There is no shortage in the residential market in India in the ready-to-move and under-construction flats in spite of fluctuating rates of the real estate property every year. In the last few years, the prices are below or stagnant due to which home buyers are still confused to buy new apartments. One of the reasons is due to delay in current project that creates a lack of confidence in buyers minds. This also affects the decision of investors who consider it as a loss.
This is the reason why home buyers are selecting ready to move property that is less risky. These residential flats carry a good resale value and offer less risk as compared to under-construction properties.
The space, view from the apartment, size of the rooms and quality of construction, available fixtures and amenities can be eliminated when buying a ready-to-move apartment. It is also essential to ponder the value of the project. A ready-to-move-in apartment enables one to closely evaluate the quality of finish and structure.
The key benefit of purchasing a ready to move flat is that buyers are aware and understand that what they are purchasing while scrutinizing the apartment. The decision of buying a ready-to-move flat is not only based on what is there in a sample flat or in mere layouts.
Only EMI and no down payment
The best thing about ready home, you have to pay only EMIs on home loan that would include no other costs. In the case of under-construction property, EMI starts after completion of the construction. But if there is any delay in the project, then EMI starts once the home loan gets disbursed. In these cases, the buyer can cancel the property due to financial strain and interest rates.
Save on Rentals
This is the main benefit for the homeowner to earn by investing ready-to-
move homes. If don’t move soon and would wait for more years, then you can earn by renting the home. The house rents are fixed as per the location and amenities. Many owners end up renting a home if invested in other cities. This helps to repay EMI for loans taken for the house.
No waiting period
The key advantage of ready to move flats is that there is no waiting period. As the project is already completed, you have to complete the procedures of
purchasing a house.
You get what you see
Since ready to move is in ready possession, there are no changes as seen in the booklet. The design of under construction project may change after completion. In case of ready to move flats, you get feedback from the residents.
If you’re planning for ready-to move property, analyse your financial condition, documents required and about the developers. If the developer is a reputed one, then banks will approach you to get a loan.
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