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Home Buying Guide- There has been a huge rise in property prices after Corona. Because of this, the price of new flats has increased significantly. This is the reason why the demand for old flats is also quite good now.
New Delhi. Everyone dreams of having their own house. Buying a house has now become more accessible due to housing societies being built in cities and home loans being easily given by banks. You have two options to buy a house. You can buy a new flat and also take the old flat in a residential society. But, a confusion remains in the mind of every buyer. Buy a new flat or an old one.
A person wishing to buy a flat must understand one thing that both have their own merits and demerits. Whether it will be right for you to buy a new or old flat depends largely on the way of using the flat, budget and location. Therefore, it is possible that one person may benefit by buying a new flat and the other by taking the old one.
How to take decision?
In such a situation, the question arises that if you are an end user then which property would be right to buy? Real estate experts say that if a person is buying a house to live in, then he should buy a new flat only. The new property being built will have all the facilities as per today’s needs. Since everything is new, you will not have to spend many years on maintenance. Therefore, buy a new flat directly from the builder and sleep peacefully.
Yes, buying a new flat has its disadvantages. Like its price is more than the old flat. The new property may be in a developing area, which may take 4 to 5 years to develop completely. You will have to pay less money in buying an old flat, but you will also face some problems with it. For example, due to the age of the flat, you may have to spend on its maintenance. If the old flat has already been sold several times, then there is a risk of some discrepancy regarding its documents.
When to buy the old flat?
Real estate experts say that those who want to buy a flat for rental income can buy an old flat after proper investigation. They do this only when they are completely satisfied with the construction quality and documents of the flat. Besides, the location of the flat should also be such where sale and purchase of property takes place continuously. The advantage of this will be that if you want to sell the flat in future, you will not have any problem.
If you are buying a house in resale then pay attention to these things
As a new buyer, make sure that there are no legal issues with the flat you are going to buy. Fully check the details of the owner of that flat, unit, loan outstanding, car parking etc. Always get the flat registered from the owner of that property.
