New Apartment vs Resale apartment! What To Buy?

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    29-Jun-2015
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Choosing between a new apartment as opposed to a resale one presents a host of challenges to the buyer. It places the buyer in a conundrum as to which option to go for, especially when he/she has to take a decision based on which one outweighs the other in terms of pros and cons. Arriving at an appropriate decision requires considerable prudence and can be time consuming.

Transcript of New Apartment vs Resale apartment! What To Buy?

  • 1. Killer ways for engaging residents in apartment community activitiesKiller ways for engaging residents in apartment community activitiesTo Buy Or Not To Buy?New apartmentVsResale apartment

2. 1) The most obvious reason could be the cost factor.2) When the options available are not suitable for the buyer in terms of its value or other considerations.3) The buyer may not be aware of new projects coming up in the area due to paucity of adequate research.4) Buyers would also prefer resale apartments as they would want immediate possession of the apartment.Why Resale apartments? 3. 1) The most important factor that people prefer a new apartment is the psychological factor governing buyers.2) A new apartment will have a newer feel and ambiance with new fittings and fixtures that come with a minimum guarantee of quality and performance.3) Besides having a new look and feel about it, new apartments are equipped with the latest products and features in terms of various appliances, fixtures and fittings by employing the latest technology.Why New Apartments? 4. 1) The building might need renovation like changing the paint, flooring, plumbing, wood work etc. which would be additional cost.2) Sometimes the old owners may not have cleared property related dues and the new owner is expected to pay the dues.3) The return on investment values directly depend on the age of an apartment, so as the building gets older, the return value becomes lesser.4) The home insurance value for a resale house is less when compared to a new one due to the wear and tear.Why not to buy a resaleApartment? 5. 1) The cost of newly launched or ongoing projects may be lesser that the resale value of apartments in a particular area.2) The possibility of resale apartments costing higher than newly launched apartment projects is high in many cases as the cost of original purchase of such resale apartments would have been relatively much higher.3) Resale apartments even if modified and re-painted, may have many fixtures and fittings that would have been subject to wear and tear with time.Why New Apartments over ResaleApartments? 6. Before buying a New or a Resale Apartment, a buyer should evaluate the pros and cons of the available options clearly.Cost should not be the lone consideration while arriving at a decisionto buy an apartment.Conclusion 7. Check out the bestproperty advice for you 8. CommonFloor.comis India's leading property search portal.On a mission to make property search hassle-free, transparent and fruitful;CF has best of breedproperty search on maps,property search mobile appsand an extensive section for knowledge resources andadvice in real estate.