An older property is usually available at a lower price than a new construction as property value depreciates with age.
Housing prices have risen nearly 5 per cent across the country’s top- eight cities between January and September, according to a report by PropTiger, owing to an increase in the cost of raw materials like cement and steel, and growing demand for housing. If you wish to save money on house purchase, consider buying an older property.
An older property is usually available at a lower price than a new construction as property value depreciates over time. Experts vary in their estimates of the price advantage you can gain by going for an older property. Santhosh Kumar, vice chairman, ANAROCK Group says the price difference can vary from 3-5 per cent in some cases and go up to
First Published: Nov 24 2022 | 8:26 PM IST