What Are The Benefits Of Buying A Ready-To-Occupy Apartment in Kochi?

If you are willing to invest in real estate, ready-to-occupy properties make one of the best choices. Although a bit expensive, ready-to-occupy flats in Kochi are more advantageous than rental flats.

Since you would have to pay for the full cost of the property before moving in, you can avail bank loan for the 80% of the cost based on your eligibility. 

Top Benefits Of Buying A Ready-To-Occupy Apartment

• You get what you see

Under-construction apartments are sold on paper. Sometimes the outcome may not meet the expectations and what is promised. Based on the builder's credibility it varies and Desai Homes always keep their promises to their owners. Whereas in the case of ready-to-occupy flats, you will get to see your property and inspect it before deciding to move in. 

• Instant Ownership

Since you are directly moving into your purchased flat, you will immediately receive possession of your home. But for under-construction property, you have to wait 3-5 years until the flat is handed over to you.

• Lower Risk

There is no risk of delayed possession in a ready-to-move-in property. In the case of an under-construction property, project delays can happen and there are many cases where a builder has duped buyers. Hence, you need to be cautious while choosing a builder for an under-construction property.

• Only EMI With No Down Payment

One of the most helpful things about the ready-to-move-in property is that you would have to pay EMIs on the home loan which would include no other payments. In the case of an under-construction property, EMI normally begins after the completion of construction work and you need to pay interest for the disbursed amount till then. Despite this, if there is any delay in the construction, then the EMI will start after that interest will be accumulating too.

• Provision To Check Infrastructure and Other Facilities

When you buy a ready-to-move-in property, you can check the infrastructure and other facilities available around the flat before purchasing the property.

• No increased cost

Another major benefit of buying a ready-to-move-in property is that you need not pay the increased cost or hidden cost of the property which can come later. Builders like Desai Homes agree to the amount at the agreement and no further escalation happens from the agreed amount unless the government increases any taxes. 

• Budget-Friendly

Some builders often demand extra money for under-construction flats which ultimately goes over your planned budget. With ready-to-occupy flats, you can buy a property that lies within your budget range, making this an affordable option.

• More Savings

Ready-to-occupy flats provide an opportunity to make more savings and also to generate rent as additional income. If you are living in a rented apartment for which you have to pay an enormous amount of rent, you may find instant relief from the burden by purchasing and moving into a completely constructed home. 

Even then, in case you don't need such a property and are planning not to stay there, the investment can be further capitalized since you can let out that same flat or apartment, and receive additional income with which you shall at least make more than satisfactory payments against those EMIs.

• Ease of sale

Selling an under-construction property can be quite challenging, especially when possession is delayed or is under litigation. Most of the time, developers do not let the transfer of flats happen until the project is over.

• Check Out The Neighbourhood in advance

Getting like-minded neighbours is most important in the long term. A huge advantage of ready-to-move-in flats is that you can explore the locality beforehand!

Also Read: Formalities for Registering a Flat/Apartment

Conclusion

Ensure you purchase your flat from builders with constructions that are RERA-approved, and have a good reputation and established projects. If the construction is RERA-approved and does not deliver a project on the time stated for delivery, he is liable to pay compensation to the buyer.

You can take a tour of all the amenities and security measures adopted in the building and its premises once the project is completed. Be it world class amenities like swimming pool, health club, recreational facilities or security guards, one can directly see and get a feel in ready to occupy projects.

Desai Homes has excellent residential development projects, which include both ready-to-occupy flats and under-construction flats. If you wish to buy a 2BHK apartment or flat in Kochi, make sure to perform detailed research or contact us: https://www.desaihomes.com/contact 

Email: [email protected] 

Phone Number: +91 484 4177888