Things to consider while choosing an under-construction or ready-to-move-in property
Needs to know which option is better, Under-construction or Ready-to-move-in property in Mohali, Chandigarh, Zirakpur, Panchkula? We, Per Square Yard, help you to get the answer.
The coronavirus pandemic has made people realize the importance of owning a home rather than living on rent. Owning a home in such uncertain times is associated with a sense of safety and security. However, when it comes to buying a home, should a property seeker choose a ready-to-move-in-house or under-construction? We, Per Square Yard, Chandigarh, Punjab, explain the key differences between the two to help you decide.
Buying a property is not an easy task, another decision that adds to the dilemma for home buyers is whether to choose a ready-made home or an under-construction home. At, Per Square Yard, Chandigarh, we help you to choose the best options. While both the options have advantages and disadvantages, the choice will depend on various aspects such as, what the buyer is looking for, his/her needs/requirements, whether one is buying for investment or end-use.
We, Per Square Yard, Chandigarh, Punjab, tell you how Ready-to-move-in houses are a better option nowadays. With the pandemic and work from home (WFH) becoming more prevalent, aspiring home buyers are largely favoring ready-to-move-in homes, as people find it safer in the present circumstances.
Choosing a ready-to-move-in flat helps the buyer avoid the costs associated with living in rental accommodation and the long wait for the completion of an under-construction project in major cities. It also gives a sense of security to the home buyer. Also, the buyer can check the neighbors and the infrastructure around the house before buying the property.
In a ready-to-move-in house, the buyer gets what they see. There is no risk of possible changes in the future. Also, when it comes to ready-to-move-in homes, there is no risk of delays and cost escalation.
Construction has been affected by the lockdown, construction restrictions, and labor shortage. This has prompted home buyers to opt for ready-to-move-in units fearing delays in under-construction projects. Also, the state real estate authorities have extended the deadline for the completion of under-construction projects.
Under-construction properties are generally in the un-established parts of the city and hence, the potential for price appreciation due to future developments is good. However, this is not true in every case. The location around that area and future plans have to be seen.