We all know there is no scarcity of properties in real estate all across the globe. Similarly, there is no scarcity of people willing to buy them either! As you read this very line, there is someone out on a house hunt to find their dream home, and someone finalizing their agreement to take over ownership of their newly purchased property. Are you not reading this article to decide for yourself? Do you also want to make sure you commit no mistakes on your journey to finding a home that caters to all your needs and requirements?
We assure you that at the end of this article, you will have a fair idea of how you want to forward in this journey. Who knows better than us that this house hunting process is not just exciting, but also one of the biggest decisions and investments that you will make in your lifetime? We are here to make sure that you do it right on the first attempt!
Getting back to our topic of discussion, our first and foremost tip is to urge you to not take this decision lightly. Do you market research and be aware of what you are getting yourself into. Taking an informed decision on where you spend your life during the day and where you sleep during the night is extremely important. This decision will not just affect your days or months but will follow you for years, and for some, a lifetime.
When you deep dive into the world of real estate, there will be a lot of questions that will cross your mind. While most of your questions can be answered by the right real estate provider, we want to answer some of your important questions right here. This will give you a head start into the process and will guide you to take some more steps and make a significant process.
Should I buy a property that is under construction or will a ready-to-move-in property be a better option? Usually, this is the first question asked by most home buyers. Let us tell you that the answer to this solely depends on what your priorities are and which type of property fits your financial situation best.
Both the supply and demand of ready-to-move properties have significantly increased. Apartments today have become the need of the hour and are by far the most trending in the real estate market. Buyers not only want an apartment that they can settle down in these days, but they also expect added amenities and comfort like never before. People today thrive on convenience but also at the same time want to experience the hustle and bustle of daily life on a first-hand basis. All of this and more is possible when you buy a ready-to-move-in apartment.
Before you begin with your research, we have come up with a list of benefits that you will enjoy if you decide to buy a ready-to-move-in property. These pointers will help you create your list of pros and cons and will also make you realize what works best for you.
Why Should You Opt for a Ready To Move In Property?
You Can Move Immediately
Immediate availability is an important benefit. There is no waiting period and you can move in the minute you buy the property and sign the closing documents. The best part is that you do not have to wait for years and years to get possession of the finalized property. This is the best choice for people who need to settle down at the earliest, or do not want to wait to be the sole owner of the property!
Low Risk
Everything is right in front of you when you are buying a ready-to-move-in property. Many a time, properties that are under construction experience project delays due to issues with the builder. Buyers might back out at the last minute, leaving you to suffer. With built-in apartments, there is zero risk of delays in possession.
Saves on Rent
Who would want to miss out on a chance to save money? We know you wouldn't! Purchasing a built-in apartment will give you instant relief from paying any taxes. Instead of paying both EMI and rent, here you would just have to worry about the monthly EMIs. Even if you do not plan to stay in the apartment once you buy it, you can also rent it out as a way of earning extra income.
Liberty to Renovate
Renovating our bought property not only gives it a personal touch but also helps us to add or eliminate things that may or may not make us feel homely. Here, you have the independence of making changes to the property once you get the possession. This is a drawback in buying under-construction properties since they have a standard design and they follow a pre-approved architectural layout.
Awareness Of What People Are Doing Around You
You will have the opportunity to familiarize yourself with people living around you - the neighbors. It is wise to have an idea of how mature and active the people in your neighborhood are. These people will be around you for the next few years and you need to decide whether you like to be with them or not. Remember that you and your neighbors will form a community of your own, one that you and a lot of people are a part of. Knowing about your surroundings and society is as important as knowing the people that live in it.
Easy Accessibility
Most built-in apartments have been constructed in and around the desirable locations. To give their probable clients more than just a house, the purpose of the desired location is to ensure good connectivity and accessibility to all essential places. Whether it is the restaurants or healthcare facilities, you have everything at your disposal. Connectivity to public transport or educational institutions is taken care of too.
Zero Risk of Disputed Property
No matter how much research you do, it is likely that you will end up buying a disputed property. Sometimes, sellers market a disputed property as popular and trending so that they can pass it off to potential buyers. To avoid any legal hassle, ready-to-move-in properties give you the option of getting the property checked and doing all kinds of thorough background checks on the same. The good news is that these verification formalities do not even take more than a few days to get sorted out.
Security
All apartments are equipped with CCTV cameras in the lobby, parking lots, hallways, and communal areas. No matter which facility you are enjoying, you are safe. With modern technology-equipped security systems, it becomes impossible for anyone to enter the building without a swipe code or card access. Sometimes you even have to use this as a resident of the building, and to enter the lifts that take you to the flats!
Lifelong Investment
No matter when and where you buy the property, a ready-to-move-in flat will always serve as an asset to you. Whether you decide to rent it out or move in yourself, you will have a property that you can call your own! As we all know, possession-based disputes have become increasingly common these days. Your built-in flat will make sure you do not face any such issues now or in the future.
Freedom From Good and Services Tax (GST)
Would it not be a relief to be exempted from paying this tax? Ready to move in properties are not obligated to follow the framework set for paying GST. This is a construction that has not been personally done for you, and hence you are under no obligation to pay this extra fee. These types of apartments also give you instant tax benefits. For instance, if you have paid for the property through a home loan, you can claim its benefits the same year you get the possession.
You Get What You See
This is a rare advantage for most of the properties. However, for a ready-to-move-in property, you can personally go for inspection and make sure that you know what is in store for you. There will be no surprises (or shocks!) once you decide to buy the property and you can also get the feel of what the next few years are going to look like. Any discrepancies that exist will come out during the site visit. You can ask around the neighbors for facilities that are not immediately noticeable like the quality of the water or access to provided amenities.
Now that you do know the advantages of buying a ready-to-move-in property, we are sure you are one step closer to making your decision and finding your dream home to live in. Be sure that you do your due diligence and make an informed and wise decision.
If you are looking for a place to call home, you already know what you'd like to opt for! For further guidance, you can also take a look at some trending and popular ready-to-move-in projects. Glancing through these will give you a clear vision of what your future home might look like! Moreover, it will also cater to your requirement of staying updated with the trends and the latest properties.
We want to be here for you at every step of the way. In case you do need any assistance in making this informed but a crucial decision, do not hesitate to contact us.