Stride Post Latest News
Related Articles
Investing in a ready-to-occupy flat is an excellent way of growing wealth and building equity over time. It also reduces the amount of money you spend on moving. When looking at all the pros and cons before investing, it’s essential to understand why it makes sense for you to buy a ready-to-occupy flat rather than renting one or renting a private apartment. Investing the time to learn about the different aspects of buying such a property can ensure you get the most value for your money. Let’s look at some of the top reasons to buy a ready to occupy flats in Trivandrum.
1) Pay for what you see:
Purchasers receive what they see in a ready-to-move-in home because they know its quality and facts. Before buying a home, inspect it. When they buy a ready-to-occupy property, they buy a fully furnished property with all the necessary utilities. Buyers may check the room size, view, connectivity, facilities, and neighbourhood. You can ask current residents about the community, apartment maintenance, and nearby amenities. This helps them make informed home-buying decisions.
2) Buy within your budget:
When you see a ready-to-move sign, you pay for what you see. There are no hidden costs or fees. Infrastructure assessment, costs, and other considerations will determine the post-construction money. Spending on entirely constructed residences is a justifiable alternative for both buyers and sellers. There are no variables in the equation. That means you can buy within your budget without worrying about overpaying. This is one of the top reasons to buy a ready to occupy flats.
3) Tax benefits:
Taxes matter when buying a home. The Real Estate Budget 2019 aims to fulfil everyone’s housing desires. Buying a ready-to-move property may save GST. Use government subsidies to acquire a ready-to-move apartment and live stress-free. As a buyer, you must pay the quoted price. You’ll be safer looking for loans with bigger repayment allowances and rates. In the year you acquire possession, you can deduct its repayment if you have a home loan. Under Section 80 C, you can deduct up to Rs. 1.5 lakhs for principal repayment and Rs. 2 lakhs for interest. After construction is completed and you own the property, you can claim these tax benefits. Ready-to-move-in flats aren’t taxed.
4) Rental Savings:
When you buy a ready-to-occupy property, it will not require any rent payment. It protects you from the double strain of paying rent and EMIs if you are getting the house financed and are not moving into your new home immediately. As rent is usually fixed based on amenities and project age, many homeowners prefer renting their properties, especially if they have investments in other locations. This helps you repay the mortgage.
5) Easy Loan Approval:
Most apartment buyers seek loans. Getting financing is difficult if you need to build or buy a new home. Fully constructed flats have a low risk. Hence, loan acceptance rates are high. You might also get a reduced interest rate. Pre-EMIs are due even before you have possession of the house. The costs are not clearly outlined. However, in the case of ready-to-move-in homes, you must pay for the place you now occupy.
6) Reselling is easy:
When deciding on a project to invest in, consider the stage of development. If a project is still in the development stage and is not completed, the developer will usually allow the transfer of an apartment after it is completed, but not before. Even if he does, the process will be complicated, significantly if the project is delayed or litigation is involved.
If a project has already been completed, it is easier to sell.
Winding Up:
Ready-to-move-in flats are becoming increasingly popular among potential buyers and homeowners. Buying such a home can help you save money, protect against inflation, and improve your financial position. The ready-to-move-in apartment may be the most affordable way to buy a new home in the current market. Financing options are available at attractive rates. It is easy to qualify for a loan.
Before investing, you must know everything about the market, the project, and the home. This list demonstrates the top reasons to buy a ready to occupy flats and how they are specifically designed for today’s youth. In addition to all these factors, there are other important things to consider when buying a ready-to-move-in property. This includes checking for security, building materials, and maintenance. Do you have a favourite characteristic of ready-to-occupy apartments?
