New vs. Resale Homes: Pros and Cons for Homebuyers in Bengaluru

When it comes to purchasing a home, one of the biggest decisions you’ll have to make is whether to go for a new or resale home. Both options have their own advantages and disadvantages, which can make the decision-making process quite challenging. Let’s take a closer look at the pros and cons of new and resale homes in Bengaluru. With the help of this guide, you will be ready to make the right choice and finalize your best-fit option.

Why You Should Consider Getting A New Home?

  1. Customization

The major advantage of buying a new home or a flat in central Bengaluru is that you have the ability to modify it to your liking. From choosing your own flooring and paint colors to selecting the fixtures and finishes, you can make the home truly your own.

  1. Energy Efficient

New homes are designed to be energy efficient, so they come with the latest appliances and systems to save you money on utility bills.

  1. Warranty

Most new homes come with a builder’s warranty, which can give you peace of mind knowing that the builder will take care of any defects or issues.

  1. Modern Amenities

Modern homes come with modern amenities such as smart home technology, video door phone systems, and state-of-the-art appliances.

Challenges Of A New Home 

While most builders strive for high-quality construction, there is always the risk of defects or issues that can arise in a new home.  The cost of these homes is typically more than that of resale homes, which can be a challenge for some homebuyers. 

Also, new homes are often built on a tight timeline, leading to construction issues such as rushed workmanship, potential oversights in quality checks, and delays in addressing any unexpected challenges that may arise during construction. 

Also Read: Parkwest: Exploring This Green Oasis in Bengaluru

This is why it is always advised to opt for homes in reputed builder’s projects like Shapoorji Pallonji and their projects like Parkwest. Reputed builders always have strict quality controls to which they adhere.

Why You Should Consider Getting A Resale Home?

  1. Affordability

Resale homes are often more affordable than new homes, which can make them a great option for homebuyers on a budget. However, things are changing now, and new homes are available with an attractive price tag and a whole bunch of schemes.

  1. Established Neighborhoods

Usually, resale homes are located in established neighborhoods with mature trees and landscaping, giving the home a sense of character and charm.

  1. Move-In Ready

It’s easy to find resale homes that are move-in ready. You won’t be waiting for construction to complete or dealing with potential delays. However, some new projects also have ready to move in flats.

  1. Negotiable Price

Unlike new homes, resale homes are negotiable in price, allowing you to get a great deal. However, nowadays, developers offer attractive schemes to fit the buyer’s budget and payment schedule.

Challenges That Come With Resale Homes

Resale homes may require more repairs and maintenance than new homes, which can add up in terms of time and money. 

Also Read: NRI Investment Opportunities in Bengaluru Real Estate

In contrast to new homes, resale homes do not come with a builder’s warranty, which means you will be responsible for any repairs or issues that arise. These homes might also not have the latest amenities and systems, making them less energy-efficient and more costly to live in.

Ultimately, the decision comes down to your personal preferences and priorities. If customization, energy efficiency, and modern amenities are important to you, a new home may be the way to go. If affordability, established neighborhoods, and move-in readiness are your top priorities, a resale home may be the better option. 

While resale homes might feel right for you considering your budget, there are projects such as Shapoorji Pallonji Parkwest, which provides new homes at an affordable rate with full amenities. These amenities include modern interiors, state-of-the-art facilities, recreational spaces, and a vibrant community atmosphere. Whatever you decide, be sure to do your research and work with a trusted real estate agent to find the home that meets your needs and budget.