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Buying a house and making all the important decisions associated with it will never be an easy task. After all, it is the place where you and your family will be spending a major chunk of your lives – doing household chores (or even remote working these days), resting, relaxing, and creating endless memories. This emotional aspect aside, the amount of money you have to invest in purchasing a home is also huge. However, once you’ve prepared yourself for this investment, a common dilemma that you may face is choosing between under-construction flats or ready-to-move-in apartments in Mumbai, or other locations.
Both under-construction and ready-to-move-in homes come with their own sets of advantages. But if your preference is tilting more towards the latter option, we at L&T Realty – one of the trusted realtors in India – have curated a list of the various benefits it can offer you. Read on:
You can physically check the completed property
The best thing about a ready-to-move-in apartment is that you won’t have to go through the anxiety of wondering whether you’ll be getting everything as per the builder’s initial promises or not. You can check out your finished flat and all its features for yourself, which ensures maximum satisfaction.
You can secure a home loan more easily
Most of the individuals who purchase a home have to avail themselves of a housing loan. However, having your application approved and securing the required loan may prove to be trickier if you are going to invest in an under-construction property. On the other hand, loan approvals are comparatively easier for ready-to-move-in houses as they present lower risk. Besides, you could also get a lower interest rate on a home loan for such apartments!
You can make more savings and earn rent
The major perks of buying a ready-to-move-in flat is that you can either save money or earn rent as an additional income. If you are currently living in a rented apartment where you have to pay an enormous rent, you may derive instant financial relief after purchasing and moving into a fully-constructed home. But if you don’t intend to move into the flat yourself, you can rent it out to someone else and use the funds as an additional income or to pay off your home loan EMIs.
You can immediately move into the apartment
As the name suggests, you can move into this type of apartment almost immediately, minus any waiting period. Once you’ve cleared your payments and completed the necessary formalities, you can get instant possession of your new home. All of this happens within a minimum time frame; so you won’t have to wait for years before you can claim the property’s possession!
You can check out the neighbourhood in advance
Having like-minded neighbours is extremely important in the long run. A considerable advantage that ready-to-move-in apartments provide is that you can familiarise yourself with the neighbourhood beforehand!
You’ll be able to verify the promised amenities
When you invest in a completed project, it is most likely that all the amenities proposed to come up at the property – be it a gymnasium, swimming pool, club house, garden and play areas, etc. – are all ready too. You can therefore check out these offerings in person when you buy a ready-to-move-in flat.
You can enjoy locational advantages
If you invest in a ready-to-move apartment from a top real estate developer like L&T Realty, you can be confident that the property’s location will offer you plenty of advantages. These include ease of connectivity and accessibility to essential social infrastructural facilities like educational institutions, healthcare establishments, recreational avenues, and more. The same applies to under-construction homes as well.
You can experience robust security
With a completed project, you can have a look at all the security measures that have been adopted in the building and its premises firsthand. Be it CCTV coverage or security guards, such projects usually have a robust security system in place.
Thus, these are the prime advantages of purchasing a ready-to-move-in home. L&T Realty has an array of exceptional residential projects, some of which are completed (phase-wise) while the others are still ongoing. So if you are buying flats in Ghatkopar or elsewhere in Mumbai or even other cities, do your research before finalising whether to go for under-construction apartments or pre-built ones!