The purchase of a property is a significant decision. Keep the secondary or resale market in mind when faced with hundreds of possibilities in the primary market. When the primary real estate market is experiencing a decline, a resale market is a great place to find savings.

2. When the primary real estate market
is experiencing a decline, a resale
market is a great place to find
savings.
The purchase of a property is a
significant decision. Keep the
secondary or resale market in mind
when faced with hundreds of
possibilities in the primary market.
When the primary real estate market
is experiencing a decline, a resale
market is a great place to find
savings.

3. 1.Costing less money :
Resale homes are typically more cost-
effective than newly built ones. You
can also bargain for a lesser price based
on the building's age, interior design
and fixtures.
2. Great Location :
Resale homes are typically more cost-
effective than newly built ones. You
can also bargain for a lesser price based
on the building's age, interior design
and fixtures.

4. 3. Good Neighbourhood
Older homes usually have lots of
space and a certain degree of
character. It is a deal if you discover a
larger resale home offered at a lower
price in a residential area.
4. Rent without EMI
You can avoid paying the extra
interest on EMI for a property still
being built when you buy a resale
home.

5. 5. Installed Features
Basic fixtures and utilities like gas,
power, maintenance, security, and water
are frequently present in second-hand
homes. Before moving in, it could need
some repairs, though.
6. Tax Benefits
As per the Income Tax Act, a tax
deduction of up to Rs. 5 lakh can be
claimed on home loan interest in the case
of resale homes under 24B. Tax
exemption of up to Rs. 1 lakh on principal
EMI can also be obtained under 80C.

6. 1.Age of Building :
The house you purchase should be 5 to
10 years old at maximum. More than
10 years old real estate is not a wise
investment.
2. Unpaid Fees
Before purchase, ensure that the
former owner has paid all dues, such as
fees for upkeep, membership, property
tax or contributions to society.

7. 3. Exorbitant renovation costs
Despite a resale home being fully
furnished, you should be aware of any
renovation costs like painting, flooring,
woodwork and plumbing that require to
be done. Go with the option that requires
the fewest renovations.
4. Affordable home insurance
Most private insurance companies base
their insurance coverage calculations on
the age of the property. They also pay
minimal returns when there is a theft or
natural disaster.

8. Look for minor things like hidden flaws. Deficiencies in the house and try to have them
fixed.
If choosing a furnished home, request all. Warranties of appliances.
Talk to the immediate neighbors and tour the
community.

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