Benefits of Buying a Used Apartment in Vietnam

Buying a property in the secondary market in Vietnam has some advantages and also disadvantages that we will list on this article.

ADVANTAGES OF BUYING A SECONDARY PROPERTY

The price

As well as the vast majority of assets, used homes have a differential value in Vietnam compared to new ones (on different projects) in the same location, in addition, there is the case in which you can acquire a property with bigger size, excellent location and with better characteristics than when investing in a new one. Bear in mind that the price per square meter is in many cases cheaper than that of a new home. For example, you can see Vinhomes Golden River & Grand Marina just separated by 50 meters from one another but in terms of pricing per square meter, Grand Marina nearly doubles the price from Golden River.

Cost Saving

When buying a used home with a lower price, you may have a capital that will allow you to adapt the property to your liking and subject to your needs. For example, you can see Vinhomes Golden River & Grand Marina just separated by 50 meters from one another but in terms of pricing per square meter, Grand Marina nearly doubles the price from Golden River.

Immediate Handover

It is one of the main characteristics of a secondary property, you can have the property immediately or failing that, you will only have to wait a few days or weeks while the purchase procedures are carried out, this will generate financial relief.

Urbanized Areas

Generally, this type of housing is located in an already consolidated urban area, this means that there is already an urban development in the sector with access roads, public transport, adequate public services, shopping areas, shopping centers, among others, this will generate a valuation of the property and in the future the sale will be facilitated more. If you want to rent out your property, then this kind of areas usually have a very high demand for rentals, so you can obtain immediate ROI.

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DISADVANTAGES WHEN INVESTING IN USED PROPERTY

Remodeling

It is normal that the used home needs certain rental arrangements, adaptation of some spaces and the change of materials or finishes to make it more modern, the important thing is to determine how much money it could cost you and if it is worth acquiring the property.

Construction time

It is an important issue when making a decision, as there is a greater supply of used properties, you can find homes that have been built for certain years and therefore have suffered a normal deterioration in their structure over time, analyze well this topic before investing your money.

Investigate the Property

Before buying, it is necessary to know the legal status; You should take the time necessary to verify if the property has debts in public services and taxes, and if it does not have legal impediments to be acquired.

Beware of scams

Many people take advantage of the ignorance that they have when buying a used home and that is where they act to scam and steal your money, that is why turning to an expert, such as a real estate agent in Vietnam, will always be a good idea, they have at their disposal all the knowledge of the sector and you will have the certainty of what you are buying, yes, it will generate an extra expense, but it will avoid future problems with your new property.

For units available on the secondary market in Vietnam, please contact me directly via email at: daisy@mycasagroup.com. Your trusted property agent in Vietnam.

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