Why a New Flat is Better Than an Old One

In Real Estate, Residential Property

When looking for a flat in a city like Mumbai, especially when on a tight budget, one needs to analyze the investment opportunities that are available in the city. Many a time, due to budget constraints, buyers are forced into purchasing a flat that is not their preferred choice.

Finding a flat in a new building:

When looking to invest in a flat in a new building, purchasing a flat n a new building comes with a whole set of benefits. Flats in new buildings come with amenities that may not be seen in older buildings. Amenities such as a recreational centre, garden, gym etc that are seldom seen in older buildings.

Placing importance on safety:

As opposed to old buildings, flats in new buildings come with some of the best safety features, such as earthquake resistance, fire exits and fire extinguishers, CCTV surveillance etc. that come standard in every new building. So from a safety perspective, purchasing flats in Vile Parle East, especially ones in new buildings are highly advisable.

Attention to detail:

In recent years, builders have been paying close attention to the spacing and comfort of flat buyers, by making the best usage of space, thus making your stay in the flat a comfortable one. Builders nowadays consult interior designers and professionals while designing the building and the flats.

Value for money proposition:

Purchasing a flat in a new building will ensure that you get a bang for your buck, and while you may spend a little more than buying a flat in an older building, it becomes a value proposition, as a new building will obviously require fewer repairs, will not need redevelopment for a longer period, as opposed to older buildings, and if you intend renting out the flat, then you will get a much higher monthly rent for the same.

New buildings just don’t look attractive, but place a lot of emphasis on comfort, safety and convenience and it definitely makes more sense to purchase a flat in a new building.

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