Real estate in Dhaka city is expanding rapidly; meanwhile, people are increasingly interested in buying an apartment instead of renting a house. While some real estate companies offer ready apartments, others feature pre-owned or used apartments. Initially, buyers have to choose between these two options new flat or a used flat; both options have some merits and demerits in this regard.
Whether you are confused, then read the following article to get in-depth insights and take a wise decision.
Merits of New Apartment
- Latest Design & Facilities: As new flats are being constructed in line with current trends, they are modern in design and equipped with essential amenities such as sufficient natural light and air, alternative power supply, lift or escalator facilities, large rooms, enough washrooms, parking area, etc.
- Customization: It is an important advantage for new or under-construction flats. Because you can customize your home based on your taste and preferences.
- Resale Value: Comparatively, a new flat gets a better resale value than an old-fashioned flat. While a new flat is equipped with all the essential features of modern-day living, it holds high resale value.
- Lower Maintenance: Whereas all the equipment of a new flat, from wiring to plumbing, has been recently installed, so you won’t repair it frequently. It is great advantage of new owner.
Demerits of New Apartment
- Highly Expensive: New apartments in Dhaka are very expensive. These flats have been developed for commercial purposes and equipped with all premium materials and modern features. All expenses related to the particular flat have to be paid by the owner.
- Construction Delay: Sometimes, you may face a construction delay issue if you buy a flat in an under-construction project. Even, it may take longer for several months or years.
Merits of Used Apartment
- Budget Friendly: One of the major advantages of a used apartment is budget budget-friendly and comparatively lower priced than a new apartment. When the present owner goes to sell off his apartment, he slashed the price by considering many aspects. Moreover, there is room for negotiation. If you have limitation of budget then you can choose a pre-owned flat.
- Neighbourhood: Another crucial advantage of buying a pre-owned flat, you get a well-established neighbourhood. Being a completely new apartment, its flats are gradually sold and take a long time to develop neighbourhood. In prime areas such as Gulshan, Banani, and Dhanmondi, neighbourhood communities are well-established and very helpful.
- Unique Design: If you are fond of sophisticated and vintage design for your living, then you should buy an old flat. In the last few years, all flats have been built for commercial purposes, and builders have emphasized minimalism rather than convenience and aesthetics.
Demerits of Used Apartment
- Huge Maintenance Cost: Usually, a pre-owned flat comes with so many issues to fix. As all the equipment is old and some is out of service, after purchasing, all need to be repaired. A used flat requires high maintenance costs initially.
- Hidden Issue: Sometimes used flats come with so many hidden issues that can’t be noticed in open eye or the seller intentionally hides these issues. In fact, some flats don’t meet RAJUK and other authorities’ requirements. So, check carefully each and everything related to the flat.
Final Verdict
Choosing a flat between two options, used or new, depends on several factors such as budget, affordability, conveniences, locations, and the buyer’s preferences. Both options have advantages and disadvantages in some cases, so you have to make the right decision according to your affordability. We recommend consulting with real estate professionals or agencies to help you by considering your priorities and preferences.
