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Relevant facts to look at while opting among Resale Flat and a New Residence

One of the obvious queries which come in people's mind before investing into a residence is; should i decide on a resale apartment or a fresh new built house. This critical and crucial question may have a number of possibilities as answers; all based on the purchasers' instant needs….his residing needs his monetary strength in addition to his very long time investment strategy.

Advantages when pruchasing freshly built apartments:

1. Under construction flats are less costly compared to resale flats, as payments they are under construction linked plan for at-least a year.
2. Buying new residences have advantage of designing it in your own way because you will be the first hand owner of the flat.
3. The new property will later have higher resale value and have a higher shelf-life in the market which further adds to the price.
4. It will come with all new amenities and facilities

Dis-advantages when buying newly constructed apartments:

1. Delay in project is often rather infuriating specially when have to pay EMIs alongside rentals.
2. Sizes of the condos are fairly lesser as, loading as time goes by has increased quite a bit
3. New projects are likely to be at places where facilities and societal structure is also establishing all at once that's why, key amenities for travel or medicine and health can be quite a scarcity.
4. Many times the necessities promised aren't delivered by builder for this reason that indecisiveness remains till possession.
5. Builders customarily don't handover the society even after two years of selling the project for their individual gains which may lead to reliance upon him for basic conveniences in society.

Advantages when picking second-hand Apartments:

1. To get an apartment house in your in your neighborhood of choice leaves you with no option but to select for resale flat (if there is no space for new construction).
2. The larger carpet areas are can be found for lesser cost as when compared to to newly built flats because of low loading.
3. Resale residences ensures speedy possession. Saves rental burden.
4. Societies are developed and running effortlessly which is easy to adjust. There is no need to worry on occupancy certificate being awarded or not etc.

Dis-advantages when buying resale Apartments:

1. You have to-adjust to your former owners' furniture and fittings if it's a entirely furnished house.
2. State of the resale flats will not always be good as in contrast to new residential homes.
3. There is possibility of non-acceptable norms voted for by the current Society's Managing committee.

Therefore, it is always advisable to assess every the pros and cons, in both the cases of newly developed as well as resale apartments then looking into your individual priorities decide which way to go.

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