Make An Informed Decision: Under Construction Vs Ready to Move In Flat
Buying a property is a huge decision and we think you will agree that it is not an easy task. With endless options available in the market today. Buying a house needs a lot of considerations ranging from budget, capital returns, location, facilities, and quality of construction. Real estate brokers in Newtown are finding homeowners with a sudden dilemma. The question is whether to choose a ready to move the house or an under-construction one?
According to realty business enthusiasts. It is always advisable to choose under construction apartments if you want the property for investment purposes. However, if you are looking for accommodation, it is best to go for a ready-made alternative. Let us understand this concept in a more detailed way.
What Can You Expect From Under Construction Flats?
- The biggest positive for booking an under-construction flat is its low price. On comparing it with a ready to move in a flat you will find that the difference is 10-30 percent. So even if the two flats are in the same location, having the same area, under construction flat will fare less.
- It will fetch you more returns on your investment. The main reason is the rice of the incomplete apartment will keep increasing with every stage of completion. So it can be a gamble that you might have to pay less at the time of booking and the price of the investment will double when you actually get the keys. Moreover, you possess the luxury to earn appreciation on the investment.
- Along with the above-mentioned positives, under construction flats have some negatives a well. The most common one is there is no fixed time for delivery. The timeline of the project may extend due to insufficient funds, developers’ dispute, or regulatory issues. This can heavily weigh on your pocket, especially if you are liable to pay EMI every month.
- Most of the time under construction projects do not match the promised amenities and features as mentioned in the sales brochures. You may have to compromise a lot of facilities at the time of possession and can do nothing about it.
What Can You Expect From Ready To Move In Flats?
- The biggest advantage is you do not have to go through any waiting time to get possession of the flat. You have to only complete the documentation, pay the required installment, and get the keys to your new house with less hassle.
- There is absolutely zero discrepancies with the amenities, features, and facilities when choosing a ready to move in flat. You get what you have seen before and there are hardly any new adjustments to be made.
- The drawback of ready to move in the flat is you do not get the chance to gauge the quality of construction. Furthermore, you have to shell out more money if you want a fully furnished complete apartment to stay.
Contact Property360, the best real estate developer and brokers in Newtown for in-depth guidance on taking major decisions related to real estate buying and selling.