When planning to buy a house, have you found yourself weighing the options between a newly built home and a resale property? Here’s a surprising fact: over two-thirds of homebuyers opt for resale properties. Simply because resale homes almost always offer:

1. Better livability,
   
2. Better returns,
   
3. And lower risk 

Let’s explore these three key factors in detail:

Better Livability

Resale properties offer the freedom to choose familiar, well-connected locations and vibrant communities—something new projects in remote areas can’t easily match.

Every Facility at Arm’s LengthX

One of the greatest benefits of buying resale property is its location. Most resale homes are located in well-established neighborhoods, putting you within reach of essential amenities like schools, hospitals, shopping centers, and public transportation. New constructions, especially those on the outskirts, often take years to develop similar amenities, causing inconvenience for residents in the meantime. Take Central Whitefield in Bangalore, for example. This location offers everything from top-tier hospitals to IT companies and shopping malls in very close proximity.

Better Returns

Resale homes tend to attract tenants more easily and experience faster appreciation over time, especially when compared to new projects still under development on the outskirts.

Faster Appreciation

When it comes to long-term appreciation, resale properties in established locations usually outperform new properties in emerging locations.

This difference in appreciation is due to one factor: land scarcity. Older locations often have no more land parcels available for new developments. This limited supply, coupled with regular high demand, drives property values up at a much faster rate.

Check a real-world example:

• Koramangala’s Raheja Residency, a 21-year-old property that increased from ₹51 lakhs in 2001 to ₹2.5 crore today, with Sarjapur Road’s Mantri Glades, which rose from ₹87 lakhs in 2011 to ₹1.6 crores now. Although both have appreciated it, the difference is stark.
  
• Established areas like Jayanagar, HSR Layout, Hebbal, Marathahalli, Whitefield with limited land and high demand, fuel rapid value growth in resale properties, outpacing newer developments on the outskirts.

Rental Income Starts Immediately

Resale properties offer immediate rental income to those who don’t shift into their home right away. In prime areas like Whitefield, a resale 2BHK flat can rent for ₹40,000 to ₹50,000, far higher than rents in developing areas. This steady income can help you in many ways, unlike new properties in emerging locations, which may take years to yield similar returns.

Lesser Risk

With resale properties, you avoid the burden of paying both rent and EMI simultaneously, as they are ready-to-move-in homes with no need to wait years for completion – no delays, no uncertainties.

Financial Ease: No Dual Burden of Rent and EMI

One of the biggest financial burdens with new construction is the double cost—paying both rent and EMIs at the same time. With resale property, you can escape this financial trap. Even if you don’t plan to occupy the home right away, you can rent it out and start generating income that helps you pay your EMIs. This is also the perfect setup for a starter home which you can sell later to buy your dream home.

Risk-Free Investment: No Delays, No Uncertainties

Delays in new construction projects are a very common problem for homebuyers. The RERA may grant one year or more extension if the developer submits a plea or the delay is due to unforeseen challenges. This can significantly impact your financial planning and return on investment (ROI).

With a resale property, what you see is what you get. There’s no waiting period. You can inspect the property, know exactly what you’re buying, and move in as soon as the paperwork is done—no surprises, just certainty and convenience. This certainty allows you to stay worry-free and focused on your next life goals.

Properly Maintained

Resale properties are typically well-maintained, with renovation cycles occurring every 5-6 years, ensuring the building looks younger and more solid compared to newer constructions.

Already done with maintenance fixes

New properties may look perfect at first glance, but they almost always come with their share of problems. Plumbing issues, electrical faults, and minor structural flaws that often surface within the first few years may make you spend time and money on repairs. Resale homes, however, have already weathered their initial issues. The previous owners would have taken care of most construction-related fixes, allowing you to move into a home that’s already settled. This can save you significant time, money, and stress compared to dealing with the unavoidable occurrences of a brand-new property.

Settlin is modernizing real estate resale for you

Settlin works as a single point brokerage platform that uses an array of Apps and dedicated customer-success teams to help you deal in resale properties without any hassle. It offers you the exclusive properties based on your preferences. Want to know what more it offers, check below:

• Settlin streamlines your property search by offering a comprehensive database of serious sellers, ensuring 100% availability and decision-ready profiles.
  
• Our exclusive listings are competitively priced, giving you access to the best properties in Bangalore’s competitive market.
  
• We manage property visits with precision, recording your feedback to refine future recommendations and make each viewing a positive experience. 
  
• Settlin’s customer-friendly portal allows you to filter through over 85 parameters, helping you do an apple-to-apple comparison among the ideal properties that match your specific requirements.
  
• When you find a property you love, Settlin facilitates a smooth transaction process. Best of all, we provide this end-to-end service at zero brokerage cost, making your journey to homeownership in Bangalore both efficient and economical.
  
• And, we also provide free legal opinions from reputed firms.