Introduction
As they navigate through today’s fast-paced real estate market, homebuyers are often confronted by the all too important decision of whether to purchase a new development or opt for second-hand properties?(Bangkok Assets Company) In fact, many smart buyers are opting for pre-owned homes for a more cost effective and value-oriented investment, although the seduction of moving into brand new home can be strong. Second-hand properties come with advantages that new developments just can’t offer — from better locations and established communities to lower overall costs. And let’s find out why a resale home might just be the best financial decision you ever made.
1. Save Costs Without A SacrificeOn Quality
Affordability is one of the greatest benefits of buying a second-hand property. The new developments typically carry premium price tags driven by elevated construction costs, developer markups and additional fees for amenities. In contrast, existing homes are typically priced homologously, so home buyers can get more space, better materials and more desirable locations per dollar spent.
Further, many second-handed homes come with essentials upgrades such as built-in furnitures, kitchen appliances or landscaped gardens — which could cost an extra amount in a new development. That means buyers can move in with little additional investment.
2. Neighborhoods with Stable Demand and Good Accessibility
Unlike new housing projects which are often located on the peripheries of cities, second-hand homes tend to lie in established neighborhoods with plenty of access to schools, hospitals, shopping centers, and all forms of public transport. This means a more comfortable way of life and improved property value over time.
In addition to this, older neighborhoods often have wider roads, mature trees and a sense of community that new developers often take years to develop. If location is the primary driver behind your decision, purchasing an older resale in a sought-after area may be a shoelace in the eye opener.
3. How to Avoid Hidden Costs and Delays
Developments can have unexpected costs, which aren’t always clear at the outset. Buyers might be required to spend more for basic amenities like a fence, blinds or even wider landscaping. Plus, construction delays are typical with new builds, so buyers can expect to wait months, or even years, before they’re able to make it through the front door.
With a second-hand property, you know what you’re getting. No need to worry about surprise fees or lengthy construction hold-ups. And when it comes to existing homes, they have a history — you can examine the condition of the property, see what maintenance has been done in the past, and even get feedback from the previous owners before finalizing a decision.
4. Space for negotiation and more attractive deals
In a new property purchase there is also no negotiation on price since prices are set by the developer. With second-hand homes, on the other hand, there is usually room for negotiation, so buyers can haggle over the price depending on things like the state of the property, local market conditions, and how keen the seller is to relocate.
As buyers are often able to use inspections to negotiate repairs or lower the purchase price, this can mean even deeper savings. A good deal on a used home can often provide buyers more budget to customize the property to their liking.
5. ** Invest More and Be Resell-able
Properties for buy-to-let often ar=e also projects and increase in value as do second hand properties over time, especially those which are in high-impact places or simply good locations. Since they are often located in areas with demonstrated growth, their market stability is higher than newer developed communities that still haven’t proven demand.
By contrast, new housing developments can be slow to appreciate if they are oversupplied or if demand for them in the future is unknown. Existing homes, located in desirable areas, may also have more long-term value and likely will offer a higher return upon sale.
Conclusion
We can find great real estate investment opportunity by second-hand properties. They provide cost savings, choice locations, fewer hidden costs and great investment potential — all without the added leverage over buyers that comes with a traditional sale. Read More: Australia’s housing market set for second wind as first-time homebuyers search for second-hand homesTreasuryLast-time and first-time homebuyers will be the types that will look for their second-hand properties while seasoned investors would frequently review the prices of their second-hand properties as long-term investments. All good resale homes, find the ultimate property for yourself. Today, go to Bangkok Assets Company.
