Pros & Cons of Resale Property in Chandigarh

Chandigarh is a beautiful city with many properties, where so many people have dreams of living. It is a clean city which was planned before it the made, which makes it the perfect place for peaceful people. You will find both new and resale properties in Chandigarh, with the older ones being different. Are you thinking of buying a resale property in Chandigarh? Don’t worry, you’ve come to the right place, as this blog talks about that very thing in Chandigarh.

Here, you will learn all the pros and cons of buying a resale property in Chandigarh, so get ready. Resale properties in Chandigarh have immediate availability, where you can move in right away. In some areas of Chandigarh, resale properties are very cheap compared to new ones. Everything is ready in these kinds of properties, so you can visit the neighbourhood to assess everything. There are some drawbacks as well, which include the risk of hidden issues.

Read more: Pros & Cons of Resale Property in Chandigarh

What Are The Types Of Resale Properties?

Flats:

This is the most common type of resale property in Chandigarh, which comes in a variety to choose from. You can try both from budget-friendly to luxurious ones, as both are there in Chandigarh.

Independent Houses:

Chandigarh is known to have luxurious resale independent houses, which are very common there. You will like them as they are found in well-maintained sectors, both small and large.

Plots:

Derra Bassi is popular for having the most resale plots, which are good for investment in this type.

Builder Floors:

Builders Floors can be seen in many locations of Chandigarh, as they are getting popular day by day in various sectors.

Pros of Resale Property in Chandigarh:

Immediate Occupancy:

New properties sometimes can be under construction, which means you have to wait to move in, which is not the case here. In resale properties of Chandigarh, you can move in as early as you want, which is a plus point.

Lower Prices in Certain Areas:

If you go to some older sectors, resale properties may cost way less than new ones in Chandigarh. This way, you can buy or rent properties for cheaper in prime locations of Chandigarh.

Established Neighborhoods:

Resale properties are mostly found in areas where the neighbourhood is already developed, which is another plus point. These houses will have well-built parks or amenities, so you don’t have to wait for them to be made.

Here are the already built amenities you may see with resale properties:

• Well-developed infrastructure
• Schools
• Hospitals
• Shopping centers

Reduced Initial Costs:

You may not have to pay initial costs here, as that is already done in most resale properties of Chandigarh. This way, you don’t have to do fixings and fittings in the property yourself, which will save you time.

Assess Condition and Neighborhood:

Resale properties are mostly available to visit in Chandigarh, so you can assess their conditions before deciding anything.

Cons of Resale Property in Chandigarh:

Higher Maintenance Costs:

Maintenance costs of resale properties can be higher, especially in Chandigarh, which is an issue. Another thing is that you would need to maintain the property more frequently, which costs even more.

Hidden Issues:

Mostly, resale properties have more issues that can’t be seen at first glance, which are there because of the old condition.

Here are some of the things that may cause issues in the resale properties of Chandigarh:

• Property Structure
• Plumbing
• Electrical Wiring
• Other Systems

Less Flexibility in Design:

If the resale property you’re deciding on is in a larger complex in Chandigarh, then flexibility won’t be there. This is because resale properties have many factors that limit flexibility, which is an issue.

• Layout
• Design
• Renovations

Potential for Overpricing:

Many property owners set a higher price for their properties in Chandigarh because of emotion, so that is an issue. This is also the case when the property is in a desired location of Chandigarh, so it gets more expensive.

Difficulties in Securing Loans:

Sometimes you won’t get a loan for properties like these, especially if they have structural issues, because it’s old. This is because older properties can’t be trusted with safety a lot as there can be some hidden issues.

Conclusion

Resale properties are getting popular in Chandigarh day by day, as people buy them. This is because of their cheaper cost than the new ones, which is a reason to invest. There are many types of resale properties in Chandigarh, with plots and flats being included. These resale properties have many pros and cons, which are explained above in this blog. You can decide whether to buy these or not, as it depends on your needs, other than the pros and cons.

FAQs

Q – Should I invest in this in Chandigarh?

A – It is one of the many preferred locations, while being the happiest city in India, with safety.

Q – Which is the best area for residents in the city?

A – Sector 8 is the best without a doubt, as it has the most commercial and residential options for people.

Q – How to know if the resale property has value in Chandigarh?

A – To check that, determine the resale property by these things:

• Market Research
• Location
• Property Condition
• Future Development

Q – What issues can be there in the resale market of Chandigarh?

A – Here are some of the issues you need to be aware of in the resale market of Chandigarh:

• Waterlogging
• Traffic Congestion
• Parking Issues
• Legal complications