The real estate industry has been booming in recent years, with a plethora of options available for home buyers. However, one of the biggest decisions that home buyers face is whether to invest in a ready to move flat or an under construction property.
Both options have their pros and cons, and it’s essential to weigh them carefully before making a decision. In this article, we’ll take a closer look at the advantages and disadvantages of both options to help you decide which one is better for you. So, if you’re planning to buy a property anytime soon and wondering whether to go for a ready to move flat or an under construction property, read on!
Ready to Move Flats
Ready to move flats are those properties that are completed and ready for occupancy. These properties are often sought after by home buyers who are looking to move in immediately or within a short period of time. One of the biggest advantages of buying a ready to move flat is that you get immediate possession of the property. You don’t have to wait for the construction to be completed, and you can start living in your new home right away.
You Know What You Are Getting
Another advantage of buying a ready to move flat is that you can see exactly what you’re getting. When you visit the property, you can see the actual flat that you’ll be living in, and you can inspect the quality of construction, the fittings and fixtures, and the overall layout of the property. This can give you a better idea of what you’re investing in, and you can make an informed decision based on your needs and preferences.
High Resale Value
Ready to move flats also have a higher resale value compared to under construction properties. Since the property is already completed, there is no risk of delays in possession or construction quality issues. This can make it easier to sell the property in the future, and you may even be able to fetch a higher price for it.
However, one of the main disadvantages of buying a ready to move flat is that they are often more expensive than under construction properties. This is because you’re paying for the convenience of immediate possession, and you’re also paying for the finished product rather than the promise of a finished product.
Under Construction Properties
Under construction properties are those that are still being built and are not yet ready for possession. These properties are often sought after by home buyers who are looking for a more affordable option, as under construction properties are usually priced lower than ready to move flats.
Affordable
One of the biggest advantages of buying an under construction property is that it can be more affordable. Developers often offer discounts and attractive payment plans to home buyers who invest in under construction properties. This can make it easier for buyers to get a foot in the door of the real estate market and own a property.
Customisable
Another advantage of buying an under construction property is that you can customise it to your liking. Developers often offer buyers the option to choose the layout, fixtures, and fittings, and even the paint colors of the property. This can help you create a home that is tailored to your needs and preferences.
However, one of the main disadvantages of buying an under construction property is that there is no guarantee of when it will be completed. Delays in construction are common, and there is always a risk that the project may be delayed due to various reasons such as legal issues, labor strikes, or a shortage of raw materials. This can lead to frustration and anxiety for home buyers who are waiting for their property to be completed.
Another disadvantage of buying an under construction property is that the quality of construction may not be up to your expectations. Sometimes developers compromise on the quality of construction to save costs or meet deadlines, which can lead to issues in the future. It’s important to do your due diligence and research the developer’s track record before investing in an under construction property.
Conclusion
In conclusion, both ready to move flats and under construction properties have their own advantages and disadvantages, and the decision ultimately depends on your needs, preferences, and budget.