Is it Viable to Invest in a Used Dwelling or a New Residence

A time comes in the life of every home buyer when he is faced with the question, "what kind of property should I buy? Should the house be spotless new or should it be warm and welcoming?" You might be also thinking about the answer to this question if you are planning to make a purchase. This article would help you to make the right decision. Read on to know more about various pointers that can help you in decision making.

A newly build home

Buying a new house can bring out a feeling of nervousness and excitement which cannot be compared to any other feeling. Knowing that you are going to buy a shiny and clean house can leave you amazed. One of the most important advantages of buying a new home is that everything that is present in it ranging from appliances to fittings is unused. The warranties of various equipments would be new and the essential utilities would not be required to be changed for a large time span.

Moreover it is easy to maintain a new house as compared to a used one. Everything from flooring to roofs and from pipes to windows can be left in the same condition for many years to come. The best part about investing in a new house is that you would be provided with safety features working on latest technology as well as energy efficient appliances.

However new homes do have its share of drawbacks and the most important ones are its pricing and costs. New homes have high price per square foot as compared to used homes. Therefore some people opt to choose for a used home rather than buying a newer one.

The older one

When a person plans to purchase an existing house, he can secure the property at lower prices. He can plan renovations and home improvements with the money which is saved. Apart from being value for money homes, existing properties also offer an individual the chance to personalize his house according to his needs and requirements.

A buyer can also move into an old home more readily than he can in a newer place as the accommodation is customized. It may take a significant amount of time to construct a new accommodation while the repair work may just take up a few months.

The final call

While both the options have their set of advantages and disadvantages, the final decision depends upon the buyer’s personal choice. He must research well and should have a detailed knowledge of his finances before reaching any decision.

The decision should also be made after keeping the credit score as well as future requirements in mind. A resale property may be the best option for all those who do not have enough money to spend on the house while a new property can be opted by those who have good credit score and can avail large amount of loan. So while choosing a property, keep all the benefit and disadvantages in mind. Happy home buying!!

We offer plentiful options to those thinking to invest in Mohali, ranging from 1BHK flats to harjirealtors 3 bhk flats in Mohali. People can choose any option depending on their lifestyle along with your budget. For more information visit us at harjirealtors.com/buy-sell.php

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