3 reasons why you need to consider resale homes

With the property prices soaring sky high, owning a new home in metro cities may remain only a dream for many. A large number of metro residents are also considering resale homes as one of the option. They often come cheaper and at better locations, than the new projects that are not in the main city areas. Keeping this option alive, increases the possibility of one making the right choice, as there are larger number of homes from which he/she can choose from. Here are prime reasons why you need to consider resale homes.

1. Lower prices, better facilities: Want to stay close to your workplace or your child's school? Chances are that a new project in an established location close to the business district will sport a premium tag. But if you look around the same locality, you have a 'better chance of finding a resale property which may fit in your budget. The difference in the prices can be 25-50%, depending on the city, location and age of the structure. The best part is that you get to live in a well-connected locality.

2. What you see is what you get: The difference between the super area and carpet area has always been a contentious issue. The gap between the two has increased in recent times. But in a resale property, there is no builder or marketing gimmicks. You get to see the property on the basis of the actual carpet area. So, even though the per square foot cost of a resale property may appear high, it will also offer more usable area.

3. Lower maintenance cost: Usually, older properties have lower maintenance charges compared to the new ones. This could be due to the slew of additional facilities in new projects. But remember that older properties need general structural maintenance more often. Recurring costs like painting the building, water-proofing and structural repairs have to be borne by residents, which adds to the financial burden of the individual.