You fall in buying an under construction property category if you are:
An Investor: Property investors always look for opportunities to invest in the projects which are underrepresented and have a scope of appreciation. Developers usually launch their projects at a value lesser than the market value of that area to attract early birds and quick buyers. The rate of the property keeps on increasing as the project takes shape.
Second home planner: If you already have a home and are looking to earn profits out of property investment, then under construction properties are an ideal buy for you. You can expect a good return on investment if you opt for an under construction property over ready to move in or a resale property.
End user with the holding capacity of waiting period: If you have your company’s accommodation or your current house’s rent is been taken care off by your company, then under construction property is the best buy for you. If you can manage to take care of the rent of your existing house and plan appropriately to manage to fulfill the payment slabs of the under construction property then such properties are perfect for you.
In short, you either have to be an investor, an end user with the holding capacity of the waiting period or a second home planner to invest in such properties.
*Investing in under construction projects which have followed all the Real Estate guidelines given by the government is always advisable.
You fall in buying a ready to move in property category if you are:
First time home buyer: Sometimes the end users find it difficult to manage EMIs and rent at the same time. It becomes even more difficult if the possession of the project is delayed even by a couple of months. Buying a ready to move in property has its own perks like buyer can come to know about the quality of construction, infrastructure provision & look and feel of the property. This makes it easy for them to compare the properties that they have short listed to purchase.
Second home buyers: It is ideal to buy a ready to move in property even if you are a second home buyer. This promises a scope of retaining rent. In short it lessens your EMI burden and improves your financial status as well.
You fall in buying a resale property if you are:
Looking to re-locate in an established area: Resale property buyers need to understand the purpose of their investment before investing in the property. A buyer who looking for properties in proximity of his/her work place, schools or colleges for children or a retirement home with the entire required amenities make an ideal buyer for such properties. Their might or might not be scope of property appreciation in such cases but their definitely won’t be a delay in getting the possession of such properties. Both buyers and sellers have a good scope of negotiations in case of a resale property deal.
Being a responsible Property advisor, we at NewAge Realty do property counseling that helps you make up your mind for which category suits best for you.
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Under Construction vs Ready to Move In vs Resale properties, which is the best buy for you?
Confused between which is your best buy - an under construction, ready to move in or a resale property? Here’s a detailed analysis to clear your confusion. Every property investment comes with a purpose and a motive behind it. Once you have clarity on the motive of the property to be purchased, it all starts getting easier in decision making.
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