The very 1st dilemma that strikes anybody while buying a house is whether to buy a flat kept for re-sale or to buy a new constructed flat. To make things easier for you, we’ve listed down the pros and cons of both newly constructed flats and flats for resale. read through and make your choice based on what you think is better.
Newly constructed flats: pros
A payment method is spread out over a period of time that is very useful. this is because the payment is purely based on the construction and completion of the house.
Your choices are widened. you can select your most well-liked floor and elegance and house location as well.
If you have chosen to pay from your own pocket, it can prove profitable in the near future.
If you have sensible relations with the builder, you can bring changes or modifications as per your choice. This happens when the construction is on-going.
The interiors are totally based on your choice. you do not have to settle for what you get. you’ll be able to select what you prefer or choose something that you have always longed for.
The cons of going for a new constructed flat:
One of the biggest problems with such flats is the reliability of the builder. You never know how good the builder is and how good their projects are. The legal status also makes a big difference. There are a list of certifications that you need to ensure are with the builder. For instance: If your builder has failed to get electricity permissions, you’ll end up paying exorbitant electricity bills for no fault of yours.
You will get no clarity on something associated with the upkeep charges. you are doing grasp, however that’s only when you have moved in. so if you have high maintenance charges, you’re doomed. This uncertainty is one of the disadvantages.
Pros of a flat kept for resale:
Whatever you need is right in front of you. therefore you do not have to prepare yourself for any future shocks.
Every legal title and status is well assured and familiar. so saves you of any kind of uncertainty.
You get all the information related to maintenance charges. so you know what you’re going to pay money for the rest of their life.
Another biggest advantage is you do not need to wait for any completion of projects. you can move in as soon as possible.
Why you might want to re-think regarding opting for resale flats:
The disadvantages here are that since you move in quite later, you would possibly find it difficult to cope up with all the rules the society has made.
You cannot really change much regarding the house, therefore you may need to live in the same place for years.
You may not be open to several decisions in terms of floor since not every unit is up for sale.
We hope this will help you decide. These are a number of the pros and cons at a quick look.So, this was our dedicated post on to go for a resale Flat or a new constructed flat.