Choosing between ready-to-move and under-construction properties


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Ready-to-move-in and under-construction properties have their own pros and cons. One needs to weigh all factors before deciding which kind of property to purchase.

For a resident in a city like Mumbai, many of us aspire to become a home owner one day. The practicalities involved in acquiring your dream home even though, a dreamy concept, is that it marks for a once in a lifetime investment of one’s life. A home is not an item one can just go to the market and buy, thus, careful research towards finding the right home is very important.

One of the biggest questions that a home buyer has is if he should purchase a ready-to-move apartment or go for an under-construction property. While each option may ring distinct tunes to different customers, one must be aware of the pros and cons related with both the choices.

Under-construction homes have several advantages which can be used to the most effortless gains. Such homes can be customized to a customer’s meticulous desires making it their dream home. While a ready-to-move-in home can also be customized, an under-construction home has a lesser hassle rate of doing so, wherein your developer does the job you desire once and for all, thus, limiting the requirement of additional resources. One can also buy an under-construction home at cheaper rates. When they are ready-to-move-in, rates surge by 10-12 per cent, thus making under-construction units an affordable option. Even the Equated Monthly Installments are much lower for under-construction units, as compared to the ready-to-move-in homes, making them an even more reasonable choice. In the case of under-construction homes, one has a wider list of choices in terms of the floor that one wants to live on, the view the view that you want to opt for, as well the home’s location and ease of travel.

However, some of the fears in purchasing an under-construction property are the possibilities of losing money if the project doesn't go through, as well as income tax claims, wherein home buyers may have to pay excess. In some cases, clients do not receive what they were promised to them in their homes such as amenities or that extra space they desired. There is also a possibility of delay in the projects due to countless reasons such as land disputes, permissions from the local authorities or financial glitches. This all reiterates a phase of inertia which is a con when buying a home which is under construction. Service tax or VAT applicability is also another hindrance which can alter one’s ease towards buying their dream home. It is essential for a first time home buyer to consult an expert for a thorough background check of the developer. This will assure that your venture is safe and sound.

Ready-to-move homes, on the other hand, have their own pros and cons. When one moves into a home that is ready, the feeling of pride and joy is overwhelming and instantaneous. The hassles and constant annoyances which occur in under-construction homes lead to discomfort. The home which is then received after months or perhaps even years, gives you but a sigh of relief rather than the ecstatic joy it was meant to!

While it may seem pleasant and noble to purchase a home at a low cost, it is definitely a better advantage to just move into a home without having to wait for a certain amount of time, which could lead to uncertainties in purchasing that very home!

Right from the time a project is announced up till it is completed, it sees a substantial growth in value but once it is ready the value increases at a static rate. This makes the home that is ready to move in a far better option when considering the basic value of the same home!

In case of a ready-to-move-in property, buyers also get to see exactly what they are going to purchase as their dream home. One also gets to understand the locality and neighbors as well as the atmosphere for kids. When you compare it terms of tax liabilities, you have to only pay stamp duty and registration fees, while service tax and VAT liabilities are annulled.

However, with a ready-to-move-in home, there are certain distinguishable disadvantages. When compared to that of under-construction homes, these are much more expensive. There are also fewer options to choose the floor, view, and location of the apartment.

One must consider a set list of factors which can help decide whether to buy an under-construction or a ready-to-move house. These factors are the financial condition of both yourself as well as the developer, the locality of the project and the time availability, as in how soon does one want their home. Once these are checked, it is very easy for a customer to purchase their dream home, whether it be ready to move or under construction! 

Author's note: The author completed his MBA in Finance and Marketing in 2012 and founded the the Geopreneur Group at the young age of 24. He won the "Young Achiever Award" and the "Emerging Developer of the Year - Residential" at National Awards for Excellence in Real Estate & Infrastructure 2015.

Disclaimer: The views expressed in the article are solely of the author and may not represent's opinions on the subject. does not take responsibility for any actions taken based on the information shared by the author.

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  • Hosting October 21, 201611:02 am

    A lot of people who are paying very high rent or travelling very far for their work tend to buy the ready to move houses because they want immediate relief from the high rent or travel cost and one can get it in ready to move properties.

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