Why should you buy a home during its new launch phase?
Authored by: Ashwinder R Singh (Residential real estate expert & Best selling author)
You might be familiar with terms such as ‘prelaunch’ and ‘new launch’ in the real estate industry. These terms refer to newly launched projects. These terms are commonly used to market the property to potential buyers. Because they are more affordable than completed homes, investors are keen to purchase properties in the new launch phase. The new-launch phase offers buyers the best price advantage. It is also a good idea to look for new projects in your area if you are looking to purchase a property. There are other benefits to buying a brand-new property. Let’s find out the benefits of purchasing a property during its new-launch phase.
Early Birds offer
During the initial phase of launching, most builders will offer attractive price offers. Real estate is a competitive market so builders will offer early bird discounts to help buyers. This is a great opportunity for homebuyers to get a home at the best prices. Newly launched projects can be a great choice, whether you’re looking to buy a home or invest in one. You can do market research to find out that semi-constructed and ready-to-occupy properties will have a higher price than those newly launched. If you are looking for a low-cost property to buy, a new-launched project is the best option.
Evade Price Hike
A benefit to buying property in the new-launch period is the ability to block price increases. Property prices are subject to a price hike after the new-launch phase. This is very common in the realty market. This is why investors prefer to buy properties during the new-launch phase. Price increases can be caused by many factors, including increased demand for property, new infrastructure development in the area and rising labour costs. You can save significant money on future expenses by choosing a new project. You can also consider selling the property at a higher price in the future to make a large profit.
Additional Features & Customizations
You are less likely to find an apartment with the best view or layout if you choose a finished project. If you’re buying property in a new project, however, you have the option to choose from many units and pick the one that suits you best. If you are looking to customize the interior layout of your project or make small changes to the design, it is possible. Gated villas are no different. You can pick your own design and build the home of your dreams. The good news is that you can have all of these customizations done within your budget.
A newly launched villa or apartment project is a good option if you want to increase your investment portfolio. No matter if you’re an investor with experience or not, purchasing a property at the new phase of a project will save you a lot and prove to be a worthwhile investment. To avoid unexpected legal and financial problems, you should only choose a trusted and reliable builder. Before buying property in India, make sure you verify the RERA registration number as well as any other legal documents required by the government.
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Authored by: Ashwinder R Singh (Residential real estate expert & Best selling author) You might be familiar with terms such as ‘prelaunch’ and ‘new launch’ in the real estate industry. These terms refer to newly launched projects. These terms are commonly used to market the property to potential buyers. Because they are more affordable than completed homes, investors…