For some home buyers, the decision of whether to purchase a ready-to-move-in property or an under-construction one is difficult to make. In the end, this decision will depend on factors like what the buyer is looking for and what his needs and preferences are.
Ready to move in Property: Pros & Cons
A ready-to-move-into property is one that’s finished and ready to be moved into right away. As a result, you don’t need to be concerned with the risk of delays in occupancy.
With a move-in-ready property, buyers can check the construction quality and the interiors they will be purchasing. With under-construction projects, they can check the construction and interiors through sample apartments and show flats.
— One of the first benefits of completing a residential home is to be able to see the finished product and be satisfied with the quality of the structural and finishing work. Likewise, there are no opportunities for changes in amenities, layouts, and features.
— Transparency of cost from the financial viewpoint is apparent prior to the signing of your agreement. The price details include interest rates, maintenance fees, and other costs. These are available to you before you sign. When you book an under-construction property in advance, you can secure it at a low price and not have to risk a large sum to acquire it immediately.
— While buying a ready-to-move-in home enables you to write off your GST costs. However, the drawback of these properties is that you are unable to make many internal modifications. They are also more costly to buy than under-construction homes.
Under Construction: Pros & Cons
An under-construction home offers more bang for your buck than the projects that are completed. The price of under-construction house skyrockets as the building progresses. The cost of the building at the time of booking and at the time of transfer is substantially different from the one at the time of booking. Under-construction dwellings provide greater pricing flexibility than move-in-ready residences.
— It offers buyers the opportunity of making payments in installments plus a couple of other flexible options, such as subvention plans, flexible payment plans, construction-linked plans, and others.
— The most significant downside to buying a home under construction is the possibility of the builder defaulting. The builder can drag out completion or incur significant losses with purchasers.
If you’re an investor, the perfect purchase for you is an under-construction property by Vijay Properties at Panvel. Even though the value of the construction is at its lowest, it rises as the house is built. Parivaramm is Eco-Modern Residential Homes in Vavandhal-Chowk Junction, Panvel.