The real estate market is one of the most rapidly expanding sectors in India. Meanwhile, owning a home is a dream for many people, and sometimes we rush to finalize a deal, which can lead to poor choices. Purchasing a home involves a lot of research. In this article, we will discuss the pros and cons of buying under construction flats. Continue reading to make a smart choice and feel free to reach out to Naiknavare Developers for reasonably priced homes.
Benefits of buying an under-construction flat
1. Affordable Prices for Under Construction Flats
Many developers sell flats at a lower price while they are still being built. They often provide additional discounts too. As the construction finishes, the demand for the property and its market value usually go up. This makes it a good deal for you. You can personalize your apartment and buy it for less money. If you’re thinking about buying a property in Pune, consider contacting Naiknavare Developers for projects currently in progress.
2. Greater Potential for Value Increase
As the property gets closer to being finished, its worth usually goes up, which could lead to better profits from the investment.
3. Choice for Buyers
When buyers purchase a flat that’s under-construction, they get a chance to choose a unit from the inventories list.
4. Improved design and construction of flats
We all understand that over time, real estate properties age and their structures become less sturdy, even if they were built with high-quality materials. When you invest in a flat that is under construction, you have plenty of time to enjoy it without worrying about upkeep.
5. Flexible Payment Plans
While your new home is being built, you can choose from different ways to pay. You can start by paying a small amount and then pay the rest gradually until you move in. This option isn’t available for homes that are already finished; for those, you need to pay the full price upfront. But, you can get a mortgage and pay it back in monthly instalments.
6. Advanced technology and superior design
Builders usually do their best to include the newest technology and design in their latest projects. These homes are made to be energy-efficient, good for the environment, and have smart, luxurious features. But, older projects don’t have these benefits. These modern technologies and amenities make it easier to rent or sell the property and give you a more comfortable life.
7. Personalization Choices
Buyers might get a chance to change the design and arrangement of an under-construction flat, making it more suited to their personal tastes.
Investing in Naiknavare’s under-construction projects such as Dwarka and Aranya presents a promising opportunity to secure a valuable asset in a reputable development. Dwarka is a self-sufficient integrated town ship that offers its residents a bulk of amenities and facilities creating a small city within its premises. On the other hand, Aranya by Naiknavare is a residential and commercial project that offers 1 BHK, 2 BHK Standard and 2 BHK comfort units. Additionally, the project includes commercial spaces in all three buildings for shops and businesses. Strategically located, both Dwarka and Aranya make an ideal investment.
Cons of buying under-construction flats
1. Construction Delays
One of the biggest problems with purchasing flats that are still under construction is the chance of getting the property later than expected. Builders can run into different problems during construction, like not having enough money or waiting for government permissions, which can slow down the project. This can be annoying for buyers who might have planned to move in by a certain date or could be paying for rent or their current mortgage while they wait.
2. Uncertainty
Another downside of purchasing properties that are still being built is the risk of not knowing if the completed project will meet the expected standards. Although builders have a blueprint and concept ready, there’s no assurance that the end result will be what was originally agreed upon. Additionally, the design or arrangement of the property might alter during construction, and these changes can be hard to anticipate.
Conclusion
Buying a property under construction has its own pros and cons. An under construction flat comes at a lower cost and you also have the opportunity to customize it. However, there are also risks involved in the project such as possible delays and changes to the final plan, and it is important to consider all these factors, including location, builder brand etc. before making a decision.
Check out Naiknavare Developers for the best options in real estate investment. As one of the top real estate developers in India, Naiknavare Developers offers a wide range of investment options.