Buying a property is emotional as well as crucial decision for most of us. Many questions come into our mind when going to buy a property. This is not just a decision for a month or for few years, but a decision for almost a life time. So, only after considering different aspects one should take decisions. You may have question about which property to buy – should we buy under construction property or should it be a ready to move property.
Benefits of buying ready to move properties?
Ready-to-move property simply means a property that is available for immediate occupancy for the buyer. Here are a few benefits of any Ready-to-Move property; be it residential or commercial property.
You exactly get what you see
The biggest advantage of ready to move property is that you get exactly what you see. You can personally go and inspect your home before going to pay based on the complete design as well as amenities you desire. You get to experience the quality of the final product. There are no chances of discrepancies from what you felt and experienced in your site visit. For the things that are not immediately visible to us, like the quality of water in the building, it’s a good idea to talk to the people around or the neighbors.
You can move immediately
One of the prime benefits of buying a ready to move property is immediate availability. One can move immediately as there is no any waiting period. Once you make the payment to buy the property and sign the required documents you will get the advantage of getting the possession within minimum time period and it helps to save on your rent part. Therefore, you don’t need to wait for years and years to get the possession of your property.
You can know about the people living around you
One of the main advantages of ready to move properties is that you can familiarize yourself with the people living around you. You can already see your society and surrounding. You can know who your neighbors are, what community they belong to, so that you can decide if you would like to be with them or not. It is important to know in advance how active and mature your prospective neighborhood is. It is equally important to check out connectivity from your new home with local transport, parks, recreational facilities, schools, hospitals and other things.
You can buy within your budget
In ready-to-move property you can select a property according to your budget. In case of this property, you get possession immediately after paying the required price for the flat. There is no chance of increasing the price of the property, unlike properties under construction.
Free of GST
The ready to move properties are not under the boundaries of Goods and Services Tax (GST). For ready to move properties like Protech Tulip , the builder does not charge GST as it is immovable in nature, not goods. Also, its construction was not a service done for you. One has the advantage of claiming tax benefits with ready to move apartments.
If you have bought your property with home loan, you can claim tax benefits from the same year of buying the property or getting the possession.
Freedom to renovate
Ready to move flats are likely to provide the independence of renovating the property after purchase and immediate possession. Under construction properties wont give you that independence, as it is being built according to an approved architectural layout.
From the above points, we can say that if you have the necessary budget, it may be better to go for a Ready-to-move property as it will save you time, and give you the assurance of getting the flat immediately. You can mitigate the risks of builders not being able to complete under construction properties for any unforeseen event. However, we may note that under construction properties are almost always priced lower, and therefore may prove better in terms of investment.