Everyone is bent for a ready-to-move-in home and the reason is simple! In case of buying a ready-to-occupy home, the owner can shift immediately and do not have to pay the rent and the EMIs together. While that can be a solid argument for buying a ready-to-move-in home, an under construction apartment or home also has its benefits, which according to many, outweighs the benefits of a ready-to-move-in home. Especially from the standpoint of price escalation and return on investment, the value increment is much more in case of an under construction home than a ready-to-move-in home. But as always the case, most of the 2 and 3-BHK apartments for sale are under construction than the number of ready-to-move-in 2 or 3 BHK-apartments for sale of which there are quite number of resale flats as well. Here we elaborate the benefits of buying under construction homes in detail.
The demand for the ready-to-move-in projects and homes are not only high but the prices are also high as well. On a sharp contrast, the prices of the under-construction homes are lower than the ready-to occupy homes. Although the number of ready-to-move-in homes is less in number, the options for the under-construction properties in any area are higher. With the enactment of RERA, the developers are bound to deliver the property within the scheduled time and if not they are liable to pay for the damages. So with this legislation in place that protects the customers, the risk of buying the under construction projects is barely minimum.
The greatest advantage of the under-construction property is they can be purchased at a comparatively lower price than the ready-to-move-in properties in the same locality. Counting the time of booking and the time of possession the escalation of the price is the advantage that the purchaser gets. On top of that, there are even affordable apartments and developers in this segment who sells these apartments at even more affordable or cheaper rates. This gives the purchasers extra mileage and the time spent on construction actually works in favour of the purchaser.
Exercise of Choice
For the reason that a ready-to-move-in apartment is high in demand, the choices that is left with the buyers are less. In this scanty number of apartments, the chances that the purchaser would get the right apartment or home according to their choice or preference are lesser. In case of under construction properties, the chances that the buyer would get a home according to their preference are much higher. They can even choose the right apartment with the right Vaastu settings and the neighbourhood can also be chosen according to their preferences too from the available apartments.
At the construction stages, the developers face a cash crunch and so the offers and added discounts are flaunted. The buyers of the under construction properties can take advantage of such offers and paying such prices puts them in a price advantage already for them to be waiting for the price escalations. If proper due diligence is done for the price escalations and growth of property values, the buyers would be at an advantage and can reap the price escalation of properties and return on investment.
Flexibility in Payment
In case you buy a ready-to-move-in property from the 2 or 3-BHK apartments for sale you have to make a lump sum payment and on the contrary, if you buy an under construction property the purchaser just have to pay 10 to 15% of the property price as an advance and the rest on finances from the bank. There are pre-EMI options also where you start paying the EMIs after possession. This makes the buyer free of the burden of paying the housing rent and the EMIs together. In case of an under construction property the flexibility of payment frees the purchaser of making a lump sum payment at once.
Newly Constructed Property
Buyers who need ready-to-move-in properties end up buying second-hand flats from owners already occupying the apartments but in case of under construction properties, the home is completely new. It makes sense to own a property that is totally new as there would be no repair and extra maintenance costs too.
Click here to choose a great property, a home or an apartment under construction at any part of Bangalore at the least of cost. There are even one, two, and three-BHK apartments at the best of locations at the most sought after places of Bangalore of which you would get possession in just a few months. To have a word with an experienced property consultant for investment decisions.