Business Desk:- Whenever a person goes to buy his dream house, before buying a house or flat, every person is in a dilemma whether to buy a ready-to-move property or under construction. In the last few years, many big housing projects have got stuck and the capital of home buyers is stuck in it. In such a situation there is neither house nor money. A ready-to-move-in property costs more than an under-construction flat.
No one has a clear cut answer about investing in ready-to-move and under construction properties. Actually both the options can be suitable depending on the needs and circumstances of the buyer. If you are also stuck in this dilemma, then for better understanding you can take a better decision by looking at some aspects.
Is it under construction?
Under construction refers to houses or buildings whose construction work is in progress or not completed.
• Facility to choose the house of choice
• Premium or overpayment protection
• Good return on investment
• EMI does not start immediately
• Intentional changes to the home
What’s ready to move in?
Ready-to-move-in properties are those whose construction has been completed and all the major paperwork has been completed. you just have to shift
• immediate availability
•What you see is what you get
• Exemption from effect of GST
advantages and disadvantages
Let us tell you that there are some basic differences between ready-to-move and under-construction properties, which you must understand and must see some of its advantages and disadvantages. After that you can easily decide. A ready-to-move-in property costs more than an under-construction flat. However, both these options have their own advantages and disadvantages. You can understand by keeping a few things in mind.
Depending on the needs and circumstances of the buyer, options for ready-to-move and under-construction properties can be suitable. If you are in doubt then you can take a better decision by looking at some aspects to understand it better.
There is usually a huge price difference between ready-to-move-in and under-construction properties of similar size and amenities.
Ready-to-move apartments cost 10 to 30 per cent more than under-construction apartments. Due to which people invest in under construction projects as home buyers or for investment purposes.
You might think that a ready-to-move-in apartment is available for Rs 75 lakh, but such an under construction flat is available for Rs 50 lakh to 65 lakh. Because as soon as the property is ready, its value increases.
There is no delay in the possession of ready to move apartments. You can shift immediately. If you are going to buy an under-construction apartment, it is difficult to say with certainty whether you will get the possession in time or not. If you are in a rented house and buy a ready-to-move-in property by taking a loan, you get relief from rent, and the rent is converted into EMI.
Which property is better to buy?
If you are in doubt whether to move in under construction or ready to move in. For this you should consider some things.
The biggest advantage of buying an under-construction property is that you get a property that is slightly cheaper than a ready-to-move-in property and once the construction is complete, the value of your property also increases. If you are looking for a property that you do not need immediately, then under construction is a good option for you, but when choosing such a property, how is its image in the market? How many projects have you completed? This should also be taken care of.
Ready to move property is good for those who need to shift immediately. In this, you get the possession of the property soon. However, its cost is higher than under construction.