Resale or New Build- Which Property Is Best For You

Resale or new build Property
4 November 2020

Planning to buy a new house for you and your family, but taking a call on whether you should buy a brand new flat or search through the resale properties, is rather difficult, and we understand that! Although there are many elements that affect your decision for buying a resale or new build property , but here are some crucial points you should consider before signing the paperwork for your new house.

  • Investment

One of the major deciding factors while buying a new property is its costing. Generally, a new build property will cost you more than a resale one, and you might bend toward your decision to buy the latter one. But one needs to consider different other amounts to be paid to complete the paperwork, such as transfer fees, registration fees, stamp charges, utility charges, etc. Some people don't consider these charges, and ultimately, they have to pay more from their pocket after finalizing the property or otherwise need to make last-minute changes.

  • Location

The location of the property plays a massive role in the costing and value of the house. For example, if you are buying a new flat in a suburban area, it will probably cost you way lesser than a resale property in the main city. But on the other hand, you will have to cover a certain distance every day to access various utilities such as schools, offices, etc. that you may only find in the urban areas. Also, the price of the property located in the main city may increase significantly over time, but that may not be the case with the suburbs located properties. This will give you a big hand on reselling the property after a few years. 

Buying a new House

  • Advanced fittings 

A brand new home comes with advanced safety fittings and other fixtures such as energy-efficient certified appliances on walls and ceiling. If you buy a resale property build five or ten years ago, then you will probably have to install safety appliances, air filters, and other equipment at your own cost. Also, with a new property, you can always ask for a wiring and water pipe fittings map from the developers, whereas there is a chance that the resale house will have a problem with wirings.

  • Finance

Buying a resale property is a more hassle process as it requires a complete background check of the seller, document verification, registration of the property, and other paper works whereas with the newly bought property, the developers generally take care of the whole procedure.

We hope to provide you with the best advice on buying a resale or new property with our experience and knowledge of many years in the real estate field. At Advanced Property Group, we not only offer you the dream house at the best affordable price but also walk you through the complete process of buying a new property by assisting you with other complicated services such as currency exchange, bank manager, solicitors, and many other services related to property buying and maintenance.

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