Making a choice of buying a
resale or a new house largely depends on individuals need and requirements
beside other factors. There are plenty of options available in the resale as
well as new property market. However, both types of properties have their set
of pros and cons. There are many factors which guide an individual's choice for
a buying a resale or new house.
Location - New projects generally come up in suburban and
peripheral areas while resale properties are available in the main city as well
as the suburban areas. So, location preference is critical while finalizing an
option. It will also be related to the security aspect. Since, resale
properties are available in main city areas they are more safe than new
projects in distant localities.
Infrastructure - Linked to location is the infrastructure
facilities. Resale
properties are available in the main city and also on the outskirts.
So, those on a look out for a home in the main city opt for resale houses.
Infrastructure facilities, connectivity and transportation network are well
laid out in the main city areas. However, availability of these facilities could
be a problem with new projects coming in developing localities.
Making your own home - One reason buyers opt for the new
construction is that they have the freedom to customize the house according to
their choice. As L K Mehta realtor says, "The younger segment of buyers
take a lot of interest in the designing aspect of the house. They go for new
constructions so that they can decide on the color scheme for their house,
furnishing and fixture options, flooring, walls, tiles as per their wish."
Wide range - A new home buyer have wide range of choices. There is
an array of new projects by different developers. Each project offers an
assortment of features and amenities. One can select a home basis what all
features they want and how much they can pay for it.
Budget - A very important consideration is budget - how much one
can spend. Resale properties generally are priced higher. This is because they
are situated in a developed locality with well laid out infrastructure. New
projects are priced comparatively low. Moreover, one has a varied range of new
properties to choose from and can bargain as well.
Maintenance - The maintenance cost of new house is minimal.
Depending on the age and quality of the building maintenance cost of resale property can vary.
Innovations - Developers today don't hesitate to try on new
concepts and technologies. With wi-fi, intercom and other such facilities new
projects offer contemporary homes. Also, the concept of environment safeguard
is increasing among the developers and buyers are also getting conscious of the
same. So, new projects tend to be more eco-friendly. Green buildings,
eco-friendly building material, eco-products - paints, furnishings are new
concepts and many developers are incorporating then into their new launches.
The crux of the matter is that a
buyer has to be vigilant and clear about his requirements while making a
choice.
Author loves to write on realty
topics and have updated knowledge of new projects in Noida Such as Lotus Sports City and. Jaypee Wish Point
He has years of experience and regularly writes blogs and articles on realty
sector.