By Rohit Kothare on May 10, 2019 11:34:17 AM
In today's times, the consumers are very smart and they will only invest in projects that are productive and safe. And before they take any decision, they make sure to thoroughly check on the realty firms including the developer's past projects and always opt for ready to move in flats.
The major reason for this is due to the fact that ready-to-move projects have fewer risks involved. Also, ready-to-move homes carry a good resale value compared to under -construction properties.
Now, let us understand the benefits of a ready-to-move-in property ;
When you buy a ready-to-move-in home, one of the prime advantages will include eliminating any project delay. You won’t have to wait for any completion tasks of the apartment or any other amenities of the project.
All you have to do, will be, make a payment and just go through the documentation work. Once that’s done, you move in. It is as simple as that.
You get exactly what you see
Buying a completed apartment is rather beneficial because the buyer is completely aware of the details and knows exactly what they’re buying while inspecting the apartment as compared to making decisions based on sample flats, that might be misleading.
This also helps the buyer understand how well connected is the location and if it has the necessary infrastructure such as roads, transport facilities and educational institutes and other such important aspects near the project.
Ready-possession flats, especially in areas like Hinjewadi, can provide you with some tax benefits. These benefits will definitely help you reduce expenditure.
In property-buying decisions, taxes play a crucial role. Most home buyers avail of home loans to make a purchase and for a ready possession home, the tax benefits regarding a home loan payment are plenty.
Nowadays, almost the majority of real estate developers offer No GST charges to the customers since they pay the GST to the government on behalf of the customers.
An under-construction property is difficult to be sold especially if its delivery is locked in a legal battle or is delayed.
In most cases, real estate developers do not make the transfer of apartments until the whole project is complete and even if they do, there is always a chance that you will have to make additional hefty charges, which in return can dent your gain.
Only EMI with no Down Payment
The major benefit of a ready possession home would be that of paying only the EMIs of a home loan right away and no other payments would be included. Whereas for an under construction property, if there is any delay from the developer's end, then the EMI will begin only when the home loan gets disbursed.
If all of this gets too financially straining and includes an increase in interest rates for the buyer, chances are they may cancel the purchase of the property.
Save on Rentals
The primary benefit of a ready to move home includes saving on rentals. It saves you from the double burden of paying your rent and the EMIs, in case you are getting the home purchase financed and are not planning to move into your new home any time soon, then you can start earning, by renting the home.
As the rent structure for each location is usually fixed, depending on the amenities available and how new the project is, many homeowners prefer renting their homes especially if they have also invested in other cities. This in return helps you to repay the EMI for the loan taken on the house.
Buying a property will always remain a big decision in your life and will require lots of money. So, it is better to explore your options, do your research and then take the buying decision confidently!
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