What Are the Benefits of Buying a Resale Flat?

Moving away from our parents’ home for better career prospects, we often hate the idea of living in a rented flat. But the skyrocketing prices of properties often pull us away from our dream of buying a house. While taking a home loan is a better alternative to living in a rented house, many people hesitate to take the plunge due to the risks involved with non-repayment of the loan. Buying a resale flat is a good option for all such people who do not possess sufficient money for acquiring their dream house. Being cheaper than their newly-developed counterparts, they eliminate the need for taking a huge amount of loan. Plus, there are many other benefits to buying a resale flat. Some of them are mentioned below:

1)  No waiting period- When you buy a resale flat, you can move in it immediately. This is often not possible with an under-construction project which requires you to wait for the property possession. Getting instant possession of the property means you need not live in the rented house anymore. Plus, you can earn money by renting it to a suitable tenant.

2)  No chance of getting fooled- Many times, we have heard people complaining that their property does not match the blueprint shown by the builder. This is never possible with a resale flat because you can inspect it properly before buying.

3)  Inexpensive maintenance- Buying a resale flat, you will be required to pay a lower amount on its maintenance and upkeep. This is because older buildings often lack modern amenities which often consume more electricity and require regular maintenance.

Conclusion- These were some common benefits of buying a resale flat. Well, if you have decided to invest your money in such as property, then we suggest you carry out proper investigation beforehand. You must inspect the property well and if there is any major problem, you should either ask the seller to repair it or give you a concession in the price. Moreover, you must check the property papers properly and carry out the entire legal formalities well.

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