Скачать или смотреть Should you buy preowned Homes?

Hi Viewers,
In this video we understand the advantages and disadvantages of buying a preowned homes and how it can affect your quality of live with financial impact.

Advantages of Buying a New Apartment
Modern Design & Amenities – New apartments often come with contemporary layouts, better ventilation, and modern amenities (smart homes, gyms, swimming pools, etc.).

Lower Maintenance – Since everything is brand new, there are fewer immediate repairs or renovation costs.

Builder Warranty – Most builders offer a 5–10-year warranty on construction, plumbing, and electrical systems.

Compliance with Latest Regulations – New constructions adhere to updated safety norms (earthquake-resistant, fire safety, RERA compliance).

Customization Options – Buyers can sometimes choose finishes, tiles, and modular kitchens during construction.

Better Financing Options – Banks offer higher loan amounts (up to 80–90% of property value) for new properties.

Disadvantages of Buying a New Apartment
Higher Cost – New apartments are usually priced higher than resale properties in the same area.

Construction Delays – Risk of project delays (especially in under-construction properties).

Location Constraints – Many new projects are in developing areas with limited infrastructure.

Hidden Costs – Additional charges like GST (5% for under-construction), registration, and maintenance deposits can increase costs.

Lack of Immediate Possession – If under construction, you may have to wait 2–5 years.

Advantages of Buying an Old (Resale) Apartment
Lower Price – Older apartments are often cheaper than new ones in the same locality.

Established Neighborhood – Better connectivity, schools, hospitals, and markets nearby.

Disadvantages of Buying an Old Apartment
Higher Maintenance Costs – Older buildings may need repairs (plumbing, electrical, painting).

Outdated Design – Smaller rooms, fewer amenities, and old-style interiors may require renovation.

Legal Risks – Older properties may have unclear titles, pending dues, or litigation issues.

Lower Loan Eligibility – Banks may offer only 60–70% of the property value for very old homes.

Higher Renovation Costs – Retrofitting (like adding elevators) can be expensive.

Society Issues – Older societies may have poor maintenance, parking problems, or disputes.

Immediate Possession – No waiting period; you can move in or rent out immediately.

Negotiation Scope – Sellers may agree to lower prices or include furnishings in the deal.

Lower GST & Taxes – No GST on resale properties (only stamp duty and registration charges apply).

Proven Quality – You can inspect the construction quality, water supply, and society maintenance before buying.

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