With new constructions rising, especially flats in Oragadam, the demand for new homes is increasing daily. Yet, some people prefer to invest in a resale house. And choosing whether to invest in a new or resale home is a difficult choice; carefully compare and consider the advantages and disadvantages before making a decision.
New or primary homes are acquired directly from developers, while resale or secondary homes are held and passed on by previous owners. However, an individual’s preference depends on their lifestyle choices, finances, and the importance of functional interiors, space configurations, and energy efficiency within their desired budget.
When seeking your dream home, you’ll be at the receiving end of various opinions about new homes and resale homes. While both have their advantages and disadvantages, it is your personal preference that must take precedence over this comparison.
After all, you know best what’s ideal for you. To help you choose the best type of home in Chennai, we have curated this guide to factor in the important aspects of a new and resale home.
Let’s take a look at factors that determine which home can be a better potential choice:
1. Affordability
Affordability is an essential factor to be considered by home buyers. Yes, several potential property seekers prefer resale homes assuming they’ll have to pay less.
But even with resale homes, there are registration fees, property transfer fees, utility charges, and the cost of repair and maintenance.
On the other hand, new homes are constructed in posh, upcoming city localities and will cost you less on maintenance than resale homes.
2. Energy consumption
A new home is a practically better option from energy consumption and green construction point of view.
New constructions meet the national code standards for energy efficiency; they come with the necessary energy certifications, while resale homes are built at lower energy efficiency standards.
To make an existing home energy efficient will cost you a fortune, whereas new homes offer better indoor quality and air filtration, which makes it the right fit for individuals with allergies or asthma.
3. Wiring, fittings, and space flexibility
A brand new home has safe fixtures and fittings that assure a hassle-free moving-in and living without worrying about proper and safe wiring. With a resale home, you are not in charge of the design aspect, while with new homes, you can guide and suggest interiors as per your wish.
New homes have modern layouts, including larger closets, more space, and additional washrooms. And they are preferable owing to being well-insulated due to better window construction and efficient heating and cooling technology.
4. Resale Value
Property is an investment that renders the joy of a home and profit of resale value in the future. Due to multiple reasons like moving someplace else, etc., considering the resale value of your home is important.
Hence, factor in that the resale value of a 20-year-old home that is already resold to you won’t be the same as a 5-year-old new home brought by you first-hand. However, resale homes do have the advantage of giving buyers negotiation power.
As you can see, new and resale homes have distinct benefits. Buying a home is not about investing in a new or used property but determining what is best for you and your family. When it’s about choosing the best Oragadam apartments flats, Oragadam Township is one of the most brilliant investments for apartments in Chennai, be it for a 2bhk flat in Chennai or 3 bhk flats for sale in Chennai.
But why choose Oragadam Township for your home?
1. Strategic location
The township is strategically located between the Grand Southern Trunk Road and National Highway 4, which makes it accessible and well-connected.
Moreover, the Tamil Nadu government’s Oragadam Industrial Corridor road will render additional connectivity. The township is an hour’s drive from the Chennai International Airport and the proposed international airport.
2. Ideal for professionals
Right in the centre of booming industrial activity in Chennai, these Oragadam apartments are based around 22 Fortune 500 companies, including six global car manufacturers.
Manufacturing pioneers like Asian Paints, Essar Steel, TVS, and Apollo Tyres, along with major IT companies, have a strong presence here.
This entails easy access to individuals with job opportunities in high-profile companies, making the township attractive for professionals and their families.
3. Easily accessible amenities
The township is surrounded by hospitals, ace shopping centres, recreational facilities, and educational institutes.
Oragadam has become a reputed name for being one of the best townships for purchasing luxury flats for sale in Chennai.
Right from the moment you step out of the township’s high-speed elevators, Oragadam township’s airy corridors will welcome you to spacious apartments with an impeccable view of a beautiful landscape.
FREQUENTLY ASKED QUESTIONS
- What amenities do Oragadam township’s apartments render?
The township provides abundantly spaced, smart design, premium 2, 2.5, and 3 bhk oragadam apartments with world-class amenities such as a clubhouse, gym, yoga areas, and sports facilities that provide the joy of community living.
Additionally, the township’s luxury apartments are customized to suit the requirements of modern families. The shopping and entertainment arcade feature is an attractive add-on with a resto-bar and 24 X 7 pharmacy.
2. Is it better to invest in new homes than resale homes?
While the statistics support that investing in new homes is better, there are several reasons for it, such as no documentary hassle of transferring ownership and no additional and constant expenses of wiring, interiors, and maintenance.
3. What about the legal compliance aspect of Oragadam Township?
Hiranandani Parks, Oragadam -Chennai, offers RERA and DTCP-approved plots spread over 45 acres in the heart of the Oragadam township.
The DTCP-approved layout includes approvals for carrying out planned construction. The concerned DTP person shares these approvals and are in sync with prevalent rules and regulations.
Additionally, holding RERA certificates indicate legal documents proving the project has been registered with a state-level RERA authority and is safe for a consumer to purchase a property and be assured of possession.