5 advantages of buying under construction property

You all are in the in the hunt of buying a dream home. You need to be a smart observer whenever it comes to taking a decision of buying either under construction property or ready to move in property. In a city like Nashik, at present, although there are numerous 2bhk flats in Nashik, however, some apartments for sale in Nashik which are under construction can still be preferred for the very reason tht is they are under construction. 

There are certain key reasons as to why you should prefer a property which is undergoing the phase of construction. Here are the 5 reasons as to why under construction property is an affluent buying option:

1)    Affordability:
The biggest advantage of an under construction property is that it is affordable for even if you avail a home loan. Life becomes easy from payment perspective. You make a down-payment which is generally 20% of the property price and then start paying the monthly EMI’s and this is how a lot of people are able to own their dream homes.

2)    More choices of floor and location:  
You always have more choices regarding location and floor while buying a property. With the advent of under construction property you get the liberty of choosing the location of the property at first and the floor as well. For instance, if you don’t want a flat on the 10th floor, you can book your flat on the third floor, which does not happen with ready to move in property.

3)    Flexible payment plans:
In order to simplify the payment procedures, builders and developers have introduced several plans such as construction linked plan and down payment plan. In a construction linked plan, total cost of the property is paid in to staggered instalments depending on the progress of the project. As per the down payment plan, a portion of the due amount is paid in cash before finalizing a transaction.

4)    Value appreciation:
As future development is anticipated in the under-construction projects, value appreciation becomes a likely cause. If compared to ready possession properties, under construction properties have a high potential of an increase in the price.

5)    Higher returns on investment (ROI):
The prices of under-construction properties are comparatively lower than ready-to-move-in properties. During construction stage, the prices get an upward shift and vary as the construction progresses. So, there are more chances that you will earn more amount of ROI as your under construction property progresses in its construction stages over the years.

So, this is the right time to buy under-construction properties. Make the most of such opportunities!