Initially, buying a house might seem to be a straightforward task. But so is not the case. There are numerous decisions you have to smartly make, to ultimately identify the perfect home to invest in. One of the most crucial decisions in the property purchase process would be choosing between under-construction and ready-to-move-in houses. While both of these types of properties have their own pros and cons, by choosing the latter, you can at least side-step the risks of buying under-construction properties that are prone to delays and quality issues. Even though such properties are priced a bit higher, most people today opt to invest in ready to move in flats in Gurgaon, Noida and other major cities, than dealing with the stress associated with under-construction homes.
Here are a few points which further highlight the factors that make ready-to-move-in homes a better bet:
No delay in possession: Thousands of homebuyers investing in under-construction homes wait endlessly for their flats to be completed, as several builders end up defaulting on the promised delivery date. You can simply avoid such an anxiety-inducing ordeal just by going for a ready-to-move home instead.
No rent expenses: A lot of people buy a new home after getting a job in a new city. But their job won’t start as per the construction schedule of their home. For example, you have bought a new home in the prosperous city of Gurgaon after getting a job there. However, if the house is an under-construction one, you ideally have to live on rent in the city till the project is completed. However, by buying ready to move in flats in Gurgaon, you can simply move and settle down at your brand-new home at once and have no need to live on rent even for a few weeks.
GST relief: There is no GST put on ready-to-move-in homes. However, under-construction properties have GST at 5% of the overall property cost, and that too without the input tax credit benefit.
In addition to the points underlined above, another key advantage of ready-to-move-in homes is that you get to visit the property and explore it, before investing in it.
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