Ready-to-move-in apartments: The perfect home for the first-time home buyer

Imagine this. You just had a word with your bank and your finances are in perfect order. So perfect that the home loan you have been eyeing for some time has finally been approved. You are ready to buy your own home. Now at this juncture, a critical question will undoubtedly pop in your head. What should I go for? Is a ready-to-move-in home perfect for me or will investing in an under-construction project suit me better?

When faced with such a dilemma, do not lose heart. You are not alone. Many, if not all, first-time home buyers encounter the same issue. Both options are equally good but for different reasons altogether. Post-pandemic India is witnessing a boom in real estate and, in particular, ready-to-move-in homes are seeing plenty of takers. And not without good reason. Let us help you and list five reasons why you should go for a ready-to-move-in home if you are a prospective first-time buyer.

• What you see is what you get

Ready-to-move-in homes are completed in every sense of the word. There is no space for discrepancies because what you see, is what you will get. Cities like Mumbai MMR, Bangalore and Hyderabad are witnessing more and more takers for ready-to-move-in homes because of this reason. Almost every developer like Modi Builders, for example, offer site visits before you close in on the deal.

• Build your savings

This is no joke. When it comes to ready-to-move-in properties, you are eligible for certain tax benefits. Tax exemptions on your home loans regarding principal and interest repayment can be availed immediately. This makes a ready-to-move-in home a no-brainer for the first-time buyer.

• Reduce your risks

If you go for a ready-to-move-in home, you reduce your risks too. There are no project delays nor chances of being duped associated with ready-to-move-in properties. You know exactly what you are paying for.

• Budget friendly

It makes no sense going for a home well outside your budget constraints. What use is a home you need to pay off for the rest of your life? Ready-to-move-in homes come in different categories with different pricing. This means that there will never be a situation where you end up paying for a home well above your budget.

• Immediate ownership

Last but not the least, your new home will be ready to welcome you the second you have closed the deal. Immediate possession of the home is guaranteed with ready-to-move-in homes. Contrast that to under-construction projects wherein you will have to wait for a couple of years before it is completed. Not to mention additional costs that may crop up during the construction phase which will add to your initial budget and drive your spending over your intended budget.

The pandemic has opened our eyes to the very real possibility of our homes becoming our offices too. This has highlighted the obvious shortcomings of our present accommodations which, in all honesty, were not designed for a work from home lifestyle. Premium residential projects in Hyderabad, Pune, Mumbai MMR and Delhi NCR, among others, are being sold out at rates never seen before.

That being said, the final decision is yours for the taking. You understand your needs best. It pays to do the necessary research before investing in any project. Always remember to engage with legitimate developers who have solid track records. Happy house hunting!