Are you thinking of buying a property? Are you trying to evaluate whether buying a ready-to-move-in apartment or an under-construction one would be better? Given below is a list of some common advantages and disadvantages of buying a ready-to-move-in property. Take a look at these pointers to assess which option will suit you the best.

Advantages

Immediate ownership

In ready-to-move-in apartments, owners do not have to wait for their possessions and can start living in them right after payment. It is better because it saves you from all the money that you otherwise would have spent on living in a rented house. The money that you would have spent on rent, in this case, would be used towards the EMI of your new house. 

No payment of service tax 

If you choose a ready-to-move-in property, you will not be required to pay any service tax. Meanwhile, in properties under construction, buyers have to pay service tax.

Clarity on legal issues 

Legal disputes are less likely in ready-to-move-in projects. Most of them have all the papers and documents in place, leaving no scope for legal disputes.

Disadvantages

Huge Outright payment

Some realtors ask for outright payment of the property right at the beginning. You need to have enough funds to pay for all the expenses at the time of buying. These expenses include down payment, stamp duty, registration charges, maintenance charges, etc.

Tedious paperwork

Buying a ready-to-move-in home involves the tedious task of collecting and arranging documents essential for transferring the property. This includes the title deed, RERA approval document, identification documents, registration documents, etc. 

No scope for customisation 

If you opt for a completed project, you can not get it customised according to your needs since it is a finished product. While you can still make minor adjustments, changes in the structure may not be possible. You can not decor and design your rooms according to your taste. You have the final product now you can make your own little changes, and that is all.

Lesser options

Under-construction apartment options are plentiful, but the availability of ready-to-move-in properties is quite low.

How to select a real estate property developer to buy a ready-to-move-in apartment?

There are a few things you need to keep in mind while selecting a real estate property developer. Some of them are:

Better maintenance and upkeep of property

If you want to gauge whether the property that you are shortlisting has good maintenance services or not, you can check these services in the relator’s other completed projects as well. It will help you to investigate the builder’s track record.

Credibility

Find a credible realtor in your area, like Tharun Vikash Properties in Chennai, which has many completed projects and happy customers. Find the one which has a good track record and good online reviews. Be vigilant before investing in a property.

Construction quality and amenities

If you find a credible realtor, they will offer additional amenities and better-quality construction.

These points will help you understand things you need to consider before finalising a realtor and investing in a property.