10 Reasons To Buy An Under Construction Property
Hi guys, ever since we start earning, we dream about stepping into a home of our own. However, we face a dilemma, whether to go for an under construction property or a home that is ready for possession.
Yes, moving into a well-furnished house seems like a safer option, but there is absolutely no reason why you shouldn’t consider an under construction property too. If you want to be absolutely certain, we have enlisted below ten reasons on why you should buy an under construction property:
- Easier On Your Wallet
An under construction flat is always cheaper than a fully furnished flat. Generally, an undergoing construction flat is around 20 to 40 percent cheaper than the ready to use apartment.
- Lower EMIs
Since the cost of your under construction flat is cheaper, it will subsequently cost you lower EMIs for the loan. Thus it will be less of a burden on your pocket.
- Plan It Right
When you book an under construction property, it takes a period of time for you to get the possession of the apartment. This provides you a considerable time frame to plan your finances and loan repayment structure properly.
- Less Paperwork
While buying or selling a property, the documentation process involved can be draining. As you buy a new property, the documentation is taken care of by the developer or the construction company. As a result, you are saved from paying repeated visits to administrative offices to complete the paper work.
- Be Your Own Designer
After you buy an under construction property, you get the freedom to design the interior of that house as per your choice and imagination. Such a liberty is not possible when you shift into a ready to move apartment.
- Peaceful, Quiet & Healthy
Surrounding, neighborhood and environment are important factors when it comes to buying a real estate property. While you cannot alter these factors while buying a re-sale apartment, you can choose to buy a house of your dreams at desired location with a favorable neighborhood and conducive climatic environment.
- Low Cost Of Re-furbishing
If you purchase a ready flat that has not been in use for a while, a lot of time, money and effort will be invested to restore it to its earlier state. Such hassles are avoided when you buy a flat which is under construction.
- It’s All Under Warranty
When you buy a newly constructed apartment, most of the amenities are under warranty. As a result, in case of any functional issue, you can get them replaced, free of cost. If such a scenario occurs in a ready- to-move flat, in most situations you have to bear the cost of repairs.
- Freedom Of Choice
An under construction property gives you the freedom to choose the type of the flat, the view and the floor as per your needs.
- Higher Returns
Real estate is a long term investment, when invested rightly, reaps you great financial rewards. If you are planning to invest in real estate, then an under construction property is just for you. Since buying an under construction property is cheaper, the difference you earn after selling it will be higher, thus making you richer.
Friends, the above mentioned benefits are subjective. Hope it has helped you realize that an under construction apartment is not only a good choice but also a smart financial investment.