Even before choosing an ara damansara house for sale or ara damansara condominium, assess your budget soberly and choose the preferred and comfortable form of payment for you. You can buy housing at 100 percent payment, in installments for several years with and without interest, with the help of mortgage lending, leasing. Part of the cost of housing can be paid with maternity capital, as well as various government subsidies. The budget and payment method can be decisive in the choice between the secondary and primary housing markets.
In general, the following list of pros and cons when buying an apartment in a new building or on the secondary market will help to determine the priorities and opportunities.
Pros of buying a secondary home:
- the possibility of quick check-in;
- lack of neighbors carrying out repairs;
- Transparent cost of housing and communal services.
- Cons of buying a secondary home:
- maximum market value of an apartment without an investment perspective;
- significant risks in the form of unobvious encumbrances;
- worn out home equipment;
- the need to make repairs;
- heterogeneous social environment;
- in most cases, old housing stock and related infrastructure nearby.
Pros of buying a home in a new building:
- legal transparency of the transaction under 214-FZ;
- insurance of the transaction;
- in most cases, an attractive investment value and a smaller purchase budget; as a result – a higher class of housing or a larger area for the same cost;
- special mortgage programs with a lower rate (jointly with developers);
- in a number of projects – the opportunity to purchase an apartment with a new renovation;
- homogeneous social environment;
- modern technological solutions and equipment;
- in IOT projects – new infrastructure;
- the opportunity to take advantage of promotions, discounts, special offers, loyalty program.
Cons of buying a home in a new building:
- the need to wait until construction is completed (up to two years);
- noise from repairs done by neighbors, the first year and a half after the house is delivered;
- uncertain cost of housing and communal services.
Explore options in your area of interest. Consider transport accessibility (and the prospects for its development), the social infrastructure of the area. Remember that this affects not only the comfort of your life, but also the ability to profitably sell or rent out an apartment. If you have no experience in purchasing real estate in the primary or secondary market, consult with specialized specialists (realtors or lawyers) in advance in order to understand all the stages of the transaction. Be sure to go for a preview of secondary housing or take part in an excursion to a new building project.
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