What is the note when buying an old house to be successful with this investment channel? Buying and selling old houses is currently one of the effective investment channels to get rich. However, many people receive bitter fruit when entering this field.
Here are the pros and cons of buying an old house that Aequitas Audit shares to help you answer the question: Should you buy an old house or build a new one or buy an apartment with no interest installments ?
Note when buying an old house: Many benefits or potential risks?
Note that when buying a used house, the following summary will answer all your questions. From there you can see the benefits; as well as difficulties in buying old houses. Thereby making the correct decisions as well as bringing the greatest benefits.
The advantages of buying an old house
Old houses have many types and business activities are also very diverse ; from buying old morgues to group houses and cheap old apartments; to the types of townhouses, old wooden houses.
Each type will have certain advantages in buying old houses; But basically still have the following advantages:
Advantage of structure and location
Note when buying an old house about the structure of the whole house
– The house is generally well-structured: old houses usually have a lifespan of a few years before 30-50 years ; However, with manual construction, skilled workers ; With the care of the owner during the construction process, it is still possible to have a good structure ; sure , better than longevity .
Usually, the advantage of buying and selling old wooden houses, built in the past, is that the process of nailing, erecting columns, paving the floor is very sophisticated, so it is quite good.
However, if the house is an old apartment building, the old dormitory area built 40-50 years ago was built with a different process, it has now deteriorated quite a bit ; much more dangerous than the old wooden house.
– Spacious and airy space: old houses often have a large area; and built a large ground to make the house more airy and spacious. Therefore, buying an old house often has advantages in terms of area and living space.
Note when buying an old house about the related internal and external utilities
– Many existing utilities: do not think that old houses will not have smart design or invest in utilities.
In fact, many families sell their old homes in favor of a modern, fully refurbished lifestyle; so they won’t bring old items from paintings to old furniture but will have very good artistic value. These houses are very suitable for those who tend to choose to buy old houses ; to renovate and improve the space.
In general, the location is beautiful: In addition, the old houses often have beautiful locations near public services, schools, hospitals, etc.
Advantages in economic savings for the family
– Advantages of buying a cheap old house: Price is a big advantage when choosing to buy an old house over a new one ; very suitable for those who buy an old house to renovate to live, repair, and rent out. At a much lower cost than new home styles
If you choose to buy a new property, you have to pay a rather high price; not only construction costs but also real estate advertising costs ; interest rate on investment in the project, profit… But if the profit from negotiation to replace nine house prices is difficult.
Disadvantages of buying an old house
– Buying an old house will definitely have to take into account the problem of repair and maintenance: Even if it has a good structure, repair it when necessary and remove the old parts that do not meet the needs. resident. .
At the same time, it is possible that the house has an older architecture than the current one, so it will have to be changed a bit. To ensure safety and adapt to the space, create more comfort in life.
If you buy an old house in the form of an old house with a prime location in the city; The price of those houses is not cheap either.
If you choose to buy old apartments, old collectives ; There will be limitations such as degraded infrastructure, painted walls… but if not maintained, will not be able to self-maintain.
Therefore, whether to buy an old house or not depends on the specific type of house, but there may be suitable options based on the assessment of the advantages and disadvantages of the old house.
Experience of buying and selling cheap old houses and notes when buying old houses
When buying a house to pay attention to what , what is the most important; And the less important criteria? Buying a cheap old house to live in is the choice of many people when they don’t really have enough financial strength to switch to a new high-priced real estate.
Therefore, choosing to buy old houses in Hanoi, Ho Chi Minh City (Saigon) is now very popular; In order to solve the basic needs of housing and is also an investment channel to increase good profits if you know how to analyze experience and note when buying an old house .
The notes when buying an old house are also very important and have similarities with the things to keep in mind when buying an apartment. Let’s find out how the tips when buying an apartment and an old house are similar and different.
Location of the house
Buying a used home can’t ignore choosing a location; Because you need a location that is suitable for living, working and studying needs . Therefore, it is necessary to fully synthesize essential services for life such as markets ; Schools, shopping malls, hospitals… to have the best choice of home location.
Note when buying an old house about the living environment and surrounding neighbors
In addition to the soil factor, the living environment must be clean and safe. In addition, there are human factors, friendly neighbors, and whether the social environment has evils, insecurity or not. It directly affects the life, safety and development of children ; comfort in life.
Check accommodation quality and layout
Buying an old house to repair and live in will need a lot of attention ; carefully check the quality to see if it is too old to repair ; ensure that the structure is still good for repair and living. Refer to the surrounding geology, drainage to avoid flooding…; especially when buying old houses, group houses…
Check whether the functional structure of the house’s architectural space distribution is reasonable. All rooms, from the bedroom to the dining room, bathroom and guest room, need to be carefully considered to avoid an unhygienic and impractical layout in everyday life.
Important note when buying an old house: choose the direction of the house
First of all, it adapts to the climate, ensures the best standard of living, and is in line with feng shui are important considerations when buying an old house .
Shape of house, land
A note when buying an old house is that you need to carefully choose the direction and age in accordance with feng shui to help your soul be peaceful and avoid bad luck. Don’t ignore the feng shui factor when buying an old house for a little bargain or cheap price.
When choosing to buy an old house, you need to check the feng shui factor – the feng shui of that house is good or not. The surrounding land is suitable for feng shui such as the road to the house, located next to hills, stagnant ponds …
If the soil is square or deformed, the square ground will be more beautiful than the deformed ground, and in feng shui, the square or low-lying land will be better than the narrow and lower ground.
The historical origin of the house
Origin, history is a note when buying an old house, a note when buying an apartment. It should be thoroughly examined like when you buy a house to live in, so from time to time find out the history of the house, see if the direction, location, feng shui or house strange things happen. Better to know the reason for the sale…
Through the surrounding neighbors to avoid buying houses with bad history such as: families living with a lot of bad luck, illness, etc., especially cheap old houses to avoid for a small profit.
Assessment of legal issues was noted as an important downpayment
- Legal is a factor that ensures home ownership and land use rights for houses, so buyers should check whether the house or land has a red book, a certificate of land use right or not. Look carefully at the red book and absolutely do not sign to buy an old house without a red book because ownership will not be established. Issues to be recorded in the red book include:
- Check to see who is in the owner’s name, is in the general red book or not?
- The real estate address corresponds to the property you are looking to buy.
- Check the actual area with the real estate registered on the certificate, see if the actual land is small, equal or larger to account for the origin of the land, the selling price… Please bring a ruler so you can check the area. Thorough real estate analysis to help you determine the most realistic price.
- Houses and other properties attached to land must ensure that they are properly recorded on papers: avoid recognizing that a 4-storey 1-storey house on the land is an existing 2-3 storey house that is an illegal construction …
See more >>> 5 “golden” time to find information about selling cheap houses, few people know