Buying a flat is a big decision for anyone. There are a lot of factors to be considered when you are planning for your next address. But one of the crucial decisions to make is if buying a used flat over a new one is a good idea.. Dhaka, the capital, is one of the hotspots for people all around the country for a better livelihood. New houses are being built left and right in the city with no proper planning to accommodate these people. That is why you must consider several factors before purchasing a flat to get the best living experience. Among these factors, one of the crucial decisions for anyone is whether to go for a brand-new flat or a used one. This guide will explore the advantages of buying a used flat over a new one.
Affordability
Buying a used flat can save you money. Because of the high-demand rate for apartments in Dhaka, the price of brand-new apartments is usually high. Plus, you only have a little room for negotiation. A used apartment starts with a low price, to begin with. This affordability opens up opportunities for a wider range of buyers. Moreover, you always get the option to negotiate with the buyers to get the best possible deal. Overall, you can save a big chunk of money when you are buying a used apartment instead of a new one.
Established Infrastructure and Amenities
Because of the location scarcity due to the housing demand, many new apartments are being developed in a location that is yet to be adequately developed. This means you don’t get easy access to essential amenities. On the other hand, used flats are usually developed in well-developed neighborhoods with easy access to amenities. Everything you need to have essential access, from schools and hospitals to shopping centers and transportation hubs, is already in place. Residing in a neighborhood like this can save you time, effort, and cost.
Verified Quality and Reliability
One of the best advantages of buying a used flat is the known construction quality. Since the flat has already been used, and with little effort, you can quickly know about the quality. Ask the previous occupant or any other occupant in the building to get valuable insights into the reliability and durability of the property. Learning from those who have resided in the building can minimize uncertainties, helping you make an informed decision on one of the most significant investments of your life.
Faster Investment Returns
You may be looking for something other than a flat for yourself. Instead, this is an investment opportunity for you. For faster investment returns, a used apartment is a good option. A used flat often comes with an established rental market, making finding a tenant easier. Ready-to-move-in apartments allow you to start earning rental income much sooner. Ensuring you get the return on your investment and start gaining profits at an accelerated pace.
Choice of Location
Some of the best neighborhoods of Dhaka offer the best features and is a desired locations for many people. But, the neighborhood has already reached the capacity for new residences, and there are no new flats to buy. Buying a used flat becomes the only option to secure a place in these highly desirable locations. Not only do you get a prime location, but you also get the advantages of established infrastructures with convenient access to amenities. So, if you have a desired location you want to move in, a used apartment could be a great option to fulfill your dreams.
Neighborhood Environment
The neighborhood environment is one of the most important but neglected aspects of living. Considering the current situation in Dhaka, the new apartments might be in a location that is yet to be fully developed. Living in that type of area means you get the annoying sounds of construction, workers, etc. This undesirable ambiance will harm your lifestyle. As said before, used apartments are mostly located in an already well-developed area, ensuring you get a good lifestyle.
Enhanced Security
Used flats in desirable neighborhoods typically offer a great security system. They usually have gated entrances, security personnel, and a surveillance system. The best part about a secured residential area is the limited access to the area, so outsiders are fewer in number. Additionally, these neighborhoods foster a supportive and connected living experience.
Conclusion
Buying a used flat is an appealing option for homebuyers and investors in the current market. Homebuyers can experience a lifestyle with established infrastructure, access to essential amenities, reliable quality, good ambiance, security, and more. These are not only beneficial for homebuyers but also for investors looking to rent a flat. The tenants will look for these benefits, which makes it easier to find tenants. Buying a used flat can be more beneficial than buying a brand-new one. But, ultimately, the decision is yours, so take it wisely and enjoy your address.
Frequently Asked Questions (FAQ)
Are there any disadvantages to buying a used flat?
Buying a used flat has some disadvantages, such as limited customization options, potential maintenance costs, etc. But these aspects can be avoided by adequately inspecting the property’s condition.
How long does it typically take to find and buy a used flat?
The time to find and buy a used flat depends on factors such as property availability, market condition, and specific requirements. On average, buying and moving into the flat can take weeks to months.
Where can I find used flats for sale?
We offer a large number of used flats for sale in different locations. You can explore our apartment listings here.
Can I get a loan to buy a used flat?
Yes, you can get a bank loan to buy a used flat. We also provide home loan assistance to our clients. Contact us to know more.
What role does Concord Property Solutions play in buying a used flat?
From searching for the perfect home to completing all the processes till the handover period, we offer a comprehensive range of services. You can find out about our services here.