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When we begin looking at the best properties to invest in real estate, then the very first thing that comes to our mind is whether to buy a property that is under construction or one that is ready to move in. Well, both these options have certain benefits and drawbacks, and it is not a smart move to pick one over the other in a hurry.

So, before making a decision to buy the best property to invest in real estate, you should evaluate all the factors and make a decision based on calculations and facts. In this blog, we will talk about the pros and cons of buying a ready-to-move flat or an under-construction property, but before that let’s have a look at some of the most important factors that you should consider before making a purchasing decision:

• Plan Your Budget: The first thing that needs to be considered is “Money”. So, you should plan your budget and assess your financial situation to determine whether you want to go for potentially lower prices of the under-construction properties or you can bear the upfront cost of a ready-to-move-in property.
• Consider the time: Time is another crucial factor to consider because if you’re not ready to wait for the completion of a project to shift in your home then a ready-to-move-in property might be an ideal choice for you. However, if you're willing for customization and can wait as well then you can go for an under-construction property.
• Check for the associated risks: In general, under-construction properties carry more risk regarding potential delays or unforeseen construction challenges. It may in fact experience some changes in the regulations which is not the case with ready-to-move houses.
• Evaluate the location and amenities: Before making a purchase decision, you should also research the location and amenities offered because you should go for the kind of property that aligns best with your long-term goals and lifestyle preferences.

The Pros and Cons of Purchasing Ready-to-Move Houses

If you’re planning to invest your money in ready-to-move apartments, then you will be delighted to know that considering putting your money on a completed residential property has many benefits associated with it. For instance,

• You will get what you see and there will be no bad surprises for you,
• You can also get a first-hand look at how a property has been constructed,
• You may not face any discrepancies in layouts, features, or amenities,
• Everything is available for inspection beforehand.

Adding to that, the ready-to-move-in homes also offer many financial advantages to the home-seekers. Let’s say, the home buyer will be well aware of all the costs before signing the deal and there will be no hidden costs. It means that if you go for ready-to-move apartments, you will have greater clarity on the total costs of living in a completed property, including the maintenance charges, the EMIs, and all other additional costs as these will be explained to you beforehand.

However, on the contrary, there are some cons of buying ready-to-move apartments:

• You can’t customize your house as per your requirements because ready-to-move-in homes don’t offer much scope for internal modifications to your space,
• The ready-to-move apartments also may cost more as compared to the under-construction homes.

The Pros and Cons of Purchasing an Under-Construction Property-

The properties under construction are a more affordable option because the best investment properties that are under construction come with flexible pricing options. Plus, the builders also offer many attractive offers for under-construction projects.

As a result, a property that is under construction is slightly more affordable than the ready-to-move properties despite having all the other factors the same, such as -

• Same location,
• Same apartment sizes,
• Same amenities.

Another upside of purchasing an under-construction property is that the properties developed after 2016 must be registered under RERA (Real Estate Regulatory Authority). Complying with RERA’s guidelines assures you of-

• Builders’ compliance with the fair trade practices,
• Reduction in project delays.

Adding to that, in the under-construction property, you may also get a wider choice of units and have the option to customize your home as per your requirements. Let’s say, that if you plan for any alterations in the layout or want to choose the flooring of your choice, you can easily do that in under-construction properties.

If you’re planning to purchase a yet-to-complete real estate property for investment purposes, then it could be a great choice because there is a longer window of time between buying a property and selling it which makes the properties under construction an excellent investment option.

However, if you’re thinking that buying an under-construction apartment is the best option out there then wait, there is a flip side of the coin as well.

• The first drawback of purchasing a property that is under construction is that the real estate builder might be a defaulter,
• Some builders either cause excessive delays in delivering the project or can’t deliver the house in many cases,
• If this is the case with you then it can result in heavy financial losses for you,
• Lastly, the new regulatory policies or some unforeseen circumstances can also affect the property prices and delivery of the project.

VIDEO PRESENTATION OF Ready-to-Move vs Under Construction Properties

Conclusion -

In conclusion, we would say that both the under-construction and ready-to-move apartments have their pros and cons, and what you choose from Under Construction vs. Ready to Move in Property entirely depends on your specific needs and preferences. So, it is important to weigh the advantages as well as the disadvantages carefully. However, if you do the proper research and consult with experts of Invest Mango, then you can choose the option that is best for you because it will help you to make an informed decision.