Buying a new home is a major step. It is a huge responsibility, a long term financial commitment. So, every single choice you make in this would have a long term impact on your finances. First there is the question of whether you should buy a home or simply rent one. But in a lot of cases you might find buying and paying the home loan to be a better option in the long run than paying expensive monthly rents. And then comes the question – should you buy a resale property or a new one? If you plan to buy a new property orrentals in the south of france, do you settle for a ready to move in home or an under-construction property? There are many pros and cons to each of these choices.
Why choose an under construction property?
Though a lot of people prefer buying a ready-to move in home there are several reasons why an under-construction project might be a good investment.
You get good discounts:
With pre-launch projects and those that are still under construction you would be able to get good discounts. Besides the discounts in price you would also be able to get flexible payment terms. There are some builders that only charge a portion of the property value and the remaining can be paid when the project is completed. And the actual price of the property at the time of completion might be higher than the actual price you paid for. So if you choose to resell you can make a good deal.
When the project is still under construction you can intimate the builder of any small changes that you would want in your property. When you buy a home in a community there might be certain norms about the customization limits and you can choose from all the options that are permitted.
You get more options:
When the project is still under construction you get to choose the house that you need. In an apartment building, there might be different houses of different floor plans. You get to choose from the diverse options when you choose in an early stage. Ready to move in projects might have a lot of homes already handed over leaving you very few choices.