The real estate industry has experiencing a positive change and so are the home buyers. Interestingly, in the present scenario, the home buyers have become smarter than ever before. As property-seekers know what they exactly want from the realty sector.
The realtors also understand the need of the hour and thus offer ready to move-in flats parallel to their under construction residential projects. The process of owning property includes a lot of things and thus the demand for ready to move-in apartments comes with several benefits.
On a whole, if you are an aspiring home buyer for the purpose of moving into a personal space then ready to move-in flat is the best choice.
Here are the points that state why ready to move-in housing structure is better opting than the under-construction property.
1. On-Time Possession
The biggest advantage is to get timely possession. Here, you simply have to choose a home according to the budget and have to make the down payment. Whereas, in the under-construction property you have to wait for the project completion as the builder offers possession once the entire project is complete.
2. Get What is Promised
Another benefit of this property is that you pay for what you get. Technically, the prospect gets a clear idea of where he or she is going to live in the future. This helps the aspiring home buyers in decision-making and thus the prospect money is worth investing.
3. Higher Saving
The home loan on a ready to move-in flats are more helpful in tax savings. Thus, you can save handsome money by owning this type of residential property.
4. Relaxation from Service Tax
Surprisingly, the ready to move-in flat owners gets relaxation from the service tax. These landlords won’t have to pay the extra 5percent which proves beneficial in saving money.
5. Relief from Paying Rent
A ready to move-in home is the best option if you are currently residing in a rented space. The choice to own ready to move-in property help you save the rent amount as you only have to get the home loan amount deducted from the monthly budget.
6. Avail Tax Benefit
The taxpayer is eligible for tax deduction under Section 80C which covers a couple of investments. But, availing a home loan for a buying the ready to move-in property makes you eligible for a tax deduction upto 2 lac INR under Section 24B.
7. Approved Legal Status
Purchasing a ready to move-in property is a clever decision as you need not worry about the whether the property you own is legal or illegal.
Overall, the option to buy a ready to move-in property is better than going for an under construction one. This type of residential project rank high on infrastructure, security, amenities, and neighborhood.