9 Reasons Why Home Buyers opting for Ready-to-move-in Homes

Everyone looks for a secure place which is filled with all amenities, facilities and suitable environment and ready-to-move home creates a new image and a symbol of new beginning of life. A better lifestyle always looks for a better place, good things and many more that fit good in life. In the hectic life everyone wants a home where one can rest and spend quality time. To provide such comfort many of renowned real estate developers are providing ready-to-move-in apartments.

Nowadays, the customers are very smart and they invest in projects that are safe and productive. Before making the final call, they make thorough checks on the realty firms, they properly inspect the developer's past projects and opt for ready to move in flats.

A good number of home buyers are interested in buying ready-to-move-in homes when compared to under construction property, as the latter requires waiting time, which can take a couple of months and sometimes even years to get possession. There are various reasons which can cause the delay of the project, due to which home buyers prefer ready to move property.

Benefits of buying ready-to-move-in Homes:

• Immediate possession: Buyers do not have to wait to move into the house. All buyers have to do is make the payment, sign the necessary papers and move in with their baggage.

• Reduced Cost: Opting for ready-to-move-in flats can give some tax benefits when you take home loans.These benefits can help you reduce the expenditure.

•  You get what you see: Buyers pays for what they see. As there are people already living in the apartment or society, the buyers gets a fair idea about the locality, nearby shopping and utilities centers etc.

• No service tax: The good news is that you don't have to pay service tax if you invest in a ready to move in property. The rate of this tax payable is around 5% so that's quite a bit of money you save.

• Immediate relief from Rent: A lot of people who are paying very high rent or travelling very far for their work tend to buy the ready to move houses because they want immediate relief from the high rent or travel cost and one can get it in ready to move properties.

• Neighborhood: This is one big advantage of ready to move houses. You can already see who your neighbors are, what community they belong to, what income level they have and if you would like to be with them or not.

• Verify legal status: Since the property is already completed, it is easy to check if the developer has obtained Occupancy Certificate or not. You should also get your lawyer to verify the Land title to save yourself from any future hassles.

• Infrastructure: The decision of purchasing a home does not depend on the society. But you should also consider the location is well connected and has necessary infrastructure such as roads, transport facilities and educational institutes etc..nearby.

• Tax Benefits: Most home buyers avail of home loans for a purchase. For a ready to move in home, the tax benefits from a home loan payment are a plenty. A home buyer is entitled to claim a deduction from their income of up to Rs. 1.5 lac on the principal under Section 80C of the Income Tax Act and an additional deduction of up to Rs. 2 lac on the interest component of the home loan, under Section 24B.

Buying a property is always a big decision and it requires a lot of money. So, explore your options and do your comparison well beforehand and only make your buying decision when you’re absolutely confident about it.

This guest post has been written by Gunjan Johar, Real Estate Analyst & Home Decor Blogger