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old vs new property

Old Vs New Property: Which One Is Right For You To Invest In

April 27, 2021

Congratulations!

You are thinking business and you are doing that also.

However! Investment in a property for a business purpose is definitely a good thing for a smart income. But it is a strong debate that old vs new property: which one is right for you to invest in. And this is not a matter to tell you in a few lines. It needs detailed discussion to invest in the right place after understanding top to bottom, right?

Well. It’s not important where are you going to invest? Rather it’s important you have to make your profit healthy.

Some people blindly say that a new property falls its regular price just after a few days if it is owned once. But many people can make a healthy profit from their old property. On the other hand, the opposite examples are there also.

That is why before going to the deep analysis we can’t give you the answer straightforward. Let’s find out the actual thing to reveal which one is better for you for your business. Let’s go.

Some Factors That Helps You In taking Decision

You have to think about some factors before going to purchase any property. No matter either it is new or old. It also depends on your financial capability and what can you!

Budget

Yes! The budget should be your first concern. You have o always keep in mind the price of the property you are going to buy. If you have the opportunity to take a loan, you surely go for that if you feel comfortable.

You can also understand the new property definitely requires high price than the similar size old one. Definitely, the price of the property depends on its location, size, and its quality. You have to spend more money on the new property than the old one if all these are the same.

If you have a budget issue and can’t manage more, the old one is right for you. On the other hand, a new property you should buy when you are more concerned about the future if you can afford it.

Think About Repair Cost

This point is usually applicable when you are thinking about old property. It is very usual that you have to repair many things in the old property. You may see all are going so well, you want to upgrade and repair many things even then. But the new property doesn’t need this usually as it is not used and new. If you buy the old one you have to calculate the repair cost and then compare it with the same size and same quality new property. You have to calculate this thing by the professionals otherwise you may be cheated. Be careful about this.

Opportunity

Primarily though it doesn’t seem much important but it is. What opportunity will you have to add more features and unique design? If it is a new house, apartment, or other new property, the chance is more usually. But in the case of an old apartment or property, the opportunity is limited. Even then you can add many features and designs to the old property but you have to do by reconstruction many things. And it costs a lot. So keep it in mind.

Utility Connection

It is a big issue for someone now. In Bangladesh, you know the gas connection is not given since many years back. When it will be connected no one knows. That means you will not get this connection in case of buying a new apartment, house, other structure. But it is a plus point for you in case of buying an old house. So, it’s a benefit for you undoubtedly. At the same time, you have to check the satellite and internet connection availability in case of buying a new apartment.

Support

How many supports do you will get for the property is important! Nowadays, people are less likely to buy a house or apartment where the elevator, generator, fire safety, and other services are absent. Having these support services property definitely requires more cost but you will also get good value for it. On the other hand, these facilities are not common in old stuff.

The Benefits of Buying New Property

A lot of benefits a new house, build, apartment or other property offers you. At first, it doesn’t need any repairmen, upgrade, and more money to add many features and creative things. And most importantly, it comes to you with the latest and upgraded technology that everybody likes.

The new apartments and houses are also built in such a way they are eco-friendly also. It is also proven that newly builds generates less carbon dioxide (CO2) than the old structure. That means it’s good.

Another notable advantage of getting new infrastructure nowadays is security and protection. Almost all new homes are built under builder’s warranty insurance. They take proper steps as it doesn’t go under a major defective or structural issue.

If you can manage all the things properly and can sell them at a standard price, it makes you benefited no doubt.

The Benefits of Buying Old Property

An old property also offers you plenty of advantages over the new one. If you think of a house, most of the mature houses are already located in the place which is already a wonderful living place. On the other hand, the new apartments are commonly located peripherally in the town. Neither they are located just beside the ongoing construction.

The old house or old property also has more land value than the newer property. The land on which a structure was built in the past is more valuable than the new-build ground. Sometimes, the value of the land is more than the value of the builds.

Another important fact is the old property has more resale value usually. On the other hand, the new property gets more resale value over time.

So, What Should You Do?

The content already has reached just to the end. And it is time to collapse the whole information into a few lines. So, it’s the time of taking a decision. In the end, we tell you just a few sentences. Investing in a new property is almost always a profitable business if you don’t do any big mistake. On the other hand, business with mature house gives you the opportunity to profit comparatively a bit more percentage. But all steps you have to do with no mistake and very properly.

Hopefully, you can take the decision now between old vs new property: which one is right for you to invest in!

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