Primary market or secondary (resale)?
While some people prefer to buy a home from the primary market, others could explore the secondary or resale option.
Here are a few of the pros and cons of buying from this market.
One of the advantage of buying a property in the resale market is the possibility of getting a handsome discount. There could be several reasons to that. The market fluctuation or the demand that usually generates the supply. An investor could have bought a number of units off plan at a good discounted rate, made some profit on them and now is willing to turn them into the cash. It could also be the desire of the owner to sell fast that is mainly due to the urgent need of cash.
Additional bonuses such as furniture included, taxes and connections are paid for could also be offered in the resale option.
When buying off-plan or from the developer then you have an opportunity of benefiting from the payment plan option, which could include interest free installments or a loan from the developer. This is hardly available on the resales. However, you can always apply for a bank loan on a resale property.
When viewing a ready to move-in property (resale), you also get a chance to get to know your neighbors and local community. The infrastructure of the area where the property is locate is developed and complete.
Primary market or resale, you decide! In any case, you are entitle to a living permit once you purchase a property in Northern Cyprus.