Benefits of Buying a ‘Ready to Occupy’ Villa
Post by : favouritehomes
It is a known fact that ready-to-move-in villas are more expensive than under-construction homes. This difference in cost influences many an unsuspecting home buyer into going for the cheaper option and then having to pay heavily for the mistake – especially if they happened to have bought into a property owned by unbranded builders who don’t have much to lose.
Getting down to the finances, it is the charming option of staggered payments and lower rates that get people falling for the under-construction category. However, do note that while you are paying EMIs for your under-construction villa as well as rent for your temporary lodging, you end up paying more, as the building takes time! Additionally, there is always the insecurity of delayed handing-over of keys that could result in over-stretching your pocket’s limits. Paying a little extra and buying a home outright seems a wiser decision in this scenario.
Due to the triple whammy that the real estate sector has been facing since last years like Demonetization, RERA, and GST, there has been a build-up of ready-to-move-in homes and builders are offering freebies to attract home buyers, making this the best time to go home-shopping!
Since many people buy homes keeping the potential for earning a secondary income in mind, it becomes wiser to buy a home outright and start earning an income on it at the earliest. Investing in an under-construction project in such a scenario would mean locking in your finances into a non-revenue generating project for some years.
Then there is the aspect of security; there are many unscrupulous so-called ‘realtors’ who collect the initial deposits for some freshly-launched projects and then disappear with your money. Why not play safe and invest in the completed projects by branded builders, where there is greater security.
Delayed delivery timelines have been the woes of many a home buyer with some deliveries being delayed by as long as seven years! Some projects have been known to get stalled even before the first brick was laid. All this results in delayed projects becoming a financial burden on the investor, who gets to pay EMIs as well as rent every month.
Buying into ‘under-construction’ homes also means that you can’t be sure of the support infrastructure in its surroundings. But with a read-to-move-in home, you know exactly what you’re getting, as you can actually get to check out the villa and its surroundings before making a decision.
Do ready-to-move-in villas seem more appealing to you now? Check out the list of options at https://www.favouritehomes.com/