Why Buying a Brand-New Flat Is Safer Than Buying a Flipped House?
In real estate investing, buyers constantly find themselves choosing between a brand new flat vs flipped house. Buying a brand-new flat ensures legal clarity, structural safety, and builder warranties. Flipped houses may hide defects or outdated materials beneath cosmetic upgrades. While they may both look appealing, it is important to understand the long-term safety and monetary integrity of your investment.
What Is a Flipped House?
A flipped house is a property purchased by an investor for a low price, where they make upgrades quickly and sell it for a profit. This process is popularly known as property flipping, and it’s becoming more popular due to more and more investors entering the quick-turnaround market and reality shows about them.
While flipped houses can appear brand new, they are not necessarily. Many flipped homes are renovated with budget limits and/or a timeline that leads to construction shortcuts or alternatives.
Brand-New Flats Vs Flipped Houses: Specific Differences
Construction Quality
Brand-new flats are constructed by reputable developers who adhere to safety codes and building regulations, and often have quality control checks in place. Additionally, you get warranties on the structure and fixtures.
Flipped homes are structurally sound and look new but have the potential to conceal unrepaired construction flaws. Constructions or renovation details may cover up a faulty wiring job, poor plumbing, or foundation problem.
Transparency and Documentation
All legal documentation, such as RERA registration, approved floor plans, and approvals should be in order when buying a new flat. Builders provide documentation that allows you ample peace of mind.
Flipped properties may have cloudy title, approvals that have expired, or liens hiding in the shadows of decaying paperwork. Do not cut corners and check the Real estate investment property report before you close.
Why Choose a New Flat over a Flipped Home?
Developer Reputation and Guarantees
When you purchase and develop a new flat from a reputable developer, you can expect that it is also likely insured, RERA compliant, delivered as promised and usually have:
– Structural warranties (typically 5-10 years)
– Maintenance-free time period
– Legal transparency
There is a significantly lower risk when investing in new flats are ideal property investment options, or if you’re just starting to think about an investment plan in property.
Modern Amenities and Infrastructure
Modern apartments are created keeping in mind the habits that accompany present-day lifestyles, including power backups, fire safety systems, smart home features, etc. Flip homes may not have any of this unless upgraded yourself, which is likely to be at an additional cost.
Energy Efficiency and Compliance
New builds are more energy-efficient as current building materials and regulations have changed. Flipping a home especially old fixtures still might increase monthly cost for utilities.
Risks of Buying a Flipped Property
Cosmetic Fixes Over Structural Repairs
Flippers will generally update the cosmetics like paint, flooring, or kitchen cabinets, but anything that involves repairs to the house, such as seepage, malfunctioning electrical work, or damaged foundation, may not be repaired or properly addressed.
Hidden Costs
– While a flipped property may look like a bargain, the potential for hidden costs remains:
– Replacing plumbing or wiring.
– Roof repairs
– Structural modifications
These costs can significantly inflate your house investment over time.
Lack of Guarantees
Flipped homes do not offer the same structural and servicing guarantees as new flats. Once you sign the documents, it becomes your sole responsibility.
Best Practices Before Buying a Flat
If you’ve decided to invest in a brand new flat vs flipped house which is better, here are some useful tips to help you make the most of your property purchase:
Confirm RERA Registration
You should confirm the project is RERA approved to protect your legal right to your property.
Look at developer credibility
Choose a builder that is reliable, has a history of finishing on time, and their projects are a quality build. Consumers can check online reviews or look at past projects to determine reliability.
Examine the amenities and design
Review the flat buying guide aspects including ventilation, security features, open areas, and future connectivity to schools, hospitals, and transportation.
Know about maintenance and charges
New flats often have maintenance costs fixed for a length of time, and come with facility management from a professional – a feature often lacking in standalone flipped homes.
Is It Safe to Buy a Flipped House in Gurgaon?
If you’re buying in a city projected for higher growth like Gurgaon, you may want to be a little more cautious in general. Be sure to:
– Hire a structural engineer to inspect the home
– Verify the renovation timelines and quality
– Double-check title clarity and loan eligibility
In many situations, buying a new flat in an already developed society in Gurgaon has better long-term returns and fewer legal risks.
Conclusion
Today, a house isn’t simply somewhere to live – it’s a bucket of money. House flipping might provide inexpensive or fancy looking properties, but the risks of purchasing a house with a renovation usually outweighs the momentary gains.
Alternatively, purchasing a new flat provides greater quality, transparency, warranties and the security and comfort of knowing what you are getting – especially for a first time buyer or anyone pursuing a premeditated decision regarding their real estate investment.