Home Investment

Is It Right To Make An Investment In A Newly Built Home?

Imagine you are going to buy your dream house, and you get a chance to see a newly built home that is ready to sell. This seems to be a great option either for the new buyers or for the ones who have a growing family or who are planning to get a good price for it in the future. But not everything that glitters is gold! 

Buying a new home comes along with some common problems that the homeowners are not informed of. No need to worry as there is a full guide to help you with the common issues you can face and how to avoid them when making a deal.

What are the benefits a new home can offer?

Who will not love the newly built homes? Buyers always find them tempting for many reasons! 

  • They feel more excited by visualizing themselves as the first person to live in the house.
  • They don’t have to pay for repairing or remodeling costs. If they need to, it will be nominal in the initial years. 
  • The buyers will be allowed to implement the interior of the property as of their choice. How cool is that?
  • As the place is new, there will be some sort of guarantee, warranty, and insurance. 
  • You can relish your stay there with the low running costs and energy bills if the home is created as per the correct standards. 

This was all about the benefits you can get, now have an insight of the problems with the new homes. Check out the list below!

About the developer customer service 

Whenever you buy a new home, the agreement and the after-sales can vary. Everyone sets some expectations of getting better customer service when they are investing money in The Medallion Mohali. But unfortunately, the developers don’t meet the quality requirements and not the after-sale service. It is the time to go for research and find out the best services.

  • Get an idea of the developers of your would-be home area and do proper research for them. Check out their feedback from the people and it will help you to know the issues that you can face in the future.
  • In case you find the development is partial, you can also consult the neighbors of the area to find how they have got the process of buying the home. They might help you with some negotiation tips or some important contract things.
  • You can also check the other side of developers to know their feedback and reviews.
  • The advertising of developers is appealing, but that is not the only thing to rely upon. Take a visit to the site and the nearby area to get a sense. You can also explore other facilities to assure about the right purchase. 
  • Pricing Value 

It is obvious that the price of a house decreases within minutes as you enter the house. Even when the market value of a property is rising, you will not surely get the money back by selling the house in the next few years. How to deal with such a situation? Read on to know!

  • Make a comparison of the newly built home with similar old houses in terms of pricing, space, and rental profit in the nearby area. Analyze the Medallion 3bhk Price and make a correlation with the resale market to get an idea of the paying reward. 
  • Try to bargain with the developers. Maybe you get something in return. Negotiation shows a maximum profit at the end of the financial year or when there are very few houses left to be sold.
  • Grab good deals from the developers. Some offer great bonuses to show themselves different from the other developers. You can take extra benefits like car parking, free appliances, or paying legal fees. If you are unable to confer the money, paying your stamp duty will be like a bonus for you to save most of the money.  
  • Process Restriction 

There can be delays in any process, but this is a different case. If you are planning a house that has not been developed, you may have to face the issues of a delayed process. Take a word from the builder about a completion date so that you can get a settlement if he failed to keep his word by that duration. The delays are also linked to the mortgage for the home.

  • Handiwork And Finish 

When you are buying a new home, keep in mind that it’s warranties do not cover up the craftsmanship and the finishing quality. You should be satisfied with every building stage of the home related to its future shaping. This is a special tip to take care of before you complete the deal of the house. when it comes to buying a home, be realistic, take your time, don not act on impulse, and, ultimately, make a home-purchase decision that’s good  for your future.