“Don’t sit on your hands waiting to buy real estate… rather buy the real estate and then sit on your hands,” Will Rogers best explains it.
Making a purchasing decision such as the taking of a house is one of the most exhilarating and yet daunting tasks that a human can face. After an exasperating ordeal of picking out a dream house, the mortgage, and the legal affairs required to ‘own’ it, at last, you have a domicile that you can claim as yours. When it is time to scout for the property adverts, you are bound to see terms like new-launch, pre-launch, early bird, and so forth plastered across newspapers, billboards, and online for easy reach out to potential customers. In the eyes of a buyer they do sound very appealing as the intention is to sell to them.
New-Launch Real Estate Projects: What Is It
The first and foremost advantage is, of course, the pricing of the project. If one is an early investor, a widerange of benefits can be availed. If it’s an apartment complex of 1000 units, perhaps the first hundred units bought may have discount offers and other gifts from the developer. However, the developer purchasing offer has additional advantages to home buyers. In this article, you can find the top reasons why you should consider investing in a newly launched realty project.
1. Pre-launch investors get the most advantageous discounts
The builder has recently announced the project and the work is expected to commence soon. There may not be a lot of people who are aware of the project as well. The preconstruction phase is a good time for the buyer to construct as the builder is providing discounts to encourage them to close a deal quickly. For instance, if you want to compare a price of a potential house with a similar house under construction or a house ready for occupancy in the surrounding area, you will be surprised by how good a deal you are getting. In reality, the sensational price gap would bring the total cost down by 20 to 25 percent allowing new homebuyers to save massively. These were the prices that you were supposed to get at the pre-launch stage as it is the only time construction has not occurred so the price has not been affected. Also, with the RERA law coming into legislation, you do not need to be concerned about the safety side as well.
2. Bumper Price Kya Tarikh Kiya Jaaye!
A project starts firing up the moment work begins and news emphasizes all the details in the importance. The concept of demand and supply exists in every market and the higher the demand in the case of a project, the builders stand a greater probability of increasing the rate. Similarly, as people start using their purchased apartment units in the project, the price at those later levels goes up significantly. Moreover, the launching of other projects in that neighborhood, the development of infrastructure and the linkages and inflation in general provide increments in prices over the time.
In order to compensate for their early discounts, builders in the future also charge higher prices. This essentially implies that the cost could even be significantly minimized by securing the early bird price during the first stages of the project wherein the prices are being touted.
3. The Best is Yours & Your Nest in the Dream
You are among the first buyers, then you are lucky enough to have the best choice as to which apartment unit you can be able to purchase that meets your budget and other related needs.
You can choose whether you want the 2nd floor or the 20th one, the sea view unit or the garden facing one, a simple furnished 2 bhk or even the magnificent penthouse any of them suits you. In fact the only downside of being an Early Bird is the fact that there are too many options available but then again the price off is well worth it.
Another steal is the fact that you have the right to make alterations to the housing unit you are intending to buy so as to suit your needs and desire. Flooring, woodwork, kitchen area and even sanitary fittings can be customized to the liking of the family. Some builders even offer the services of an interior designer so that the buyers can decorate their homes as per their liking.
4. Economical & Budget Friendly
Every homebuyer does not only get tax benefits and rate of interest subsidies. During the pre-launch stage, builders give out the best offers to their first set of customers. For example if you book a house during the new-launch phase, then you can also use some schemes that will relieve you of some finances. The Zero EMI feature allows the possibility of builders abrogating the loan EMI until the flat is handed over. Only the first few customers may just be offered special interest rates.
Other gifts much like gold, a car, free parking space, or paid family holidays are also offered by the developers to their early buyers. In general, a minimal fee is charged for reserving an apartment during the pre-launch period.
5. Enjoy a High Return on Investment (ROI)
Of all the financial contributions a person will make in their lifetime, real estate is most likely the largest. He who invests early, also invests smartly as he is able to maximize the returns on his capital investment. The cost of real estate purchase is decreased by buying various benefits & discounts in target price offered to the property buyer.
Yes, achieving that level of wealth may be easier said than done. However, it is more easy to achieve focusing on these two important aspects. To create wealth it is important to know what properties to buy at what price and for what time period to hold them. After remaining for some time the property can be sold when the construction is complete or further after the project has been undertaking for some time. the key restates the how to do timing of investments, specifically the entry price.
Important Points To Note
- As a policy, it is ideal to work with builders who are recognized in the industry and have a history of successfully and responsibly completing projects
- When investing in real estate, location must always be taken into consideration. Look for a property that is located in a developing region with the necessary facilities, and infrastructure development is favorable.
- No one should cut corners when it comes to real estate property. Ensure that real estate attorneys review the documents carefully. Verify the legality of filed projects’ registration details and sanctioning from the local government.
- Evaluating concrete objectives for the final use will allow buying a particular property by being within the chosen budget.
Conclusion: Home is Where Your Heart Is!
Investing in real estate is great for those looking for a long term investment. Other than the price appreciation, there are other advantages including saving on rent, tax exemptions and the peace and comfort that a house can provide to the family.
“The best time to invest in real estate was ten years ago. If you missed that, then today is the day to begin.” This means, don’t wait for the right opportunity. If it’s the right time for you to buy, then it’s the right time to buy. For all you know, the property you desire may have been launched only a few hours ago!
For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.