These days’ apartments are the way to go if you are buying a property. This is because not many people having the spending power to buy a plot then build a house on it. Buying land insider a city requires a lot of money plus there is a serious shortage of plots in the main parts of any big city. Land can be purchased in the far flung areas of the city but usually these parts are quite far away and are best ignored.
Apartments go through different stages of construction. Based on the stage of construction the property is priced differently. Here is a quick guide to buying a property at different stages of construction with the pros and cons listed out for your benefit.
Pre-launch stage
This is the stage where no a single construction has gone up. The builder who have just announced that he is going to build a project which certain kind of specifications at a certain area. Here the developer would say he is offering this project at a specific going rate which is special to because the building is at the pre-launch stage. This is the cheapest rate at which the property can be purchased. But the risks here are quite high. Not one stone has been laid at this point. There is a 50% chance the construction might never take off. And even if it does take off the property might not come into your possession for at least 2 to 3 years or even more. So if you are taking this decision go with a builder of some repute and prepare to wait for a bit to get your hands on your home.
Construction stage
This is when you can visibly see the construction taking place at the site. The going rate here will be a little higher than the pre-launch stage. But here at least you know that the project has taken off. With every floor that goes up you can rest assured that your home will come to your eventually. But at this stage all there might be construction delays etc. So be ware and purchase the property accordingly.
Ready to move in
This is the safest stage to pick up your property. But the property price would have gone up. But you will get your property immediately if you are willing to pay the price. If you are willing to wait and see how the construction goes then the ready to occupy stage is the best stage to buy your home. Also if you are in a hurry to get a home this stage when you should purchase your property. So chose the right kind of construction stage which suits you and your requirements perfectly.
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Indiaproperty.com
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