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Older house can offer price and location advantage, say experts

But ensure repair expenses don't erode initial gain; also carry out title check

housing, real estate, luxury
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An older property is usually available at a lower price than a new construction as property value depreciates with age.

Bindisha Sarang
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.

Price advantage

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

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First Published: Nov 24 2022 | 8:26 PM IST

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