Ready for possession or under-construction? Here’s how you can decide


As a home buyer there are multiple considerations that one may have to make in order to decide on the best approach long-term. That’s why buyers talk to real estate leaders, such as Vinod Goenka director of DB Realty, to get clarity on their queries. There are several advantages of opting for a developed building, which may include quicker possession time and ease of living.

However, in the case of under-construction projects, you can save more money while building an asset over time. You also need to think about market dynamics in the area at the time, which may influence the decision-making power significantly. If there is a limited supply of ready flats in your preferred area, then you may have to venture outwards or look for under-construction properties.

Goals for the project

If you want to find that perfect place to live in, then having a ready for possession flat may be the ideal approach. However, under-construction projects can be customized more easily. You can get away with shifting walls and moving pieces around to make your dream home a reality. You can also find the right areas where your fittings, furniture and appliances can be incorporated easily.

Your overall goals will also reflect in your final decision significantly. If you need to buy a new home that focuses on aesthetics and gorgeous interiors, then you may need to start completely fresh. You can work with your designer or builder, to come up with unique concepts while the building is still being constructed.

Reselling, renting or living

Home buyers that want to resell their homes, may want to focus on ready for possession flats that are rising in the market. Leading developers, such as Vinod Goenka, are higher in demand due to their quality constructions and location advantages. That’s why many investors focus on buying and reselling ready flats, after adding a few finishing touches to them.

For homebuyers that want steady monthly income, renting your home out is a good option. This is where you can start working on a new space from the ground up and have it become as unique as possible. Under construction flats can allow you to maximize a 3BHK space, to convert it to a 2BHK masterpiece.

Assurance in possession of flat

There is an undeniable sense of assurance when you are working with ready to move in flats. These homes hold a greater place in the minds of people that don’t like uncertainty when investing. Ready for possession flats can also be inspected for flaws and minor details, giving buyers a greater sense of control in that situation.

In the case of under-construction flats, there could be many things that may go wrong at the time of possession. The date of possession may itself be delayed significantly as well. That’s where homebuyers would prefer working with ready-made flats, instead of opting for under-construction projects.  

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