Top Benefits of Purchasing a Flat During Construction

When we begin exploring the property to buy, the first question that comes to our mind is under-construction property or ready-to-move property. What is better?

Though the pleasure of buying a ready-possession apartment and moving in within a week is exciting, the benefits of buying under-construction property must not be ignored. Buying an under-construction flat in Lucknow has its own perks.

Best Advantages of Buying a Flat Under-Construction

Here is why you must consider buying under-construction property.

1. Low Cost of buying

There is a big difference between the price of the under-construction property and the ready-possession property. The cost of an under-construction 2 BHK flat in Lucknow is 10% to 30% lesser than the latter. Though you need to wait for a few years to move into the new apartment, a significant price difference is worth the wait.

2. Higher Appreciation

When the construction of a property advances, its price rises too. Though the price of a ready property also rises with time, its rate of increase is slower. We must also consider the surrounding infrastructural development, which raises the value of your property further. This is the reason many property investors buy a property at the time of pre-launch.

3.  Flexible Payments

Most of the under-construction projects ask the buyers to pay as per the construction-linked program. Buyers can book a property by paying just the token amount, which is usually just 10% to 15% of the cost of the flat. The rest of the payment is made over a long period of time till the time construction completes. This allows a lot of time for the buyer to pay the amount. But in the case of a ready property, the buyer has to pay the whole amount upfront.

4.  New Construction

After the construction of the property, you move into a brand-new home. In a ready flat with old construction, the feeling of a brand new home may be compromised. This holds true in the case of a ready flat under re-sale 3 BHK Flat in Lucknow too.

5.  Offers

The under-construction properties often provide a variety of schemes, lucrative offers, and deals. But ready-to-move flats hardly have any offers. on them. On the other hand, you can easily plan.

6.  Delay

Homebuyers usually choose ready properties to avoid possession delays. But with RERA, homebuyers can now safely go for an under-construction property. If the developers do not deliver the flat on time, they need to pay compensation to the owners. This has boosted the timely delivery of the flats.

Buying an under-construction property is also better if you want to buy a flat for the purpose of investment, as you get it at a low cost with a higher ROI. Buying an under-construction apartment surely outweighs the benefits of a ready-to-move-in home!