Advantage Of Buying Property During Its New Launch Phase
Real estate in India is booming with an increase in the number of projects and development. With several options for easy payment for all kinds of home seekers interested in purchasing the property.
Buying a home is still a million people’s dream. Some have to sell off their existing property to get a new one with an additional cost and some go into debt for like 2o years for the payments of EMIs. Some people completely exhaust their savings to make a down payment or buy a new home.
If you are a prospective buyer or looking for property for an investment purpose you must be aware of the words like an early bird offer new-launch phase.
These offers don’t only attract the buyers but the investors as well. These terms are used in the initial phase of the construction or before construction to gain attraction among the potential buyers.
Prices in the initial stage of any property are generally low and attractive. This move is done intentionally to attract and create a buzz in the market.
Buying a property during its new launch phase will allow you to save your pocket from the dent, and the seller is more flexible in letting you choose the floor or type of view you want according to your preference especially if it is a high rise apartment.
Apart from the attractive offer, I’ll tell you below some amazing advantages you can avail of if you book your property during its new launch phase.
Note: Do not get attracted to the less price offer. With RERA in place, developers are supposed to deliver it on time and if they fail to do this they are liable to pay the compensation to the buyer.
As an intended buyer, you would definitely want to buy your dream house but within a budget. The new launch phase is the best time to grab this opportunity to save your money. When the project is in the middle or near completion the prices will go up eventually so it’s better to block it during the new launch phase.
The prices go up after the new launch phase and that’s the mistake people usually do to invest at the right time. Booking up your dream home during its initial time is always a smarter move.
A rise in property prices can lead to several factors. Like the location or increase in demand of that building due to an increase in the price of that particular area or the cost of labor has increased, rise in the market price of the raw material. Even after the revision in their new policy, you did not need to pay any additional amount.
Furthermore, you can move in easily when it’s ready or you can sell it at a higher price.
Increased competition in the market of real estate big developers tends to offer during the initial phase of the construction such offers are known as early bird offers. Usually, investors buy the property at the early stage because they know it will give them a good ROI later.
As an intended home buyer, you can avail of these offers to save extra chunks for a later process like registration, home decoration and almost 30-40 % of people save while booking during the initial phase of construction.
Once these projects are ready for occupancy then you won’t get these offers. Buying a property from a reputed developer will give you some extra benefits like deals with banks (EMI), and he will be having all the required legal permission. So that you won’t face any issues later and your money does not get blocked.
In comparison with the ready-to-move-in apartments are way costlier than the apartments during its new launch phase. It recommended booking an apartment during the initial phase.
If you want an apartment view of your preference or need some alteration in the layout of an apartment or villa you can get done these things only in the initial phase of the construction.
During a new launch phase, you get an option to get your preferred apartment with a view and you can even ask for some minute changes in the interior or layout of your preference. These are the perks that you will get in your budget. Once the building gets constructed you can’t make such modifications.
The new launch phase is a great opportunity for the investors who are looking to invest in real estate for better ROI. Before investing in real estate, always do intense research on the developers to avoid any threats in the future.
It’s always a smart option to invest during a new launch phase and when the price starts rising you can resell it at a higher price. Later you can enjoy some profit margin during a short span of time.
The offer which you get being an early bird is that you can get tax benefits on a home loan. Several schemes are there when you buy a home, many developers give you an option to just give the front payment of 20 to 25%.
Later you can start the EMI after getting the possession so you get rid of this burden until you get the possession. This way the situation for both the builder and buyer is clear you will not end up losing all your money and to get the full payment builder will do the construction at a fast pace.
Properties in cities are comparatively much more expensive than in the outer areas of the city. Even the cities are getting overcrowded with literally no open space left in the residential or commercial areas.
Slowly, the developers are moving towards the outskirts of the cities to build in the large and open areas with a plan of developing a whole city there and providing all the amenities.
So it is a smart investment as most big companies and offices are shifting toward the suburban areas. You can invest depending upon the location and how fast the area is getting popular in terms of living, market, or investments.
If you buy property in the new launch phase you do not need to pay the increased price or the revisioned price once it is fully constructed.
As the projects get completed it attracts more buyers which tends to increase the price because the developer meets up his loss which he made in the initial phase. Therefore, investing with a reputed developer is beneficial for you after all it’s about your dream home.
Questions Arise During The New Launch Investment?
Before buying a buyer looks up to each angle starting from the monetary term to the location. Undoubtedly you can save up to 25 to 30% in investing in the pre-launch phase. It is a risk as a buyer is investing his all savings in something which has not yet been constructed or in the process.
You can check all these factors before investing.
Yes, you do save up to some percent depending upon the project. This is the easy way of investing money and getting a return if you want to by selling it off. Great deal for investors and new buyers.
People do speculate the negative things about the new launch projects that investing here could result in a loss or scam. We do not recommend trusting any developer blindly but yes choosing a big and renowned one is a safe option.
You can’t tell the result just by speculating, a buyer will get the result once the project is done.
Some happy buyers have invested in the initial phase and are now residing in their new homes.
Factors To Keep In Mind Before Buying During The New Launch Phase:
Buying during the initial phase is always the safest and economical way.
Considering all the above points will help you to choose the better option and the research of a developer is required. Please do not invest with any random developer make sure they are registered and they have got all the legal approvals from the government to construct. Do not go for any low investment blindly as you end up getting trapped.