Pros and Cons of Under Construction Property - Godrej Properties
Jun 22, 2023Investments

Pros and Cons of Under Construction Property - Godrej Properties

by Godrej Properties Limited

650

2

Under Construction vs Ready-To-Move Property 

Investing in real estate is a significant financial decision that requires careful consideration. When exploring the real estate market, buyers often encounter two options: ready-to-move-in properties and under-construction properties. In this blog, we will compare under construction vs ready to move properties based on the pros and cons, helping you make an informed decision.

Unveiling The Pros And Cons Of Ready-To-Move And Under-Construction Properties

Ready-To-Move Properties

Ready properties refer to those that are already constructed and available for immediate occupancy. Let's explore the pros and cons associated with such properties.

Pros:

1. Instant Gratification´╗┐

Buying a ready property allows you to move in immediately, saving you from the hassle of waiting for construction to complete.

2. Better Visualisation

You can physically inspect the property and get a clear idea of its layout, quality, and finishing.

3. Rental Income

If you're considering investing in rental properties, a ready property enables you to start earning rental income right away.

Cons

1. Higher Costs 

Ready properties often come at a premium due to their immediate availability and the convenience they offer.

2. Limited Customisation

Since the property is already constructed, making significant modifications or customisations might be challenging.

3. Potential Wear and Tear

Depending on the property's age, some wear and tear might require maintenance and renovation.

Under-Construction Properties

Under-construction properties are those that are still being built or are in the planning stage. Let's explore the advantages and disadvantages of investing in such properties.

Pros

1. Lower Initial Investment

Under-construction properties generally have lower upfront costs, making them more affordable for buyers.

2. Customsiation Options 

You can choose finishes, layouts, and other features, allowing you to personalise the property.

3. Potential Capital Appreciation

Over the construction period, the property's value may appreciate, providing higher returns on investment.

Cons

1. Uncertainty and Delays

Construction projects often face delays due to various factors like weather conditions, labour issues, or regulatory hurdles.

2. No Immediate Possession

Depending on the project's timeline, you'll have to wait for the construction to complete, which could take months or even years.

3. Quality Concerns

Without the ability to physically inspect the finished property, there might be uncertainty regarding the quality of construction and materials used.

Final Thoughts

When it comes to choosing between ready possession vs under construction properties, it ultimately boils down to your preferences, financial capabilities, and investment goals. Ready properties offer convenience and immediate possession but at a higher cost. On the contrary, under-construction properties provide customisation options and potential capital appreciation but involve uncertainties and delays.

 

Frequently Asked Questions

1. How to aviod GST on under-construction property?
 Ans: It is impossible to completely avoid GST on under-construction property as it is a mandatory tax imposed by the government.
 

2. How should I make a decision between ready to move vs under-construction properties?
 Ans: Conduct thorough research, seek advice from real estate professionals, analyse your personal goals and evaluate the pros and cons of both before deciding.

Previous Post
Next Post