Buying a 10-year-old apartment in Bangalore has both advantages and drawbacks. For buyers looking for immediate possession or a home in a prime area, it can be a good choice. Let’s explore the pros and cons to help you decide.
Older apartments are usually in well-established areas. You’ll find schools, hospitals, malls, and markets nearby. Daily life is convenient and connected.
A 10-year-old flat often costs less than a new one. You can own a home in a prime area without paying premium prices. Minor renovations can make it feel fresh.
Societies in older apartments have stable management and established maintenance practices. Common issues are usually sorted out over time.
The flats are ready to move in. If you need a home quickly, you can shift without waiting for construction or handover delays.
Older apartments may need repairs or upgrades for plumbing, wiring, lifts, and security systems. Regular maintenance costs can be higher.
Banks may offer lower loan amounts for older flats. EMI could be higher compared to a new property of the same price.
While land value may rise, the building itself may lose value over time. Resale value can be lower than a newer apartment.
Older flats may lack features like a clubhouse, gym, swimming pool, or landscaped gardens, which are standard in new projects.
If you plan to settle long-term, a new apartment from a reputed builder offers:
Projects like Prestige Evergreen in Whitefield provide durable, luxury apartments with a strong resale value, even after 10 years.
Buying a 10-year-old apartment is ideal for short-term stays, work, or study purposes. For long-term living, investment, or a luxury lifestyle, a new apartment from a reputed builder is the better choice.
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