The motivation for purchasing a home has changed significantly during the past few decades. Nowadays, enhancing our lifestyle is not necessarily our primary goal when searching for properties. However, ready-to-move-in flats are a much better option than under-construction properties for buyers with an end-use purpose. Let’s look into detail to understand the specific advantages of ready-to-move-in homes.
- On-Time Finish
The primary benefit of ready-to-move-in apartments is that there is no chance of a project delay. Instead, ready apartments are just waiting for you to move in. Unless there are some unforeseen circumstances on the side of the developers, you can promptly enjoy the happiness of home ownership.
- Right of Quick Possession
A ready-to-move-in unit’s main benefit is quick ownership or the lack of a waiting time. A ready-to-move-in apartment is the finest choice if you urgently need your place to stay. Making the payment and completing the necessary paperwork will allow you to move in.
- No Rent or EMI Payments
You must pay both the rent for your present residence and the EMI of the bank loan you got to purchase the chosen residence even if you selected an under-construction project. However, your financial load will be lighter if you focus on residences that are ready for you to move into. After purchasing the home, you immediately move in.
- Benefit of No GST
Before that, the GST rate for affordable housing was 8%. However, it was cut to just one percent as of April 1. Undoubtedly a huge relief. What if, though, you are not required to pay even that much? Only projects that are currently being built are subject to GST. What could be superior to saving money?
- Tax Advantages
Tax deductions are available to you if you pay income taxes when you apply for loans. If the project is still under development and the completion is delayed, you could lose a yearly tax credit of 60,000–90,000 INR. Therefore, ready-to-move-in apartments are the best option financially.
In Conclusion, choosing new properties is better rather than old resale apartments when choosing a ready-to-move-in property. An old house has already experienced the effects of time and the elements. Visit https://www.provisionhomes.com/ to know more.