5 Benefits Of Purchasing A Property During Its Launching Phase
If you are someone who has been in pursuit of a new home, chances are you might have come across terms like “pre-launch”, “new-launch” etc. These are some of those common terms used widely to denote housing projects that are newly launched.
As the properties in the new-launch phase tend to be economical than the completed or ready-to-move-in ones, investors or prospective home buyers also show more interest in such properties. But is that the only advantage of such properties? Definitely not. Let’s, therefore, have a look at the 5 Benefits of purchasing a property during its launching phase:
1. Early bird benefits
Most of the builders in the real estate market give attractive price offers to homebuyers, during the initial phase of a newly launched project. Prices offered by builders during this pre-construction phase are significantly lower than the ongoing construction or ready-to-move-in housing projects. A basic market research can prove you right on this.
Therefore, regardless of your objective; a home to stay or a property to invest in, newly launched housing projects are a perfect choice any day.
2. Avoid the price hike
The next benefit of purchasing a property during Its launching phase is the privilege to block the price before it’s open to the market and the rates go up. The sudden price increase for properties post-RERA certification is a quite common trend in the real estate market and the option to pre-book and own a newly launched property is undoubtedly an advantage.
As other factors such as the increasing demand for housing properties, infrastructural developments, rising labor costs, raw material costs, and revised laws also contribute to the price hike of a property, opting for a newly launched project will save you a considerable amount, which you can use for future expenses like the registration and interior design.
3. Customizations & extra features
Purchasing a property during the newly launched phase also gives a homebuyer the advantage of getting to choose a unit of their choice with the best features such as floor, view, location, and accessibility (Stairs, lift, etc) all within the budget or the pre-launch rate.
Moreover, homebuyers would also have the privilege of requesting the builder for customization of the interior layout or the design, according to their individual preferences. As the project is in its initial phase, the requirements can be easily considered and realized without much difficulty.
4. Easy payment options
Along with the tax benefits of a home loan, homebuyers can live the dream of owning a home without many struggles. Most of the newly launched housing projects will also have schemes or offers where homebuyers do not have to pay EMI till possession, which can be a huge financial relief.
Furthermore, purchasing a newly launched project, you would only require to pay 20-25% of the total cost to the builders. As the responsibility to pay the interest against the loan is on the builder’s shoulder, it can also drive them to complete the project at the earliest. This is one of the other benefits of purchasing a property during Its launching phase.
5. Smart investment
With almost all of our metro cities becoming overpopulated, not just the millennials, but also the corporates have started to move towards the suburbs or outskirts of the city.
Considering this as an ideal opportunity to invest in real estate, you can buy a newly launched property with all its price advantage and sell or rent it once the project is completed, at a profitable price.
Realizing the dream of luxury living in apartments in Kochi for the sophisticated citizens of the metro city, Veegaland Homes is proud to inspire a one-of-a-kind movement in real estate development.
Veegaland Homes’s K-RERA-registered apartments in Kochi are equipped with sample homes to offer first-hand experience to interested buyers. To know more, please visit: veegaland.com