Merits and Demerits of Buying a New House or Resale

Merits and Demerits of Buying a New House or Resale

While buying a house often people are in dilemma whether to buy any newly constructed house or buy any house on resale. Both the options have their own merits and demerits. In this article, we shall discuss about both these options.

Merits of any new home

Most of the younger generation prefer to buy newly constructed house due to various reasons. Some of the advantages of this option are listed below

  1. New homes will be designed with the latest technology and with modern construction where you will get the contemporary appliances fitted.
  2. These days, most of the newly built houses use green items in their new construction and if you are concerned about the environment then newly constructed house will meet your requirement.
  3. Newly built houses will be built by following various latest codes and standards, which will be more energy efficient as compared to any old building.
  4. Newly built house will have certified walls, windows, roofs and doors and other appliances fitted in them.
  5. Space and facilities available in the newly built houses to fit various new electrical and electronic gadgets are commonly used these days.
  6. Life expectancy of newly constructed building will be much higher.
  7. Modern houses incorporate various safety standards required for any building.
  8. If you decide to sell your house after few years then you can get better resale value

Few demerits

  1. The cost of any new building may exceed your budget limit.
  2. According to the construction expert Rocco Basile any new building may have certain unknown defects, which can be detected after few years. Whereas the resale building has been tested for many years of use.

Merits of resale house

Many people prefer to buy resale house as they are available at affordable price. Following are few other benefits.

  1. You can modify the resale house with various modern amenities as per your requirements and have the same comfort at much economical cost.
  2. Resale house has proven their worth and all the structural and construction defects have been taken care of.
  3. You can repaint the resale house and make it look like any new house.
  4. All the appliances and heating systems are in working condition and after their expiry period they can easily be replaced with the new one.
  5. With some moderate expense, you can turn your resale house into a new one and have the same comfort.
  6. If you prefer oriental style of living then old resale house are the best choice for you.
  7. All the infra structure facilities around the house are readily available.

Demerits

Now let us see few demerits of resale house.

  1. Life expectancy will be lower than any newly constructed house
  2. Resale price will be much lower as compared to new house.
  3. Many old and outdated constructions may pose safety hazards.
  4. In some cases, the modification and renovation cost may exceed the cost of any newly built house.

Having gone through the above merits and demerits about both the options you can yourself decide the best option for you.

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