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Property simplified




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Ready-to-move-in-homes inHigh DemandAgain!

November30,2016Real Estatemove in ready homes, readybuilthomes for sale, ready to move home, ready to move homesforsale SrishtiChandola

Gone are the days when under-construction projects, especially in the metro cities, used to be the prime choice of the home buyers. Intoday’s time, close to possession or ready for possession homes seem to be in high demand with of course somereason.

There were a variety of reasons for the buyers that they were going to under-construction homes which were scheduled to be delivered 2-3 years down theline.

Foremost reason being that the under-construction flats used to be 20-30% cheaper than the ready to move in homes. Secondly, they had some potential for the capital appreciation in the coming time. In today’s time the inability of the builders to provide possession of homes on time along with uncertainties looming over numerous current projects, the dice is definitely loaded in favor of the ready for possessionhomes.

Delay in projects has become a norm of the industry nowadays while in the case of ready to move in homes, there is quick and hassle free possession which is guaranteed. Homes which have reduced the chances of fraudulent practices, as well as these, are available at some competitiverates.

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The developers are presently offering some attractive deals, discounts, and numerous freebies to the buyers on buying of such homes. This clearly explains that why these are more in demand than others these days. The industry observers also believe that while there is the possibility of a last minute change in the projects that are under construction, ready to move in flats does not have thisdrawback.

The prime reason for the flow in demand for ready for possession homes is that the uncertainty factor is definitely ruled out in their case. This means that there is no uncertainty as much in terms of waiting time for the completion of projects, delay in projects, unforeseen problems and price escalation among many others as seen in the present times. Everything is pretty clear in front of the buyers that the exact rate that is to be paid, location, existing amenities, available services and existing infrastructure, etc. the buyers also go for the projects only after being satisfied completely. The another major reason is that a huge pile of inventory has kept the rates of all the types of properties in check. The absorption of having been slow until this particular point as well as serious price rationalizing in the markets even for the ready for possession projects orthose which are almost complete. The buyers have the distinct advantage of buying such projects without having to break any bank. Definitely, it is a unique point in time, especially in the Indian housingmarket.

The rental cost is another factor that is forcing the buyers to go for ready to move in homes. It certainly is a fact that most of the people buy homes by opting for bank loans and this becomes pretty costly for them to keep paying their EMIs and rentals till the developer complete the project and the possession is given to thebuyers.

The burden increases if projects get further deferred. Thus, one is able to move near the future of away which implies that the corresponding savings on the rentals cost and much lesser risk

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factor. This certainly saves the buyer from the uncertainty of the delays as well as the dual burdens of paying rent and the EMIs at the sametime.

Apart from making sure that the corresponding saving on the rental costs, ready to move in homes have the ability to give good returns on the rental. A lot of investors are buying homes with the aim of earning the rental incomes or selling them for profits. For purchasing a property in ready to move in projects helps them to begin earning instantly out of the through rentals rather than staying a few years and keeping their money away in the non-income making projects.

In the present scenario, ready for possession homes seem to be the best for the end-users who can be benefited from the possibility of quick possession at some competitive rates. They certainly hold a good value for the investors as the realty scenario is bound to change it drastically with the coming of RERA. However, on the other side, apart from being the tad costly compared to the under-construction, ready to move in homes which offer limited scope for the appreciation of capital and may be less profitable for the investors as the incubation period which is veryless.

As far as the under construction projects are concerned, it is pretty true that it will come cheaper but the risk content is higher and the first time home buyers have to contend with the rental rates untildelivery.

Thus, if one is considering the investment into any under-construction projects, it may a lot of sense to wait until the RERA is implemented on the ground. This ensures that the risk of delay in the delivery of projects which is reduceddrastically.

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