What Are Benefits of Buying a Flat or Apartment in Ready-to-Move Property or Projects?
Many of us try to save money when we decide to buy a property. In many cases, we may choose an under construction, property rather than a ready-to-move project. There are many reasons behind this some of them are property location, payment schedule, slightly lower price than ready to move projects. But this could be tented our self towards a financial risk.
Then, Why should invest in Ready To Move Property? Or What are the benefits of Ready to Move Projects?
Let’s come take a look,
Data from all over the country have said delays in projects between 1 year, going up to 2 years. A look at the real estate in the redevelopment sector too will show that unprofessional builders, who have taken on projects without adequate financial resources, have also been responsible for project delays. Largely, this is the cause of delay in projects.
- No waiting period for to move in your dream home/flats.
- One can start receiving income through giving flat on rent.
- Saves your rent.
- Investment purpose.
- Better reliability.
- Established connectivity option.
However, sometimes the delay may not be caused due to the lack of financial resources but by litigation related with the property though in the case of an under-construction property, the disbursements are generally linked to the stage of completion of the construction. Also, the EMI payments generally start after completion of the construction.
However, in case of delay for any reason, your EMIs will start once the entire home loan has been disbursed. In case you are staying in a rented house, your expenses on rentals continue while you have to pay your EMI. In some situations, the home buyer has to cancel the property booking of the under-construction house due to a severe financial strain of a monthly rent and the EMI simultaneously.