Purchasing a home is always a dream for many of us. So plan it wisely.
Here are 5 reasons to buy an under-construction property:
Price is reasonable
The difference in pricing between a possession-ready property and under-construction property can vary from anywhere between 10 and 30%. Provided that the location, property area, property type, and builder are the same. Though you would have to wait to move into or rent out your new property, the price difference will surely be worth the wait.
The appreciation Rate is high
As the construction of a property progresses, its price increases too. Moreover, during this period, the development of the surrounding infrastructure also adds to the value of a property. This is why buying a property in its as nascent stage as possible is a wise decision. Though the price of a real property increases too, the rate of increase may be slower and the returns lesser.
Payment’s method
In the case of a ready property, the buyer has to pay the entire amount at once or within a short interval. But in the case of an under-construction property, there’s much more payment flexibility. Buyers can book a property by paying the token amount and pay the rest comfortably over a long period of time (until the construction completes).
New Construction
When the construction of an under-construction property completes, you move into a brand-new home with no maintenance problems and long life. Moreover, you get to enjoy the latest amenities and facilities available in the market. In case of ready properties, the home buying experience may be tarnished if the construction is old.
Offers
Being ready-to-move-in is the key differentiator for ready properties. Reason why, you would hardly find any offers on them. On the other hand, you can easily find a variety of schemes and plans on under-construction properties.
