Apartments for sale in London

For residing in any area, people choose to buy a newly developed apartment than old ones. Though the general price of newly developed apartments is high, compared to old ones, but at the same time, facilities and amenities offered by the developers are also attractive compared to those old ones.

And this is the reason ultimately that property is bought by the buyer which is offering all benefits more than old ones.

The benefits of newly developed apartments are as under:

• Ready to move on: As new properties have been constructed before short period only, no repair or s other work is required to be done before moving to this apartment. So, one can shift in the property as soon as gets possession of the same without any delay.
• Lower maintenance cost: Due to new construction, no much expense is required to be incurred as compared to old ones. In some newly constructed apartments, the buyer needs to pay once at the time of purchase itself lifetime maintenance cost.
• Warranty by builders: Now all builders give minimum 10 years warranty for all the newly constructed homes. So one can the benefit of the same which cannot be given in any other old property.
• Availability of amenities: Though it is a residential or commercial property, in any newly build up, there are always higher amenities compared to old ones. So, it becomes more suitable and convenient to use such properties.
• Availability of loan from banks: Banks offer loan on new constructions only and not on old ones. So, if one needs funding from banks, then new construction is the option available to them.
• Earthquake Proof: New constructions are designed by professional architects in such a way that they are earthquake proof. Such apartments don’t fall down in case earthquake takes place.

However, when there is a plan for buying the own home, sometimes buyer may not have the sufficient fund or finance which is required to buy the selected apartment. So, the most important thing one should consider is that whether the selected apartment is an affordable housing to him or not. Sometimes it happens that the buyer selects the property with all high amenities but it is not affordable, so in such cases, one can opt for getting finance or funding from the banks or other financial institutes. In this situation, it is also required to enquire for whether the apartment opted for buying is approved by banks for granting the funding or not? What is the rate of interest charged by the bank for giving loan for this property? What is the repayment period? What are other terms and conditions? What actions bank would take in case the buyer fails to repay any instalment?

About the Author:

The author of the article has an extensive knowledge in the field of Flats In Croydon and New Flats For Sale London.