During the Corona virus pandemic situation, a lot of people have realized that owning a home is important rather than living on rent. You have a sense of security when you own a home in such uncertain times. However, a common dilemma that everyone faces is choosing the right property for investment or for accommodation. And when it comes to buying a home, should property seekers choose a ready-to-move-in-home or an under-construction home? We explain the crucial differences between the two, to help you arrive at the right decision of choosing the right.
As there are 2 sides of the same coin, there are advantages and disadvantages to both options, the choice will depend on various aspects like, what the buyer is looking for, his needs/requirements, and whether one is buying for investment or end-use. The builders in Surat have said that buying an under-construction property makes sense if one is looking at it from an investment perspective, while a ready-to-move home makes more sense if the buyer is looking for accommodation in the city.
Properties under construction are generally located in the non-established parts of the city and therefore the potential for price increases due to future development is good. However, this is not always the case. If you look at the residential property in Pal Surat, they have great location, amenities and give you flexible pricing options like staggered payment plans and many attractive offers attached to the price tag, making them easier on the wallet than ready-to-move-in homes.
With all other factors like location, size, and amenities remaining the same, a property under construction is often slightly affordable than a completed home with the same features. The difference in pricing can range anywhere from 10% to 30% or more.
With lock downs, restrictions on construction, and a shortage of laborers during the pandemic situation, construction has been affected. This has led home buyers to choose ready-to-move-in units. And when you consider investing in a completed residential property, you get many reasons to rejoice. The biggest benefit is that you can have a first-hand look at your dream home. Therefore there are no surprises and you get what you see. There are various properties for sale in surat that are ready for possession, or sample flat is ready for visit and booking or is going to be soon for possession for the people who are waiting for their dream home. The benefit of this is that there’s no possibility of discrepancies in layouts, features, or amenities since everything is available for inspection beforehand.
We also advise you to keep in mind these points when investing in a ready-to-move-in or an under-construction house:
- Determine the total budget to buy the property and make sure your finances are well in advance.
- The property should have all the necessary approvals and licenses.
- All information about the other parties related to the project (such as banks, advisory centers, etc.) must be obtained to understand the feasibility and quality of the project.
- The desired location should be selected based on your typical transportation needs.
- Check online and on social media, for reviews on the project, developer, and locality.
Now we think it is easier for you to take the right and smart decision from the range of properties in Surat. Start your hunt now or later, just make sure you THINK SMART AND CHOOSE RIGHT.