better grasp the resale market.
The Facts of Resale Market –
Probably your major cue to consider the purchase of a resale independent house is its affordability. Usually, in prime areas, the prices of land surges and have low availability. This makes building a new independent house really difficult in high demand areas.
Better option to subside the issue is considering buying flats. You don’t have to pay for the land and its developments. Avoiding all the hassle you can just book your flat on the 16th floor and sip coffee to the view.
With nothing to worry about, flats provide ideal amenities for the best lifestyle you could ask for. In the secondary resale market, flats are at least 7-20 year old. The flats being old have wear and tear, which further affects its market value and quality of living.
Before you go house hunting, here are a few tips that you need to note down:
Research –
The biggest mistake of a home buyer is the lack of research. The buyer needs to set a budget and consider all their options. They forget that the budget of the resale flat in trending location can fetch them a brand new flat at a developing area. Good deals for a buyer are itself hidden behind their preferences.
Finance –
In the primary market, there are flexible payment options like EMI. Whereas the resale/secondary market may demand a huge down payment from your side. This may be both pro and con depending upon the financial plan of a buyer. Insurance policies are unfavorable towards resale flats, asking huge down payment with lesser refunds. Since the payment is processed directly to a resale flat owner, there might be few challenging obstacles.
A Home not like Home –
Resale property may need a lot of fixing. Cracked walls, leaking roofs, poor wiring, painting, all add up as expenses. While a new flat comes with brand new amenities and the latest facilities.
Resale houses usually have outdated fittings. For instance, the new modular MCB power boards have become a standard fitting than the older unsafe ones. Resale houses may miss out on new technology-based amenities like electronic card system, CCTV, smart home assistant etc.
A resale property holds the customizations and style of its previous owner. The wall paint, interior design, furniture may all define someone else. You will be moving into an ambience that you may not cherish. With a new house, you can coordinate your design and vibe with your builder who can build a house as you desire.
With an aim to develop the coast, Rohan Corporation is your best option for premium residential properties in Mangalore. If you are looking for a comfortable 1 BHK or a lavish 4 BHK Duplex apartments in Mangalore, you can find it all with the best amenities like swimming pool, spa and gym. We also provide you with safety guaranteed site visits, so you can witness our quality yourself.