Buyers are facing a dilemma of whether to buy a ready-to-move house or invest in an under-construction project.
To solve the troubles of buyers/investors we have come up with a few amazing perks of buying an under-construction house:
1. At Lower Prices: If we consider the factors such as the area of the property, location, builder, and so on while buying a property then the cost of an under-construction project would be easy on your pocket around 10-30% as compared to a ready-to-move house. In real estate, such a difference carries huge weight and is considered a win-win scenario for the buyer.
2. Payments in EMI’s: While shifting to a ready-made house, we have to pay the entire amount of the final deal at once to the builder. But in the case of an under-construction house, there are options for easy monthly payments or EMIs. Buyers can pay some amount in EMI till the project completes. During the time of possession, they can pay the entire remaining amount which makes less burden on their pockets.
3. Better Return On Investment: The choice to purchase a home that is being built will undoubtedly pay off both long and short-term. In the long run, as the surrounding develops, your property's value will grow on the market. Selling the property's possession to a different party before the complete delivery of the property can be advantageous in the short term as well. You're also well-paid in this circumstance.
4. RERA Compliance: RERA acts as a shield for home buyers by protecting them from construction delays and property fraud. With the implementation of this safety net act for buyers, the chances of malpractices by builders have been reduced too much. Always consider the under-construction property projects which fall under RERA guidelines or RERA approved.
5. Exciting offers: Builders are attracting buyers with great deals. Free parking spaces, gardens, the installation of air conditioners, modular kitchens, gold coins or jewellery, etc. can all be included in the offers.
It is a fact that purchasing a home while it is under construction can be advantageous.