Buying property is an important decision for all. It's an emotional decision that can be taken very cautiously. You will never switch your home in the next few years after buying, instead, you will never sell it off except you get a better deal or need a bigger home. whether to choose a ready-to-move-in house or an under-construction one. While there are advantages and disadvantages to both options, the choice will depend on various aspects like what the buyer is looking for, and his needs/requirements.

Points to consider, while choosing a ready-to-move-in property

Choosing a ready-to-move-in property helps the buyer to avoid costs associated with living in rental accommodation and the long wait in big cities, for an under-construction project to be completed. Once you've completed the formalities related to payment and paperwork, the unit is yours to move into and enjoy the lifestyle. It also gives the home buyer a sense of security. Moreover, the buyer can check the neighbors and the infrastructure in the vicinity of the house, before buying the property.

Advantages of Ready to Move in Property:

Immediate Authority on Your Property Purchase: You can start living in a ready-to-move-in house as soon as you buy it.

Low-Risk Involvement: The builders Already finished all work so no need to involve in making changes.

Instant Relief from Paying Rent: Buy Ready to move in property within the instant minimum time and it helps to save on your rent part.

You will get what you will visual: There is no risk of potential changes in the future In a ready-to-move-in house, a buyer gets what he visual sees.

Check The Infrastructure And Other Facilities: you need to also know about the neighborhood. In a ready possession property, you already may have residents living there from whom you easily get to know more about your builder and quality of work.

Nothing increased cost: there is nothing risk of delays and escalating prices when it comes to ready-to-move-in homes.

Buy within Your Budget: It’s finished all works in your budget

Disadvantages of buying a ready-to-move-in property:

Construction Quality: It is very easy for an under-construction property to analyze the work progress and thus be aware of the quality of construction in terms of the material used, the strength of the foundations, etc. But you cannot conduct any such inspection in a completed villa/house.

Age of The Property: Buying a ready-to-move-in property might not always ensure you a brand new home like an under-construction property. The house/villa which you have bought might be up for sale for a long time. Therefore, if it has not been maintained properly, it might look old.

High Property Cost: One of the major drawbacks of buying a ready-to-move-in property is the higher cost as compared to an under-construction property. The cost difference could be anywhere between 20- and 30%.

The under-construction projects are no less in terms of quality and cost if you do all your due diligence on the project such as price, location, developer, and other related aspects. The under-construction projects offer a higher return than a ready-to-move-in-property.

Points to consider, while choosing Under-construction properties:

“Under-construction properties are generally in the non-established parts of the city and hence, the potential for price appreciation due to future development is good. However, this is not true in every case. One has to look at the location and plans around that area. Buying Customized villas

Advantages of buying an under-construction property:

Cost-effective: An under-construction property is likely to cost less than ready-to-move-in properties. Buyers will get many options for under-construction properties. Another upside to purchasing a property that’s under construction is that it is mandated to be registered under the Real Estate (Regulation and Development) Act (RERA). This legislation gives you many advantages like builders’ compliance with fair trade practices, reduction in project delays, and speedy redressal of grievances.

Good Appreciation of Investment: Properties under construction also make for excellent investment options, primarily because there’s a longer window of time between paying for the property and selling it.

Payment Flexibility: In The under-construction project, a buyer also has flexibility in payments, You will also get a wider choice of units to select from, plan for any alterations in the layout as per your requirement, and choose the floorings, etc.

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Disadvantages of buying under-construction property:

Before buying an under-construction property, one must have to look at the location and coming plans around that area. Apart from that, in an under-construction project, a buyer also has flexibility in payments, with options like construction-linked plans, subvention schemes, flexible payment plans, etc.

Delay Possession: Many builders either cause excessive delays in the project or fail to deliver the house To avoid this costly mistake, it’s advisable to buy only from trusted builders with years of industry experience and a history of consumer satisfaction

The increase in property costs: If the project got delayed for even 2-3 years, the builder asks for the increased cost for the property which can result in heavy money losses for you.

Compromise with quality: When the builder shows you the sample house/villa, it is usually built with all possible facilities and with the best quality products. With time, you make an expectation of getting the same quality of work done within your home, but when you get the real home you find that it is much different from the promised one as the builders don’t use good material in construction. This type of situation arises very rarely and with unprofessional developers. After implementation of RERA, a builder cannot change the building approval plan once sanctioned and display the same on their website.

False projection & promises: The builders make a number of promises to the customers related to infrastructure and amenities within the society, but in most cases, you don’t receive what you have been promised. But after the implementation of RERA, the builder has to offer what he has promised during the agreement.

Choosing the best Builder to give you a project they will carefully maintain and finished your villa/house, They educate some knowledge about your property details, and registration, documentation process, construction material details, Builders can transparent is more important update every process on your project they finished the work on the exact time, exact budget Choose builders is an important thing of buying a house/villa

ILA Foundation becoming the most reputed developer commenced in the year 2010. With our unrivaled dedication and constantly evolving over the decades, We Ila foundation is today considered to be one renowned property developers in Tamil Nadu. Right from inception, we believe a home should be built in the way you fancy it. Therefore we bring you custom-made homes and villas that reflect your ideas.