Should you buy a new flat or a resale flat in North Kolkata?
Generally speaking, it is one of the biggest dilemmas that home buyers suffer from while investing in a residential project. Apparently, it is believed that home buyers prefer buying a resale property over the new ones owing to various reasons. Sometimes, it is either the location, the connectivity or the budget that compel home buyers to invest in a resale property.
Of course, buying a resale property has its own set of pros. These include-
- You get what you see
- You can verify the legal titles and can be sure about the legal status of the plot
- Low home loan interest
- Clear idea about the final amount that has to be paid
- You can have a prior idea about the construction quality by getting it checked by a structural engineer
- You get to pay the right price as you can have a fair idea about the real estate trends in that locality
However, when it comes to buying resale flats in North Kolkata, the scenario is not the same. The new ready flats for sale in North Kolkata are way different than the old ones or the resale ones owing to a plethora of reasons.
Real estate experts say that property buyers who want to invest in flats in North Kolkata do not their share of homework or enough research, thereby losing out on good, new residential projects. Most of the time, they succumb to the pressure tactics of real estate brokers and end up buying a resale flat when ready flats are available in North Kolkata within 20 lakhs. At times they also believe that buying a resale flat at a slightly lower price is always a good bargain.
Resale Flats in Kolkata are not in the same Value Chain
According to the experts, even though a resale flat in North Kolkata might be in a totally perfect condition, it does not mean that they fall in the same value chain as the new flats.
Real estate industry players say that every second-hand flat in the market has some impression of its previous owner left in it. In a resale apartment, it is a challenge to paint a unique masterpiece on a used canvas. The previous owners always tend to leave a certain amount of permanent mark of their personality or culture in the property. While it is possible to fill and paint over a nail hole in unwanted part of a wall, redoing serious structural modifications is a challenge.
Price Matters
It might come as a surprise to you but ready flats in North Kolkata are often cheaper than the resale flats in that region.
Resale flats in North Kolkata will cost as much as new flats (if not more) since the relative cost during the original acquisition was higher. Again, think about the cost that will incur during remodelling these resale apartments to match your taste and preference. Hence, it will yield double the cost when compared to ready flats in North Kolkata. For example, if you pay 20 lakhs for an old property and spending 1-2 lakhs more for remodelling, you are spending around 22-23 lakhs. On the other hand, you might get ready flats in North Kolkata within 20 lakhs meeting all your requirements, thereby eliminating the remodelling cost.
Also, a new flat in North Kolkata can generate a higher value on being resold in the market as the shelf life of the building is relatively more than the second-hand apartment.
Upgraded Technology & Better Designs
Industry players also believe that new ready flats in North Kolkata have an edge over the old ones in terms of technology, structural layout and the overall feel. Even though you might come across an old flat in good condition, new age builders are using cutting edge technology and modern concepts create new flats in their latest projects.
For example, the new age builders are making sure to infuse residential projects with an excellent set of amenities and facilities. The modern living spaces come with 2-3 open sides which makes them spacious and are Vaastu compliant, thereby providing home buyers with a positive surrounding.
Also, the brand-new ready flats in North Kolkata come with modern fixtures and fittings to ensure minimum problems after usage. The interior of the apartments is infused with meticulous design and comes with a structural layout that will sync with their modern living standards.
Verdict?
Is it always better to invest in a ready flat in North Kolkata if you are seeking a living space that will upgrade your standard of living? However, measure the pros and cons of both resale flats in North Kolkata and new flats for a worthwhile investment.
Dhoot Pratham 