Under Construction Flat Vs. Ready to Move Property: Which Is Better? | Investment in Real Estate

Investment in Real Estate Whether to invest in an under-construction flat or a ready-to-move property can depend on various factors such as personal preference, financial situation and your goals for the investment. Here are some pros and cons of investing in under-construction flats versus ready-to-move properties:

Under Construction: Pros:

? Potentially lower purchase price: Under-construction properties are often available at a lower price than similar properties that are already completed, which can make it a more affordable option for some buyers.

? Availability of home loan: Many Banks and NBFCs offer home loans for under-construction properties, which can make it easier to finance the purchase.

Cons:

? Delayed Possession: Under-construction properties often take several years to be completed, and possession can be delayed.

? Risk of cost escalation and construction delays: The costs of construction can increase, leading to a higher cost than what was initially agreed upon.

? Lack of certainty: Buying an under-construction property can be risky because there are many unknowns. It's hard to estimate the final cost and the actual possession date.

Ready-to-Move-In Properties: Pros:

? Immediate Possession: With a ready-to-move-in property, you can take possession of the property immediately after the purchase, and start using it or renting it out.

? No construction-related risks: No risk of cost escalation, delayed possession and construction delays.

? Certainty: The property is already built, so the buyer can see and inspect the property before buying, which provides more certainty.

Cons:

? Higher cost: Ready-to-move-in properties are usually more expensive than under-construction properties, so they may not be as affordable.

? Limited opportunities for price negotiation: As the property is already built, the buyer does not have the opportunity to negotiate the price as much as in under-construction properties.

Ultimately, the choice between an under-construction flat and a ready-to-move-in property will depend on your personal preferences, financial situation and investment goals. It's always a good idea to consult with professionals and experts, such as a real estate agent or a financial advisor, before making any investment decisions.