Indian economy is witnessing a brighter phase especially in the matters of real estate where there is some good news for the buyers. Given the reduced home loan interest rates, the modified RERA act and increasing purchase capacity of the buyers, the realty market is reviving from the setback of the demonetisation period. However, all these amazing factors cannot be of great help if the buyer is unable to take the right decision. For example, if you cannot decide upon whether to buy a new or a second-hand apartment in India, some lucrative opportunities might be lost in the process.
Real estate experts opine that buyers do not often perform a proper research on the market and hence are susceptible to take a wrong decision. Along with this casual approach, they fall prey to the pressure tactics put by the real estate brokers and even buy second-hand properties when brand new 2 and 3 BHK flats for sale are available at great prices and located in prime areas of the metro cities like Kolkata or Mumbai.
Evaluating the Value Chain:-
Gradually, a new trend is coming in the forefront that of investing in the real estate to sell properties for higher prices. Over the last decade, the prices of real estate properties have never ever gone down. Hence, investors are putting their properties on the selling list. The industry experts observe that even when the second-hand flats are in fine conditions, they do not fall under the same value chain.
We cannot deny that every second-hand accommodation bears the influence of its previous owner. They leave a certainly indelible imprint on their personality that could never match with the buyers’. Except for the minor modifications, serious structural changes are hard to attain.
The Price Factor:-
The readers may wonder to know that they might have to shell out a bigger amount to buy a second-hand property than the base price of the ready-to-move-in abodes. The buyers have to pay the amount in tandem with each stage of completion. However, the purchase price of the second-hand properties is higher as the original acquisition cost was also higher. Here, you might be paying for the obsolete building technique methods which were often costlier than the current methods. If one is purchasing a property with the objective of selling it in future, he/she should buy a new apartment because the shelf life of a brand new property is more than that of its second-hand peer. The longevity of the new fixtures and fittings are more than the old ones.
Advanced Technology:-
Reputed real estate developers in Kolkata or for that matter any of the metro cities in India are continuously improvising their techniques. They are developing housing projects which are environmentally compliant, more energy efficient, space optimised and user-friendly. They know that if they do not upgrade their techniques, gather the latest knowledge from the world of architecture or use advanced tools, they cannot stand a chance to successfully thwart the competition offered by other builders.
Industry experts are in favour of investing in new residential properties. The sets of evidence also support this point of view. You should consider all the factors before settling for the final decision.
