A few years ago, when economic sentiments got high, the economy was on track and people were buying homes, their preferred choice of property being under construction Approved Apartments in Hyderabad. This decision was taken on the basis of various reasons like attractive government subvention schemes that suited their needs at the time, but gradually this trend started to be questioned after the schemes amounted to risky projects. An example would be, the unreliability of projects that either got delayed or stalled resulting in buyers who got trapped under the burden of monthly EMIs and rentals. This led to the rise of an important question debated vigorously among property/home buyers and the real estate builders - The question of choosing under-construction properties VS ready-to-move-in homes.
A ready-to-move project/home is a property where you can shift immediately after purchase. It also means that all the paperwork and clearances for this property are complete, which makes the paperwork for loan processing and sale, much easier. It has been observed that instead of opting from amidst the many subvention schemes selling under-construction properties, buyers prefer ready-to-move homes. And in light of the pandemic and the past experiences with under-construction properties, buyers are now preferring ready-to-move-in homes while others are interested in projects that are in advanced stages of construction. Here, we have made a list of a few points on why people are keen on ready-to-move properties these days.
- A ready-to-move property has its completion certificate in place, which does not attract GST as compared to an under-construction property, which attracts 5% GST of the total property cost. This makes ready-to-move property a better option for buyers giving them benefit from a financial gain.
- Ready-to-move property offers buyers the opportunity to make a decision on purchase after checking the quality of construction material and the promised facilities. Since buying a home is the most expensive investment for most people and in light of developers regarding their promises, most home buyers opt for ready-to-move homes, where you get what you see.
- In the case of people living on rent, they may find it challenging to manage EMIs and rental payments at the same time, if the possession gets delayed, this makes ready to move a better option. Moreover, in case a developer does not fulfill his promise of delivering the property at the stated date, homebuyers have to wait endlessly for delivery and possession, which makes them opt for buying a ready home.
In our final analysis, it can be said that real estate is the best investment and a good asset option, which also promises better returns in the future. The choice of ready to move-in vs under construction is personal and one that depends on the prevailing financial constraints of the buyer and the performance of the real estate market. In case you are planning to invest in a property, you can think of investing in a ready-to-move home, which makes it a safe bet in the times ahead.