Why People Prefer Buying A Ready-To-Move House

Why People Prefer Buying A Ready-To-Move House

The recent insolvency proceedings faced by some of the most renowned real estate companies has triggered a wave among home buyers. The recent modifications in rules and regulations, such as Goods and Services Tax (GST)and Real Estate Regulatory Authority (RERA) has kept the home buyers in the dilemma for a very long time.

Financial Burden Due to High Rentals

It is almost impossible for the home buyers to buy or invest in a property without taking the home loan. The home buyers have to not just pay the EMIs for the loan but also have to pay the monthly rental for the current accommodation, which adds to the expenses. So, paying a bit of extra amount for a ready-to-move apartment sounds better than paying for unnecessary rentals over a long duration of time.

Rental Income

A ready-to-move apartment is an investment that the home buyers can always count upon. There are many people who park their hard-earned money into real estate to get price appreciation and rentals in return. With an under-construction property, an investor may have to wait for years to get possession before getting rental benefits. However, this is not a case with ready-to-move units. The home buyers can immediately rent out their apartment as soon as they get the possession of their property.

Delayed Possession

There could be hundreds of other reasons which refrain home buyers from buying an under-construction property but one reason that owes the most of it is delayed possession. There are thousands of cases in India, where projects have been delayed for years. This is why ready-to-move apartments are always a preferable choice for home buyers than under construction ones.

Free From GST

Ready to move flats are exempted of GST, which implies that GST rate on ready to move flats is not applicable. This is another great advantage of buying such a residential property, in the present times. That being said, buyers of ready-to-move houses benefit of reduction of the overall financial outflow. With a GST rate of 5% applicable on under-construction properties, having to pay no tax on ready-to-move flats is definitely huge.

If you are looking for affordable housing or even premium housing, you can find it on Nimmadhi. Choose from ready to move-in options, under construction and even resale.