Master Plan
When buying a house, there's always an important decision in front of every homebuyer: whether to buy a resale home or to buy a new upcoming project. Now, if a home from a reputed builder is slightly cheaper than a new home, it opens up three different possibilities.
Firstly, one might choose to buy a resale home in a developed location because new projects are very rare in any developed location. And those that do come up are usually much more expensive compared to resale homes.
The second option is to buy a brand new flat on a budget, a little away from the city, or in a developing location.
The third option is, in the same developing location. To buy a resale home and do some renovation work, which might cost less. Today, in this article we'll discuss this topic and see what the difference is between a resale apartment and a new apartment from three different perspectives.
First, what is the process: the documentation part. Second, the cost of the apartment: in terms of the current market value, and the third, capital or value plus. We'll discuss what the property is and the impact of this cycle and what impact the decision has, that is, when is it advisable to buy a resale home? Plus, how old is the house, can you can still buy it, and others.
An important thing, when I talk about a new house, it means a ready-to-move-in house or a house whose possession will be available in the next 3, 4, 6 months. This means there won't be any construction inside because inside construction versus ready-to-move-in are totally different perspectives.
First, it's searching and visiting. Real Estate developers now markets so much that everyone knows where the new project is coming up and what inventory is available in it. You can visit directly there, but resale is a bit complicated because you have to meet some owners directly.