As a buyer, you will have two options in terms of properties- a resale or a new property. Some people prefer to have a resale property while others usually lookout for new ones. Both these types have their own pros and cons which you should learn before you start looking for the property and finalise the deal.
In this discussion, we will talk about both the resale and new properties in Hammersmith so that you can have more clarification:-
Prices And Resale Values
The properties for sale in Hammersmith are available at a lower price as compared to the new properties. For example, when you are buying a house from an existing owner, you simply have to pay the market price. But for the new property, you have to pay both the market price and the surcharges like registration fee, charges for the plot, and so on. Similarly, the properties on sale have lower resale value as compared to the new properties. So, if you want to make an investment, go for the newly constructed ones.
Ease Of Moving
Resale properties are best known for the ease of moving. You don’t have to wait for the property registration under your name or get approval for the bank loan. All you have to do is negotiate about the deal with the seller, submit the papers and documents, request for change of ownership and pay the amount. But when you want to move into a new property, you will have to wait for a long time because you need to get it registered under your name along with all the utility and tax bills.
Purpose Of Purchase
The properties for sale in Hammersmith are best suited when you have to live in the place only for a couple of years (less than five years). This will help you to make a profit on reselling the property before you move out of Hammersmith. On the contrary, if you want to settle in the city or has a long term plan for stay, it would be best to invest in a new property. This way, you don’t have to worry about degrading structural integrity or repeated renovation works.
Property Features- Interior And Exterior
Coming to the property features like the interior and exterior, a resale property will give you the freedom of making changes as per your desire. For example, you can set up a wonderful patio dinner place or install guard rails in the balconies. But when it comes to the new properties, you will have to spend extra for making alterations because the property will be constructed as per a pre-approved plan.
Final Words
Both the resale and new properties will give you the comfort and relaxation you are looking for. But if you weigh them based on the factors we have discussed above, you will realise that there are huge differences between them. Thus, make sure to make a choice that will prove to be a lucrative investment for the future.