Top Benefits of Investing in a Ready-to-Move-in Home

One of the major decisions that buyers have to contend with when deciding to invest in a home is whether to invest in a ready-to-move-in home or invest in a home that is currently under construction. Below are some advantages of investing in a ready-to-move-in home:

• What you see is what you get – When investing in a ready-to-move-in home, you can inspect the premises and the amenities available at the project before you invest. This way, you get a feel about the size, layout, and design of the home before you invest in it.
• Immediate possession of your property – Investing in a ready-to-move-in home involves simply making the payment, signing documents, and moving in. There is no risk of delay due to construction or other issues and financial losses incurred in the bargain.
• Loan approval is simpler – The loan approval process for a ready-to-move-in home is simpler because there is a lower level of risk involved. Also, the loan may be available at a lower interest rate. You can also claim tax benefits on the amount in the year you gain possession of the home, which you cannot claim on an under-construction home until you come into possession of the premises, which could be a few years down the line.
• Readily available amenities – The amenities provided in a project are immediately available upon possession of a ready-to-move-in home. In the case of under construction homes, amenities may not be available until after possession of the home, but the home owner will have to begin paying maintenance for these upon buying the home.
• Passive income through rental – An owner of a ready-to-move-in home can immediately rent out their property and begin earning passive income, unlike an owner of an under-construction property who will have to wait a few years until they can begin earning rental income.