Advantages and Disadvantages of Under-Construction & Ready-To-Move-In Residential Projects
- September 26, 2020
- Construction, Investment
- Comments Off on Advantages and Disadvantages of Under-Construction & Ready-To-Move-In Residential Projects
Let’s try to answer this oh-so confusing question in a point by point systematic way.
To begin with, let’s talk about Under Construction houses
For under-construction residential projects, one of the biggest advantages is that it costs less to buy than a ready-to-move-in house. Under-construction projects also yield higher returns as there is a window period between the buying stage and the delivery time of the project.
If you sell the project, later on, you will earn a higher amount and therefore it can be seen as a good investment. However, there are some drawbacks involved in buying an under-construction property. One is that there is a higher risk involved in case the builder is unable to deliver on time, or in some cases, at all. In such a situation, you would not be able to yield a good return on your investment. A way to reduce this risk is to make sure that you have checked the background and reputation of the builder before investing in the under-construction property. Another disadvantage is that the final product is different than promised previously. There could be a reduction in the area, change in the layout, or lack of amenities. Therefore, there are definitely risks involved when buying an under-construction property and it is important to consider these before making a decision. There are several upcoming residential properties in Hyderabad that are made by reliable builders that will give you some of the best residential properties. Aurobindo realty has several 3bhk and 4bhk flats available for sale in Hyderabad.
Now, let’s look at Ready to move projects
Ready-to-move-in residential or commercial properties also have both positives and negatives. The main benefits of buying a ready-to-move-in property are that it is available to you immediately and that there is no risk involved in terms of not getting what you are promised. There is no waiting period when you buy a ready-to-move-in property after you have made the payment and filled out necessary documentation. This saves you the trouble of paying rent and EMIs if you are getting the payment financed.
You also get what you are paying for and nothing is compromised. You can inspect the property before you purchase it to make sure that all your needs are met and that there is nothing you are losing out on. Ready-to-move-in residential or commercial properties also have disadvantages. They cost anywhere between twenty and thirty percent more than an under-construction property and might be older than an under-construction property since the home might have been up for sale for a long time before it was bought. If it is well maintained, this will not be a problem. It is important to check what you are buying before you pay for it so as to ensure that you are not getting anything less than you want or need. Another disadvantage is that you will be unaware of the quality of construction in a ready-to-move-in property. If you buy an under-construction property, you will have the option of monitoring the progress of the work and be aware of everything that is going on during the construction process. Therefore, you have knowledge of the types of materials used and the strength of the foundation of the project.
The final decision of whether or not you would rather buy an under-construction property or a ready-to-move-in property depends on your personal needs and preferences. If you are ready to take a risk and have a new property that you are included in the construction process for, then you could consider buying an under-construction property without too much worry about the risk. If you do not like to take risks and do not mind paying a higher price, you might want to consider buying a ready-to-move-in property instead.
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