Reasons to people buying a Ready-to-move-in Flats

Reasons to people buying a Ready-to-move-in Flats

Ready-to-move-in property is fast becoming the most popular choice in recent times. Buying property is an important decision for all. It’s an emotional decision which can be taken very carefully. You are not going to switch your home in the next few years after buying, rather you will except you get a better deal. The resale housing market, especially the new, ready-to-move-in section, gives home-buyers a chance to avoid the risks of buying under-construction properties that are likely to extreme delays.

Ready-to-move-in properties reduce the chances of getting cheated, apart from offering other benefits.

Ready-To-Move-In flats are more expensive than an under-construction flat in the same locality. You should have a strong financial position to buy a ready-to-move-in flat, as you would have to pay the full cost of the property before the builder handovers the keys. Your home loan will be sanctioned and EMI on the full loan amount will start instantly. On the other hand, an under-construction flat has an easier payment method.

If you are planning to buy a property, you have lots of options. But there is an advantage in choosing a ready-to-move-in property. Below we are listing a few of its advantages.

Immediate Authority on Your Flat Purchase:

In case of ready-to-move-in property, you can instantly move into your new house. You will immediately get the possession of your home, but an under-construction property you have to wait for 3-5 years for the flat to be delivered.

Low-Risk Involvement:

In a ready-to-move-in property, there are no risks of delay possession. While in the case of under-construction property, project delays are much more common. So, you need to be cautious while choosing a builder for an under-construction property.

Instant Relief from Paying Rent:

Once you move in into your new home, you will not have to pay any rent. All you have to pay is EMI for your home loan. While in an under-construction property, you will have to carry both EMI and Rent for a number of years.

You will get what you will see:

An under-construction property sometimes, there can be some differences in the final outcome and what you were promised. On the other hand, in the case of ready-to-move-in property, you will first see and inspect the house and then only you will decide to buy it or not.

No increased cost:

This is another advantage of buying a ready-to-move-in property as you are not supposed to pay the increased cost of the property after paying the booking amount. But in the case of under-construction properties, you have to pay the increased cost of the property.

Check The Facilities:

When you are buying a ready-to-move-in property, you can check the infrastructure and other facilities around the flat before buying the property.

Buy within Your Budget:

In a ready-to-move-in property, you can select a property within your budget. If you have a lower budget, you can buy a home that fits into your budget. Whereas, when you buy an under-construction property if the project got delayed for three or more years the builder asked for increasing the cost of construction and its also increases your overall budget.

No GST:

Taxes play a crucial role in buying a property. Currently, a buyer does not pay any GST while buying a ready-to-move-in property. An under-construction flat, on the other hand, attract 12% GST.

Rental income:

If the flat you have bought as an investment and not for personal use or if you are planning to move in later, you can rent it out and make some rental income. You can use the rental income to pay your EMI or keep it as a rental income.

If you are looking for affordable housing or even premium housing, you can find it on Nimmadhi.