how to increase the value of a home ? Here are 8 best things to increase home value

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Are you buying your first home? There might be a
lot of confusion. One of the first questions that
might pop up in your mind is whether to go for a
newly constructed one or buy a resale home. An
important reason why many look into resale areas
is because of the difference in rate compared to
new houses, but there is more to know than just
that if you are considering buying a resale
flat. Lets see into the pros and cons of buying
a resale property
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Pros of buying a resale property Affordability A
s we discussed above, this is the major reason
people prefer resale houses. It has a low down
payment and cheaper interest rates making it
suitable for buyers with low to moderate-income
levels. In Mumbai Metropolitan Region, the
average house price rose by 1 y-o-y to INR 9490
per sq.m. So its obvious people search and
prefer resale flats in Mumbai and all over India.
Available in the desired locality Trying to buy
a newly constructed house or land in a popular
area is not as easy as it sounds. It might take a
long time before you land on one which suits you.
Whereas when you go for resale houses, it is much
more easily available. Resale properties are
usually located in a neatly-formed neighborhood.
Hence, it is very much suited if you have a big
family.
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Room for negotiation As you will be buying from
a person and not a company, there is always room
for negotiation. The negotiation not only will be
from the main amount but also can be in the form
of furniture which the old owner is willing to
leave. If he decides to leave even two ACs in two
bedrooms, you have saved about Rs.50,000, which
is a good deal. Advantage of Tax
Benefit According to the Income Tax Act, up to
Rs.1 lakh can be exempted on principal EMI which
can be availed under 80C, and up to Rs.5 lakh
availed under 24B, when it comes to resale
houses. Save up on EMI and Rent If you are
buying a newly constructed house, you might have
to wait and meanwhile pay rent for your current
house for a time till the house is fully
constructed, which need not be the case in buying
a resale property. You can save additional
interest on EMI being paid for the house under
construction.
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Cons of buying a resale property Requires extra
maintenance Generally, any resale house needs
extra maintenance. Buildings that are older than
five or ten years are something you should run
away from. Even after checking the age, the
building necessitates multiple repairs and
renovation works to be suitable for you. There
might be certain technologies that would not have
been installed before which you might need to
adjust or add on to the renovation works. With a
new home, all these worries and mix up have no
place. Need to adjust with certain styles No
matter how much renovation you do, you cant
change the entire style or the layout of an
already built house. You have to come to peace
with that fact. You might have to sacrifice a few
personalized aspects you wanted in your dream
home if you are going to settle for a resale
house.
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Clear out dues Before fixing the house, you must
look into the mortgage payment history and be
thorough that the house is free of all past dues
and fees. The old owner might not even know it,
and it can accidentally fall on you which can be
inconvenient. You might also want to clear out
all the details in maintenance or leakage works
that the previous owner missed out on to inform
you. Tricky Buying a resale property is more
than just like the house. This has more paperwork
and formalities than buying a new one like
environment clearance, title clearance, society
incorporation certificate, allotment letter, sale
deed, NOC, etc, Usually hiring a lawyer is
advisable. There will be verification of lethal
documents like an occupational certificate, a
title deed, approval from municipal authorities,
etc, Not that buying a new house wont have
paperwork, but this carries more risk and stress.
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• Precautions
• These are important points that you might want to
  keep in mind to keep yourself from any legal
  problems or future inconvenience if you decide to
  proceed with buying a resale property
• Be sure of the buildings age and calculate the
  repair works.
• Be sure and double-check all the documents with
  the help of a lawyer.
• Make sure there are no fee dues.
• Be ready to negotiate, and get yourself a good
  deal.
• As this will be located in a formed neighborhood,
  make sure youve got good and manageable
  neighbors.
• Verify all the amenities that might be missing
  compared to present houses.

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Contact Manishved Estate to find out the most
suitable property for your need.
91 9820541849
info_at_manishved.in
Office number 35,1St floor,Above Divine
banquet,Kamla Market,Opp Phonix hospital,
Chikuwadi, Borivali West, Mumbai - 400092
https//www.manishved.in/