Benefits of Buying a Property During its ‘New Launch’ Phase.
Post by : favouritehomes
For those in the market for buying a new home, you would have definitely come across terms like ‘new launch offers’ and ‘pre-launch offer’. These terms refer to housing projects where construction hasn’t started yet. These offers are basically made so the builder has access to more funds for starting work on the new project.
Its basically a win-all situation where both the homebuyer and the builder get to benefit from the deal. Here’s a look at some of the benefits of buying a property when its newly launched:
Early Bird Offers
Prices offered by builders during the new launch phase are significantly lower than during the construction stage or ready-to-move-in stage. This would translate to your paying lower down payments and requiring smaller home loans too. So, if you are ready to wait a little for your dream home, its better to get in first during the early launch phase of the project.
One of the best benefits of buying during the launching period is that you don’t have to start paying EMIs till it’s time to move in. This is a cause for relief as paying rent and EMIs every month can be stressful. Aside from this, you also get benefits of tax rebates on the home loan.
Escape Rate Hikes
By buying an apartment during the pre-launch stage, you escape from spiralling rates after the same property hits the market. As costs of raw materials are always on the rise, the early bird homebuyer doesn’t have to worry about price hike of homes during the course of construction.
Privileges and Customization
Buying a home in its inception stage means you get to choose the apartment with the best views, and on the floor of your choice. You can also request for customization as the project is still in its early stage and it’s easier to implement your requirements.
Profit All the Way
Investing in real estate is the best move forward, especially in cities like Trivandrum which are growing rapidly. By opting for a newly launched property when it’s at a very reasonable cost, you stand to make substantial profits by selling it off once it’s ready or even giving it out for rent.