Benefits of Buying a Ready-to-move-in Property Vs. an Under Construction One
01 Sep 2016
Buying a home is one of the most exciting yet complex tasks - it’s full of long-drawn procedures and difficult decisions. The first question that pops into mind is whether to buy an under-construction property or a ready-to-move-in home.
Here we bring you the advantages of both the options so that you can decide on the best one for you!
Pros of Buying an Under Construction Property
Easy on your pocket
You can buy an under-construction home for a cheaper price than ready-to-move-in homes.
Flexibility in payment
Furthermore, the payment process for an under-construction home is more convenient, as you start paying slowly at different stages. EMIs are paid as the work progresses.
You get higher returns, as there is a good scope for price appreciation due to future development.
Pros of Buying a Ready-to-move-in Property
You do not have to wait to move into your new home. All you have to do is make the payment, sign the necessary documents and move in!
You have an idea about the locality
Since the housing complex is ready and there are probably people already living there, you can easily get feedback about the locality, maintenance, utility centres and more.
No construction delays
There is no uncertainty about the timeliness as the home is already built and complete.
Relief from paying rent and EMIs simultaneously
You don't need to pay rent for your existing house and EMIs for the under-construction one at the same time.
No Service Tax
By buying a ready-to-move-in home, you do not have to pay service tax.
If you are ready to wait for a new house, then you may go for an under construction property. On the other hand, if you want immediate possession, you may go for a ready-to-move-in home. However, the decision solely depends on you!
Authored by Goel Ganga Developments, one of the best real estate developers and builders in Pune