Updating and upgrading for a better option for assets is the best way we humans can advance in our lives.
And when we are talking about a home, there are many important decisions and emotions that come attached to it.
Selling your old home for a new and better one can be a good idea if you feel capable of doing so.
But will it be a good idea here in Pune?
It could be terrifying to plan an upgrade and not get anything worth your energy and expenses in today’s time.
How can it be a good idea to move to a new house?
The better project, better quality
When you decide to buy a new house selling the old one, you get an appreciated price on your old house. Apparently, you get to choose a premium property which could be a newly built structure. If your old home is in a crowded locality, you can choose a more serene location with less crowd and get more space for the same or lesser price depending on the factors like location, amenities and features of the property.
Let’s take a live example of Pune city.
Suppose you have a 2BHK apartment in Kothrud or vicinity with around 1200 sq.ft. of carpet area. You can sell this apartment for 1 cr. or more considering the appreciation of the location and get a 3 BHK home in the area like Hinjawadi or Wakad.
You get a new home in a more peaceful location and better amenities with fresh construction.
Taking a loan for buying a new home while selling your old apartment is one of the major things to consider.
In some situations, you will need to pay more for your new home while updating.
Here, if you have an outstanding loan for your old home, you can talk to your bank personnel and then decide on the selling price.
If you don’t have any outstanding loan on your old property, you can get a new price that you can easily invest in the old home. Here you might get a benefit of indexed cost of acquisition. Indexation benefit is on the long term capital gains, discuss this with your financial consultant.
With a new home, you naturally get updated amenities. better & alluring interiors, new colours on the walls, spacious parking to name a few.
Most importantly, you get a new locality and a new neighborhood. You can still invite your old neighbours to enjoy your dinner with them. A new home, located near your workplace that comes with better facilities, is a sure shot way to uplift your lifestyle and let yourself breathe more.