Buying property is not just a task but the biggest financial decision. We are emotionally attached to home and buy it for long term. Care should be taken while choosing a home as you will not sell it off very soon unless you need a bigger home or better deal.
This article is dealing with the benefits of choosing a ready to move in home over under construction property. Report says, there are approx. 10 lacs unsold homes at the end of financial year 2018-19 in tier 1 cities like Mumbai, Pune, Hyderabad, Delhi, Pune, Kolkata, Ahmedabad, Chennai and Bangalore.
When you prefer a ready-to-move-in house, you avoid the chance of project delay. You don’t need to wait for the completion of the project.
You get what you see
When you opt to go for Ready-to-move-in home, you are aware about quality of construction, super and carpet area, colour of the wall, amenities and fixtures. You can hire professional inspector to get quality details if you go for ready-to-move in home.
When you buy ready-to-move-in property, you can immediately shift to your new home. This way you get the possession as soon as you make payment and registry is done. In case of under-construction home you have to wait for 3-5 years for the flat to be ready.
When you purchase a ready-to-move-in home, you can shift to your home as soon as you want. So the moment you get the possession you can instantaneously vacate the rental house and save your rent.
The Goods and Service Tax that imposed on under-construction property is now waived off on ready-to-move-in home. From April 1st 2019, five percent GST is waived off in case of a ready-to-move property. This way, you will be saving 5 lacs on property worth 1crore.
Buy within budget
Ready-to-move in homes are just like any other products that give you flexibility to choose as per your budget. You can switch to other home or location if something does not fit to your budget.
If you are buying home for investment purpose then ready-to-move in home will best suited as you can immediately start earing rental income.
This is an added advantage if you buy ready to move home. Here you have a chance to see who your neighbour is.
Easy to sell
It’s very hard to sell an under-construction home. In case of ready-to-move in home, you are free to sell it if you get any big offer.
There is no risk in a ready-to-move-in property as you get immediate possession. In case of under-construction home possession delays are very common and you hardly do anything when your money is blocked.