Whenever we buy a home, we think that we will stay here forever. But that is not the case. With time, numerous reasons crop up which forces us to buy new flats in Hyderabad. These reasons can be an expansion of the family, moving to a new city or simply bored with your old house. The bottom line is 80% of the families change houses with the passing time.
Now comes the question, when we plan to buy new flats in Hyderabad, we are confused about which property to go for. Should we go for a newly constructed property or a resale one? In recent years we have seen the rise in demand for new construction home and a decrease in the demand for resale flats.
In this article, we will discuss why you should opt for new flats
- Low Pricing
New houses are normally bought from the developer themselves. Therefore, when you are buying a new constructed home, you do not need to pay any broker. When you plan a buy a resale house, the previous owner will want to sell the property at a much higher rate than he bought it. Therefore, this margin increases the price of a resale flat. On the other hand, if you wish to buy a newly constructed house, you only pay the minimum selling price for the property.
- Energy Consumption
Resale flats are quite old and the electric meters which are installed in them are very old and sometimes faulty. Even the wiring and electrical connections tend to deteriorate with time. This aging of the electrical system consumes more electricity.
On the other hand, newly constructed flats have new wiring systems and meters and hence the electric consumption is quite low.
- Financing options
Newly constructed flats are most of the times approved by banks for loan sanctions. The developer does all the running around and completes the paperwork required for getting the home loans pre sanctioned. For resale properties, the bank takes ages to approve the loan because of the strict scrutiny and evaluation they have to do before sanctioning the loan.
- New wiring
Resale properties are very old and hence all the wiring, foundation, color wears out with time. Since electrical wirings also become loose, it, therefore, increases the risk of short circuit and other mishaps. Newly constructed flats, on the other hand, have the latest and more advanced wiring installed. This reduces the risk of short circuits and related accidents.
- Better resale value
Resale flats are normally old. If you buy an old flat and then again want to sell it off, it becomes an ancient property. No one wishes to pay an enormous amount for an aged property.
If you buy newly constructed flats, then if you wish to sell it off, it will get a higher price than resale flats. This is because if you buy a resale flat and sell it off, the flat becomes a 3rd hand flat. But if you sell off a newly constructed flat, then it becomes 2nd hand property, which obviously fetches you more money.
- No renovation cost
As discussed earlier, resale flats are old and if you decide to buy them, then you have to be prepared for spending extra money on renovation. Newly constructed flats are freshly built, so no renovation is required as all the foundation, plumbing, and electrical wiring are still new.
- Minimal risk of diseases
Resale flats are known to be infested with bugs, molds, etc. Also, if someone who previously used to reside in the flat had deadly diseases, it could easily spread within the walls of the flats. This is a major concern because once you buy an infected flat, you will also be at the risk of getting infected from these diseases.
Newly constructed flats for sale in Gachibowli are fresh and no one ever has resided there before. Therefore the chances of getting infected from deadly diseases also reduce.
- Clean Slate
Few resale flats have unwanted history attached to them. For example, someone committed suicide when he/she was residing in the flat, or there was a major quarrel which led to deadly mishaps. It is always good to stay away from such properties because although the events occurred years back, it leaves behind a trail of negative energy.
To avoid this misfortune, you should always opt for newly constructed flats, as these properties are not
- More Spacious
Newly constructed flats are designed more meticulously and thus, the entire planning of the floor gives the maximum amount of space to the owners. Resale flats follow the olden style apartments which are very gloomy and space management is not implemented properly in these houses.
Thus, to conclude, you should always opt for newly constructed flats instead of resale ones due to the immense amount of benefits new flats provide.