Wednesday, 3 October 2018

Should Home Owners Prefer Investing In Old homes Vs. New Residential Spaces

It always is special when one plans on investing in a real estate property. This is a long-term decision and residents should always think and strategize their priorities to arrive at profitable decisions. DNR Casablanca by DNR properties is one such project that is strategically located to precision at Mahadevapura in Bangalore. Bangalore has progressed as far as property developments are concerned. The city provides impeccable employment opportunities in the IT sector and enjoys amazing climatic conditions. Considering these factors, residents are seeking out profitable investment opportunities for a bright future. There comes a time when residents are in a dilemma where they are confused whether to go for pre-existing homes or spaces that are newly constructed.

DNR Casablanca project in Mahdevapura Bangalore
DNR Casablanca

This is very crucial as investing for long-term gains has its fair share of risks as well. DNR Casablanca is close to reputed schools, colleges and medical institutions that takes care of overall connectivity and proximity benefits for fellow residents. With amenities and floor to bowl you over, DNR Casablanca Mahadevapura checks all boxes for a fulfilling living experience. Purchasing a home has its own sentimental value. It is a very special occasion when people plan on investing in a property. Residents consulting with friends and family is an important factor in buying a house as an idea of diverse perspectives can result in effective decision making. Rest assured, residents who are willing to partner with DNR Casablanca are in for a joyful ride towards a secured future!

Its often the case that newer homes in and around Bangalore are priced significantly higher that older homes that are up for sale. However, due to rise in demand because of the boom in the IT industry, realtors have come up with effective pricing strategies to make sure residents avail affordable home that are luxurious at the same time. Lets now look at some factors that contribute to great investment decisions when it comes to new homes Vs. older residential spaces.

Impeccable construction expertise

As far as older residential spaces are concerned, residents should note that these structures are persistent from quite sometime and has weathered every kind of weather condition. The architects involved in creating those spaces have incorporated traditional building aspects that holds the space for years to come. With great attention to detail, Older homes have great potential for suitable living conditions. Talking about older residential spaces, the land rates were cheap when compared to current land costs. This results in bigger yards and large open spaces contributing to eco-friendliness at the highest level. Another fascinating aspect about older homes is that the design structures are created with utmost precision and accuracy. These are tribute to traditional architectures that gives it character and a royal touch. When compared to newer residential houses, older homes are often close to renowned entertainment and medical centers so residents can go about with their everyday commute with relative ease.

Limitations in Investing in older residential architectures

However, there are drawbacks to investing or purchasing older homes. Older homes need more maintenance as compared to newly constructed living spaces. This results in more expenditure and fewer long-term benefits. The wiring and plumbing specifications in older homes are not based on the current trend. They might be old and rusted and are not in line with today’s industry standards. Therefore, replacing wires and sanitary plumbing resources would lead to extra expenses.

Brand - new residential colonies - Secure homes for a healthy future

New homes are for a fact convenient in nature. First off, it requires little maintenance as construction materials used are top-draw and architects always think ahead of what is presented to them. With modern conveniences, residents are more than eager to purchase newer residential properties because of benefits like reliability, durability and sustainability. The most interesting factor with respect to new residential spaces is that there are ways to save up on electricity. 

Real estate regulotory authority

Usage of solar panels generates electricity which definitely eco-friendly in nature. In the current scenario, there are property bylaws that should be strictly adhered to. Policies and laws by regulatory bodies like RERA (Real estate regulatory authority) promotes the property and enhances brand recognition. With increase in demand in areas surrounding DNR Casablanca Mahadevapura, prices for new residential spaces has considerably decreased to match the supply-demand ratio.

Drawbacks in investing in new residential properties

Investing new real estate properties has its own share of risks too. First off, realtors find it tough to create magnificent residential architectures and maintain the Eco-friendliness at the same time. Compromising on either one of these aspects can prove costly and can adversely affect the credibility of the residential space or the builder. Another drawback that has to be noted is that new residential spaces often are not well connected to the rest of the city. For instance, residents who plan on purchasing properties further-out from the city find it difficult to get to work on a daily basis because of lack of commute benefits. Last but not the lease, realtors constructing new architectures can never be sure about the soil and overall land condition. This would result in cracks in the foundation of the property, including continuous leakage from walls and ceilings. Builders in such cases, are often late to respond when it comes to warranty and maintenance requests raised by inhabitants.

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