Is it a good option to buy resale flats?
With skyrocketing prices of residential properties, buying a house may become an expensive affair. But you can save some cash if you consider buying a resale flat. You can spend this saved money on other purposes like interior decor of the house instead. Saving can become even easier if you choose the correct lender for your home loan. Your home loan experience, from disbursement of the loan to the last EMI payment, should be extremely quick and hassle-free. Financiers like Bajaj Finserv offer 3 EMI free months on home loans to facilitate ease of repayment.
Let’s make the idea of buying a resale flat clearer for you.
Advantages of Buying a Resale Flat
Getting yourself a resale flat can be beneficial for you in several ways. Some of its major advantages are listed below:
- For an income-conscious individual, the resale market is the saviour. While realty market is bustling with high-priced residential properties, resale flats offer a price much cheaper than the new ones.
- Purchasing resale properties may save a lot of time as usually they are ready to move in.
- Zeroing in on a resale flat will make you save on rent that you pay for under-construction dwellings.
- When it comes to resale flats, an array of choices are available in accordance to your preference. Additionally, you will get what you see with minimal chances of future shocks.
- There are no cloaked features or hidden charges in resale market.
- You will get complete clarity on maintenance charges and resident composition of the complex.
- Immediate possession also provides tax benefit from the very first EMI.
- As getting a fair idea on real estate trends of the locality is easy, overpaying for the property can be avoided.
Tips on Buying a Resale Flat
There are certain factors you need to take care of before buying a resale flat. Read on to know what they are.
- Age of the Property: Ideally your flat’s age should range between 5 and 10 years.
- Reputation of the Builder: A builder’s reputation is generally determined with the quality factor associated with his/her past developments.
- Reason Behind the Sale: Knowing the reason will help you unveil the problems and issues associated with the property, if any.
- The Location: Proximity to major commercial locales should be a major deciding factor if you’re looking for a thoroughly urban existence. If you want a slice of suburbia though, look for connectivity and access to civic amenities.
Options to Buy Resale Flats
You can browse through online listings to find resale properties in localities of your choice. Consider directly contacting property owners to avoid extra expense on brokerage. But if you want some professional help and ease of documentation, then you can turn to a trusted and credible realty agent.
If you are taking a home loan to buy your house, then consider the one that offers ease of repayment with few extra incentives. Home Loan scheme offered by Bajaj Finserv proposes benefits like nil foreclosure charges and prepayment facility. You can also apply online for your home loan to enjoy easy and fast processing. With Bajaj Finserv you can apply online for home loans at a lowest interest rate of 9.75%.