Here are several reasons to think about purchasing a property that is ready to move into, including lower tax obligations and speedy possession.
It is common knowledge that projects with immediate possession cost more than those still in the planning stage. However, rather than waiting for the development to be finished, buyers are now keen to acquire residences right away. Here are a few justifications.
Cost Disparities:
The real estate industry has recently experienced a difficult phase that has led to a decline in new launches, price reductions, and a rise in unsold inventory. These factors compelled builders to entice buyers with alluring offers of discounts, freebies, and deals. These dynamics are still in effect even though the market is slowly rebounding and prices are rising. Therefore, it makes more sense for purchasers to take advantage of these deals and purchase a property that is ready for occupancy as opposed to waiting for under-construction developments to be finished.
EMI vs. Rent:
The majority of the projects will be financed by bank loans, which will place a heavy financial strain on the buyers. The rent on the buyers’ current dwellings must also be paid while they wait for the project to be finished, in addition to the EMIs. It is less expensive to spend a little extra now to buy a house right away than to pay both rent and EMI at once.
Rental Income:
Buying a home is a common financial strategy for people who want to generate a rental income. Another financial benefit is the potential price growth when reselling. Buying a property in a finished development enables purchasers to generate rental income right now.
– The creator is the town head (Mumbai) at Anarock Group
– The perspectives of the writer in this text are non-public and do now no longer represent an expert recommendation of Times Property
