Is a 40-year-old house worth buying?

Is a 40-year-old house worth buying?

Is a 40-year-old house worth buying? This is a question that most home buyers are concerned about, and it needs to be considered from two aspects: pros and cons, as follows:

1. Advantages of buying a 40-year-old house

A house with a 40-year property right It is not a house with small property rights, nor is it an illegal building. It can be purchased normally. The property rights mentioned here refer to the land use period, which is the 40 years stated on the land use certificate.

2. Disadvantages of buying a 40-year-old house

After buying the developer’s 40-year property rights, you cannot actually own the house for 40 years. The property rights need to be renewed after the expiration of the property rights. Under normal circumstances, 40-year property rights are for commercial, tourism, and entertainment land. The water and electricity bills for residents of such houses will be priced according to commercial standards, which is higher than the price of electricity and water for ordinary residents.

For a 40-year-old house, you can buy it as long as the two certificates of the house, namely the property ownership certificate and the land certificate are complete, but if you need to use a loan, you may not be able to get a loan for a 40-year-old house.

In short, whether this type of house is worth it or not requires comprehensive consideration of various factors and an assessment of its risks. If it is determined that this area will be demolished, it is worth buying; if it will not be demolished in the future, it is not worth buying.