The Benefits of Buying a New Home vs. Resale Property

Buying a new home in the Indian real estate market can be a challenging experience. There are
plenty of options available, from modern homes in decked out township projects by large real
estate developers, to resale property offered by homeowners looking for buyers, which can
either be new homes or old ones in older buildings. Both sets of options come with their own
unique benefits, as well as drawbacks.

New Home vs Resale Property – What To Choose?

There are a lot of factors to consider regardless of whether or not you’re looking at a new home or a resale. There are pros and cons to both decisions, and you’ll have to go for what suits your needs and budget the best. You might think the advantages of buying a new home outweigh those of a resale, but sometimes, buying a resale home is a better choice.

Why Buying a Home in Urban India Feels Like Chasing a Mirage?

Buying a New House

A new house that’s part of a modern residential property is usually built to the latest standards
and offers access to luxurious amenities that are a part of the project. They also tend to be more
expensive, and sometimes offer less space than equivalently priced resale houses.

Pros

● Energy Efficiency: Modern construction techniques often incorporate energy-efficient
features, reducing your utility bills and environmental impact.
● Warranty and Maintenance: New homes usually come with warranties, offering peace
of mind in case of any defects. Developers also provide maintenance services during the
initial years.
● Resale Value: New homes often appreciate faster in value compared to resales, making
them a good investment.
● Modern Amenities: New homes are typically equipped with the latest amenities, from
state-of-the-art kitchens and bathrooms to advanced security systems.
● Price can appreciate with time and development in that area.

Cons

● Higher Cost: New homes generally come with a higher price tag than resale houses,
often due to the cost of construction and modern amenities.
● Potential Delays: Construction projects can sometimes face delays, leading to
frustration for buyers.
● Unfamiliar Community: Unlike with resale homes, homes in a new project often haven’t
formed their communities yet, so it’s unclear whether or not you’d gel with them.

Buying a Resale

Consequently, a resale will be available for a lower price, or will be more spacious than a
similarly priced new house. Though they aren’t necessarily built to the latest standards and
might offer less resale value.

Pros

● Lower Cost: Resale homes are often more affordable than new ones, especially in
prime locations.
● Completed Fixtures & Installations: Handiwork like plumbing, wiring and painting will
be completed in a resale home, saving you the hassle of completing these chores.
● Better Scope of Negotiation: A resale on resale gives you a lot more wiggle room for
negotiating a better deal.
● Ready Possession: Buying resale property comes with the added benefit of the home
being ready for possession immediately.

Cons

● Maintenance Costs: Resale homes may require more maintenance and repairs, which
can add to your expenses.
● Limited Scope for Personalization: Since fixtures and fittings are already in place in
resale homes, they offer limited scope for you to tailor these aspects for your personal
needs.
● Uncertainty About Property History: There may be uncertainties about the property’s
history, such as previous owners, renovations, or legal issues.
● Resale price will be even lower there will be not much appreciation.

Conclusion

The decision to buy a new vs used home is a personal one that depends on your individual
needs, preferences, and budget. By carefully considering the pros and cons of each option. For
anyone exploring new residential property for sale, considering houses from reputable
developers like 99 Realty is advisable. Not only will you get the benefits of buying a new
home, you’ll get an investment for life. If you’re buying a resale home, you’ll need to dig deeper
and find out everything you can about the quality of the house and the building. You can make
an informed choice that will provide you with a comfortable and fulfilling living experience.