Articles and Advice » Buy New or Resale Property » Advantages and Disadvantages of Resale Property

Advantages and Disadvantages of Renovated Property

A renovated property is actually a resale property that has been renovated before going on sale. Therefore a renovated property maintains all the benefits a resale home can offer to the purchaser plus some additional advantages that may be important to the prospect buyer.

As discussed previously the resale property is bound to be located in central fully organised locations, facilitated with paved roads, schools, parks, utilities connections and connected to the services of local police station, fire brigade station, hospital and community authorities. From another point of view a renovated property on resale is ideal for business and commercial use again due to its central location. Another point that makes buying a resale home a better solution is the fact that older houses are often build on larger plots than the new build properties. Thus allowing to you to add to the structure of the house by building a swimming pool or a storage room for example. Additionally majority of older homes come along with beautiful mature gardens and trees ready to bear fruits. However the fact that resale properties cost less than the newly build ones is the number one reason to buy a resale property.

When looking for a new home, if you decide to buy a house on resale you may realise that a renovated property may be your best solution!

A house on resale that has already been renovated is ready for you to move in right away. It is almost certain that when you have bought a property which has been build some years before you will need to proceed with renovating and mending at least the basic rooms and surfaces before you move in. This may take quite enough time and it will require you to be around in order to organise and supervise the renovation procedures especially if you are one of those do it yourself person. But if you choose to buy a renovated property you will find yourselves one step ahead! You do not need to rent apartment or stay in a hotel during the renovation period which means you save yourself from additional expenses.

One of the greatest disadvantages of purchasing a house on resale is the fact that a house that stays uninhabited for some time and has no proper ventilation is bound to have several problems. Frozen pipes can burst due to sudden temperature fluctuations. As a result the floor in the kitchen and the bathroom will be ruined. Also cabinets are bound warp and drywall may develop mold. With renovated properties on resale this advantages disappears. When you move in a house that has just been remodelled everything is new and clean and ready to use as a recently renovated property is well maintained by the owners. In the same way all the disadvantages of the resale property are turned into advantages when buying a newly remodelled property on resale!

The only what you have to do to start your new life is to unpack your belongings, arrange everything in your cabinets and wardrobes and to bring in your furniture and decorate the rooms. Your walls are ready for your pictures and paintings to be hanged!

Last but not least comes the fact that if you buy a renovated property you know exactly what you are paying for it! Before making the big step you are aware of the full amount that this property will cost to you while with resale properties you may only assume what other repairs will be necessary and how much they would cost. Not to mention that only after moving into a resale property you will find out what needs to be replaced. With resale properties you do not really know if this purchase is ideal for your budget.

Even if everything points towards buying a resale property that has been recently remodelled you have to keep your eyes open!

There might also be a couple of disadvantages when purchasing a renovated property. To begin with the finishes in the property like flooring, tiles, kitchen cabinets, worktop surfaces and colours on the walls will not be what you have selected according to your taste and lifestyle. You will have to compromise with what the owner or the renovation company offers.

Again even if the renovation finishes are all new and shiny what is more important is the work that is done underneath those surfaces.

For example the condition and the quality of the materials used for the plumbing and the electrical systems are critical for the safety of a property as well as the time that will pass before you will need to replace everything. You have to make sure the renovation company has a reputation of quality work and also clear that the owner requested a thorough renovation. Finding yourselves in the most unpleasant situation of having to replace everything again due to burst pipes or malfunctions in the electricity system which can even cause a fire is the last thing you want.

Even if the above disadvantages are rarely confronted in recently renovated properties you still need to ensure that there are not any hidden problems and the property stands for what you want in life and what you are paying. Nevertheless if you weigh the advantages and the disadvantages you may find that a renovated property may be suit your individual needs and also save you from extra costs, time and effort.


Copyright © CyprusNet