Benefits of Buying an under Construction Property
Ready to move in or under construction — What should I invest in? This is one of the most common questions that cross every prospective home buyer’s mind. Thus, here we try to delve into each aspect of buying property in both the stages in question. Hear we discuss some advantages of under construction properties.
Merits of Under Construction Property
- Payment Options:
In under construction, usually a buyer gets several payment plans, which includes construction linked plan, down payment plan, 30:70 scheme, 20:80 scheme, 50:50 scheme 25:75 scheme and lots of other schemes. Sometimes buyers full pay.
- Cost Installments:
Under construction property, in most of the cases, are relatively affordable when compared to ready to move in property Gurgoan. Thus, a buyer pays the down payment, which is mostly 20 percent as the booking amount and the rest is paid in the form of the EMI in case of loan, else they can pay the money in installments as per the construction schedule. However, it means that you end up paying interest on the home loan plus rent for your current accommodation.
- Choice of locality and floor:
Like that view from the topmost floor? Make it yours! Ready to move in apartments, you don’t have many choices about locality or floor, where in under-construction property you get an array of options to choose from. You can choose according to your choose.
- Good for investment:
Since prices are lower, one can garner better returns. Moreover, with land getting exhausted in the city centers, most of the new projects are coming up on the peripheral areas. Thus, the scope of price appreciation due to future development is high in these new launched projects. However, to avail this benefit of price appreciation, one must do a basic study about the proposed and ongoing development plans in the region before buying a property.
Few developers allow customizations (to some extent) as per individual’s requirements in the construction stage. However, this depends from developer to developer and project to project and sometimes its depends from developer to project .