HomeLifestyleBuy ready to move flat or under construction? Knowing the benefits...

Buy ready to move flat or under construction? Knowing the benefits of both, decide for yourself which option is better.

Highlights

There is no delay in possession of ready-to-move apartments.
Delays in possession of under-construction properties cause problems to buyers.
There is a big difference in the price, amenities and other factors of both the types of properties.

New Delhi. Before buying a house or flat, every person remains in a confusion whether to buy ready to move property or under construction. In the last few years, due to various reasons, big housing projects are stuck and the capital of the home buyers got stuck in it. In such a situation, there is neither home nor money. Ready-to-move or fully-constructed property costs more than an under-construction flat. However, both of these options have their advantages and disadvantages as well.

No one has a clear answer when it comes to investing in ready-to-move and under-construction properties. Actually both the options can be suitable depending on the need and circumstances of the buyer. If you are also stuck in this dilemma, then for a better understanding related to it, you can take a better decision by looking at some aspects.

biggest and most important factor
Generally, there is a big difference in the price of ready-to-move and under-construction properties with similar size and amenities. The cost of a ready-to-move apartment is 10 to 30 percent more than an under construction apartment. Because of this, people give more priority to under construction projects for home buyers or investment purposes.

Also read- Before taking loan against property, do these things thoroughly, there will be no loss

Suppose if a fully equipped ready-to-move-in apartment is available for 75 lakhs, but you can get such an under construction flat from 50 lakhs to 65 lakhs during different stages of construction. Because as the property gets ready, the rates go up.

importance of time
There is no delay in possession of ready-to-move apartments. After buying a house, you can shift there immediately. But if you buy an under-construction apartment, it is a bit difficult to get its possession on time.

Also read- Real estate is the chicken that lays golden eggs in the long term, where will you get the best return on investment?

Although the rules regarding possession have improved after the introduction of the Real Estate (Regulation and Development) Act in 2016, if you want to have peace of mind and avoid the risk of delays, you need to be ready to move. Apartment should be selected.

Features related questions
Whenever you buy a ready-to-move flat, you are aware of what facilities are available in the house and the society. Information about construction quality, location and neighbors is kept. But this is not possible in an under construction property, as it takes 2 to 3 years for a housing project to be ready.

Rent and EMI concerns
If you live in a rented house and buy a ready-to-move-in property by taking a loan, you get instant relief from the rent and the rent is converted into EMI. But this does not happen in an under-construction flat, because its possession takes time, so you have to continue paying the rent. At the same time, interest starts on the home loan.

Tags: Indian real estate sector, Keep these things in mind before buying your own flat, real estate market

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