Why one should go for Ready to Move in House?

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There are numerous factors to consider before making the decision to buy a new house. The location, budget, pricing range, builder offers, home loan offers, down payment, under construction, or ready-to-move-in projects are just a few of the many options available. However, currently, the choice for purchasing a home is more towards ready-to-move-in housing developments. The reasons for home buyers' decisions could be attributed to a variety of variables, the most prominent of which has been the impact of the pandemic on the real estate market.

What Does a "Ready-To-Move-In" Home Mean?

When a real estate developer completes the construction process and even finishes all of the inside furnishings, the house is referred to as a ready-to-move-in home. You may move in right away because everything is already installed, including bathroom fixtures, woodwork, kitchen fixtures and so forth. The builder selling a ready-to-move-in home also has all of the necessary paperwork, including as completion certificates, fitness certifications for occupancy, and any other essential documents.

Reasons why home buyers prefer ready-to-move-in homes

The following are some of the reasons why home buyers choose to buy ready-to-move-in homes:

1) Multiple choices:

This advantage of purchasing a ready-to-move-in property is twofold. First and foremost, the quantity of reality projects in India is staggering, and your alternatives are limitless. Regardless of where you go in the country, you will see many under-construction buildings, completed apartment projects and new housing developments. As a result, you may choose the ideal ready-to-move-in housing complex for your needs. The second advantage is that you can select your preferred flat or home from the ready-to-move-in housing project.

2) Move in quickly:

Because this type of property comes fully equipped with all of the necessary fixtures and amenities, you can move in quickly with all of your stuff. Unlike a home purchased in an under-construction housing project, you do not have to wait. It would be ideal if you chose a ready-to-move-in property when you need a house for quick occupancy.

3) Save Rent Money:

Choose a ready-to-move-in home if you are currently renting and intend to purchase your own. It will help you save a lot of money on rent because the house is ready to move into immediately. The property includes all of the conveniences you'd expect in a house for comfortable living. The money you save from not having to pay any more rent can be used to pay the house loan EMI. This manner, you also possess an asset in your name that will grow in value in the future.

4) Less risky:

This is significant since many people invest in housing projects that are still in the construction stage because they are less expensive. However, it is important to note that many new project builders are unable to complete the project on time or, in some cases, completely halt it for a variety of reasons. As a result, a ready-to-move-in housing project is less dangerous because it is complete, and all you have to do is guarantee the documentation is correct. Another item to keep in mind is to choose a reputable real estate constructor and, if feasible, stick with well-known brands when purchasing a property.

5) Inspect the Property Before Buying:

The best aspect about buying a ready-to-move-in home is that you can inspect everything before deciding to buy it. You will view the finished house with all of the fixtures and amenities, particularly if it is an apartment complex. Such apartment complexes often include stores, recreation centres, playgrounds and swimming pools. Furthermore, purchasing a home in a completed development offers you the confidence to invest and live there with your family.

6) Ensures Tax Benefits for Home Loans:

The majority of the IT department's tax benefits are based on completed residences, and a ready-to-move-in property ensures this. When you take out a home loan to buy a house or a flat, you can deduct taxes from your monthly income. Furthermore, unlike under-construction homes, a ready-to-move-in home enables you to claim tax breaks immediately following ownership. These tax breaks apply to both the principle amount of the house loan and the interest amount you pay. Thus, you will be able to save money on such a completed house renovation.

7) Ease of documentation:

Before purchasing any property, you must do a thorough examination of all land documentation. The advantage of a ready-to-move-in-home project is that much of the documentation and paperwork is already in place, such as the completion certificate and any other relevant certifications. A completed house project also makes acquiring a home loan easier because many essential documents are already available.

8) GST exemptions:

Ready-to-move properties are exempt from the 5% GST that is levied on under-construction properties. This exemption saves you a significant amount of money because property costs are high.

9) Saves time and effort

Constructing your own home or even a property in an under-construction project requires a significant investment of time and labour. Everything from the structure to the interiors requires oversight and execution to be excellent. It is only achievable if you dedicate your valuable time to it. A ready-to-move property saves you time and effort because the builder has already completed everything.

Conclusion

Buying a home is usually a big decision that requires a large expenditure. Because of the pandemic and the uncertainty of taking ownership of unfinished developments, buyers prefer ready-to-move-in homes. While buying a ready-to-move-in house has numerous advantages to purchasing a newly constructed home, there are a few things to keep in mind. It is better if you can ensure that the property you purchase has a clear legal title and is free of any litigation or worries by hiring a lawyer.