Resale vs New Flat : All you need to know to Decide
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- čas přidán 16. 03. 2023
- Every house buyer needs to decide between resale vs new house. Both resale flat and new flat have their own pros and cons. In this video I have discussed all aspects around resale vs new flat, including pros, cons, process of buying, cost involved and expected capital appreciation of resale house and new house. I have also suggested when is a good time to buy a resale flat i.e. is it worth buying 20 year old flat
In this video, I will discuss
1. Pros and cons of resale vs new flat
2. Buying process of resale vs new flat
3. Total cost of purchasing the old construction vs new construction
4. Resale value / capital appreciation of resale vs new house
5. Age cycle of a property in India
6. Is it worth buying 20 year old flat
About This Channel
Objective of this channel is to help young Indian know the unknown about buying a property in India
My mission is to educate young Indians about property buying process, starting from
1. How to find & buy your first house
2. How to invest in Indian real estate and make passive income
3. How to create wealth from real estate
4. Learnings for property buyers from real estate case studies
Who Am I?
A Realtor, Entrepreneur, Investor & Educator
I have worked with top developers of the country, have been an entrepreneur into Proptech space & a real estate investor for last 14 years
I want to share what I have learned to help you make a better informed decision based on awareness
You can reach me
Email: info@flatsandkeys.com
Whats app no: 9625111400
#resalevsnewflat #newconstructionvsresale #resalevsnewhouse #prosandcons
There is a benefit in buying old flats, they are built with really low FSI and comes with a high land share. The price of building depreciates but the land underneath is a goldmine. You shall reap the benefits when the building goes for redevelopment in such cases.
I think for resale best practice is to live on rent in that society for 3-4 months and then purchase
Yes, that's a best option when possible. but it's not practically possible many times.
Another option is We can ask for real feedback and reviews from people living there.
No. Shifting with all the furniture is not a easy task
It's best talk with the neighbours , know the pros and cons then purchase
@@triptybaheti staying yourself and talking to neighbours are very different things. If you stay 11 months on rent and then buy , only 2 times your furniture will be moved but you becomes 100% sure about your decision and the feeling of moving from rent to own will all things set in a society will be awesome like maid, milkman etc
Government ko investors pe kuch limit set krna chahiye real estate investment ke liye. Ye investors ke wajah se house prices bahot badh gaye hai. Because of this houses are become unaffordable now a days.
For personal use all sensible people prefer upmarket locality rather than unsafe suburbs.
Great and knowledgeable for me. Right now I am looking for resale property . Thank you so much for your suggestions.👍
बहुत अछी नॉलेज आपके द्वारा दी गयी है धन्यवाद
Absolutely correct observations and information shared is very correct. Thank you for sharing everything in so much detail, it will really help homebuyers in decision making.
I think the build quality matters for more than 8 yrs old property. If it's well maintained and no major quality issue noticed, then that's a much better option as compared to new flat where we are not aware of it's actual condition after 8 yrs
In real estate it's location location location. With traffic jams staying in central location in key. If u have budget no in right mind prefers suburbs. People with budget will always prefer resale in developed location. Example sobo..always property prices r sky high there old or new.
Thank you so much sir for upload this video. Many buyers will be benefitted like me.
God bless you... Very important information... You always give accurate knowledge.. Thanks🙏
Resale flats are not cheaper any more. Sellers usually ask for the as price at which new flats are being sold as resale unit will be ready to move and for new one you might have to wait for 1-2 yrs for possession
Completely agree.
Eye opening vedeo ,big thanks 🙏 and salutes to you
बहुत सुंदर जानकारी जय जय हो आपकी ❤
Sir, i suddenly came across your channel right now & have watched 3 videos till now, your way of explaining little little details are really good plus the videos are so much informative & useful....keep making such videos
Thank you for your kind words. Will continue creating content which is real and useful.
Concise and well researched.
This is an amazing channel, I didn't knew it existed for such a long time, much better than those sango gurus
Nicely briefly,thank😊
Jabse logo ne real estate ko investment samajhna shuru kiya hai tabse ghar khareedna or mehenga ho gaya hai.
Very well explained
And like the way you speak
Thanks for the information 🙂
Very well explained and a lot of useful information shared Sir. Thank you
Thanks sir nice 👌 information
Thank you sir for the valuable information.
very good remarkable ideas.
Good info sirji.
Appreciate your knowledge and wisdom ..
Thank you so much !
Good explanation it added to my knowledge when to resale / new property
Thank You 🙏🏻
Sir you have explained very correctly,
Helpful video
Thanks ✅ Love From Mumbai 💚💚💚
शानदार वीडियो।
incredible content ....
Thank you Sir for posting such good material on You Tube! We are first time buyers and need help in answering this question - How do we check registration details of a property in Government records?
SIR, THANK YOU SO MUCH.
Good advice by you
Very good analysis
Thank you for sharing your thoughts
Glad you liked it !
Great video with knowledge
Glad you liked it
Great
Good information
Very nice information
Very informative
Achi jankari di sir ji
Thank you for the info sir. Very insightful. Quick question- Even if the resale flat/apartment is 15-20+ years old, if its in a prime location.. wouldn't other builders or same builders plan for redevelopment for profit purpose... so won't the owner get a good deal there??
Very nice 👌
Thank you sir for this invaluable inputs. Gave me a new perspective on resale flats. Can you please tell about how mivan construction have effect on resale prices or you inputs on mivan flats. Since there is no issues in construction quality of mivan flats so they one less hassle to worry about in mivan. Some people are saying that mivan will revolutionise resale industry and everyone will buy mivan flats only.
Thank you for your feedback and suggestion. Will definitely do a video on mivan construction
Well done. Make one video on Sobha project as well (comparison with other). Will be hit.
Thanks for the suggestion. Will surely do a video on project as well
Appreciate the knowledge shared in this video.
I have one fear, i dont personally like hogh rise buildings. Its gives me some fear as well. But the low rise flats are really very costly in my area.
Not sure what to do. People are moving to 20 years old GDA flats, but problem is same, they wont be able to sell after 20 years. Why would i buy a 40 years old house.
Really a big decision to take now.
Please mention about full cheque payment which one is better Resale or new one.Your reply will be highly appreciated
hi, please make a detailed video on purchasing a flat through bank auction as well. Is it advisable - why / why not?
Very good 👍
Please also make a vedio on Flat Vs Home.
Yes ur best
Thank you
Good 👍
Pune mein new flats ke price bahot badh gaye hai ab to resale flat hi acha option lagg raha hai.
Excellent sir
Thank you
Great video
Glad you enjoyed it
I fail to understand this. A resale flat in an already developed locality with a well in place social infrastructure will be beneficial as compared to a so called new flat which will come up in a suburb in next 5 years and another 5 years for social infra to reach basic levels. Isn’t this the reason why prices are going insane in Delhi and Bombay? Certainly in this case one needs to pay money upfront and can be expensive or out of budget for most ppl.
@flatsandkeys What after the age of property finished ? Do we get another flat in another society or builder will reconstruct same property ?
Very nice video❤ keep making good videos sir
Thank you !
What is difference between DEED OF ASSIGNMENT & Sale Deed. I purchased a resale flat, but got deed of assignment . Is it the right document or I need to do some other step? The flat is in Pune
Respected Sir
I am a big fan of your good self I watch and enjoy every video from your good self sir I badly need your valuable advice as I want to purchase a 2 BHK flat for my son working in Noida I have short-listed two options one from central Noida sector 78 heavily populated area the society is 7 years old and some aging marks are clearly visible over the building,the 917 square feet 2 bhk costing 78 lakhs in total, the another choice is in sector 150 noida an under construction building from tata value home, the price of 1100 sqft 2 bhk is 1.1 cr total, the possession is expected in next year where should I go please provide your valuable advice thanks and regards
Could you post Video on Pune properties?
Very nice video can you please conver the reconstruction of old building benifit
Thank you ! have made a video on redevelopment here is the link - czcams.com/video/kVtdpgmD3-c/video.html
Very nice elaboration
Real estate is nothing, dependent on LOCATION , LOCATION , AND LOCATION May be old or new .
In resale house best area of city it chance to reconstruct the building after 40 year then that is beneficial right
Is a top floor flat with a gym above masterbedroom ( its an apartment of 10 2 bhk flats) good for resale?
In title chain first owner registration is not done second owner is registered so it is ok to take flat or there is any problem?
Sir, 12 years purana flat resale from developer mil raha hay! But Seapage hay developers thik kar dega bola hay ! Lena sahi hoga? Surround and Neighbors udhar thik hay.
Hello Sir,
Thanks a lot for sharing such wonderful insights and experience.
This is ultimate guide for any buyer in market.
My friend has recently purchase a flat in nearly 20 year old building and he also mentioned that the cooperative society of building is planning for redevelopment in next 3 years max.
So is it not safe to buy discounted apartments here?
The flat owners will extra carpet like 1 Bhk owners get 2 Bhk and until the building is ready they also receive rent.
These are the benefits i heard any comments on this might help.
Thanks again for well scripted content.
Buying a flat in a society which will go for redevelopment is a double edged sword. if the construction is completed on time then you get a better flat with higher value. But a lot of time these projects get stuck and take a long time for completion due to issues between developer and residents. also sometimes builders stops making rental payments aswell. So throughly check developer credentials and past projects they have completed. Also, it is a better option if you are buying this as an investment and are staying somewhere else.
@@flatsandkeys makes sense, thank you!
@ashteshdiwakar Redevelopment projects are a double edge sword...
Ahuja Builders Booked For Cheating 590 Homebuyers In *Redevelopment Project In Sion*
The flats initially cost ₹75-80 lakh but the price was changed to ₹1.75 crore to ₹2 crore after the developers introduced Fosun Hive, a China-based company, as an investor/developer;as Ahuja Builder was on the verge of bankruptcy.
The Chunabhatti police have booked six persons, including Jagdish Ahuja and Gautam Ahuja of Ahuja Constructions, for allegedly cheating 590 homebuyers with the lure of flats in the redevelopment project at O2 building, LBS Road. Mulund
While 280 original owner families are waiting for their rents, the other 310 buyers claim to have paid 75% to 100% of the cost without getting possession. Moreover, the price of the flats was also doubled when another investor was brought in.
Possession was promised by June 2022 but Fosun Hive (aka Carbon Hive Zero Constructions Pvt Ltd) allegedly stopped work in February this year. The developers, according to the complaint, continued to sell flats till June 30.
When new buyers and tenants demanded their houses from the developers, they were told that work would resume after new developers or contractors are brought in. The buyers have alleged wrongful loss, accusing developers of having earned wrongful gains.
Besides the Ahuja builders, the other booked persons include Ahuja Group manager Chandrahas Yellapa Kotian, CEO of Ahuja Group Sanjay Shrivastava, and Fosun Hive chairperson Peng Peng Sia.
Who will be paying for redevelopment here and also rent .
Sir I am willing to buy an affordable builder floor in resale.. which are the documents should I check coz this is going to be my buy.
👍👍❤
Nice explanation 😊
Thank you
I think not 100℅ applicable for delhi, as very few new construction in delhi, that is why you have to purchase resale flat in delhi. No have any option...
Its not necessary to shift the loan to same bank
Flats older than 20 years may be demolished by the Builder, the flat owners will get the share of the value of the land i believe.
Builder se kese lein direct
In vizag
Plz make deatile video how to check chain of doucument including sale deed etc.
Have already made a video on same here is the link
How to Check Documents Before Buying a Resale Flat | Resale Flat Document Checklist : czcams.com/video/vE_NiGvdTGw/video.html
New Flat Documentation : czcams.com/video/PVWwi5Y5kTM/video.html
@@flatsandkeys thanks for reply
I definately look it
How can I get a loan on 50 year old property? Will i have to repay the entire loan when redevelopment starts
Home loan transfer happen between different banks. You dont need to take a loan from the same bank
Many information given was wrong and threatening to customers opt for resale
So what youre saying is dont buy resale flats which are more than 5 years old?
I AM going to purchase resale flat
Due to thses investers property prices touching sky😭
Yes bro. Government should impose some limit on real estate investment. Because of this investors poor people unable to buy the homes.
Kindly share your views on the future of Dwarka society flats in Delhi, is it worth the investment?
Will definitely do a video on same very soon
@@flatsandkeys Thanks
20 year old house lena chahiye ya nahi
12:40
Can I hire a man or company who can check flats documents which I'm buying ?
Sir plz share what is your preference resale or new flats?
I personally prefer new flats. as they get better appreciation immediately within 3-5 years of possession. Also it always feels better to live in a brand new apartment.
13:35
Can i buy 30 years old flat for use
Hi Sir , what about resale of new flat only. Like people buy flats while under construction stage and when its ready to move they sell it with increased cost than their CP but still its cheaper than builder rates
It is considered as a new flat only. So you can purchase it. Also, generally it is sold at the price of a new flat only.
How about buying a 10 year old property and hold on to it until some builder offers for redevelopment…
I have a doubt ... Who exactly pays for the redevelopment?
please make a video on how to find a good broker .
Thanks for your suggestion. We will cover this topic very soon
Sir Resale property me loan hota hai ya only cash karna hota hai?
You can get a loan on resale property aswell. i.e upto 75% - 90% of the property value. different banks have different polices. Property value is determined by bank by sending independent valuers.
Who and when we should buy a resale flat?
It is detailed topic, shall create a video on same very soon
14-15 years top floor flat buying profitable and what things need to be verify??
Location is very good and how much rupees per sqft (when new flat Rs. 3000-3200 per sqft)
Thanks
Which location ??
@@ANKITDIXIT-ir9yy Siliguri shiv mandir a type b city
@@ANKITDIXIT-ir9yy sir, what is open car parking system 4 parking 2 way to out
May i take 27 years old building in good condition. And near all good aminities like vegetables school hospitals
If you are buying for end use then it is ok but check the construction quality of the building. If you are buying as investment then it is not a good idea as prices will rise slowly as building gets old.
to check the construction quality you can refer this video
How to check construction quality of a building : czcams.com/video/E_Hw0-WJLkA/video.html