Buying a property can be tricky. It involves a lot of planning and research since it is one of the biggest financial decisions of your life. One of the main factors that influence this decision is the type of property you want to invest in and the course of construction involved. Keeping that in mind, new launches are one of the most-preferred projects for investment due to the plethora of benefits they offer. Here are a few of them:
Early Bird Discounts
One of the biggest advantages of investing in new launches is the wide range of early bird discounts you can avail. Real estate projects, in general, happen in phases. Before commencement of construction, property developers start promoting the project with attractive discounts for the buyer. A minimum of 10-15 percent discount is offered at the initial launch. Sometimes this can go up to 20 percent for those projects that are still at the design stage. In most cases, home buyers can save up to 30 percent of the total cost of the property. Additionally, the demand of the property increases at the development phase. This automatically results in the increase of the property rates.
Best options available within your budget
Today, real estate investors are spoilt for choice with the plethora of property options spread across leading cities. You can make a wise decision by considering factors such as location, budget, need and amenities provided in a premium property. To add to that, you get the early bird advantage of choosing the specifications of the property once you narrow down on the development you are investing in. For example, in a gated community, you have the convenience of deciding between a penthouse with a spectacular view or an easily-accessible apartment near the lobby or the lift area. Hence, your options are more varied. You can also choose the floor and the number of bedrooms you need as per your preference due to the comparatively larger number of vacant units.
Pay with Ease
Opting for a loan is the easiest way to fund your real estate dreams, especially because of the wide range of tax benefits you can avail on home loans. In order to take off the burden of EMI from the shoulders of the investors, real estate developers have introduced innovative schemes. One such scheme is the No EMI till possession. According to this scheme, the buyer needs to pay only 20% of the initial property cost to the builder. Until the property is transferred to the name of the buyer, the builder will pay the interest against the loan amount. This way, the investor can enjoy an interest-free loan amount until the construction of the property is complete. Additionally, this pushes the developer to complete the construction of the property on time, creating a win-win for both the investors and the developers. This is also a very convenient scheme for buyers who cannot afford to pay rent and EMI.
Get it customised
This is the biggest advantage when you buy a newly launched property. You have the opportunity to customise the configurations of the rooms according to your comfort and convenience. At the prelaunch phase, it is easier to make minor changes which are compatible with the basic structure and make of the property. Since the development is still in the initial stage, you can also decide on the wall paints, flooring, and furniture provisions, and plan your home décor ideas accordingly. Once you take the custody of your apartment, it is comparatively difficult to make alternations.
There is no doubt that location plays a huge role while investing in real estate and opting for a burgeoning area that promises fast appreciation is your best bet. The rate of urbanisation is very high in suburban areas, attracting investors like a moth to a flame. Keeping this in mind, it is a good idea to invest in a newly launched property situated in the outskirts of the city so the neighbourhood can also further develop as the property develops.
To sum it up, if you are investing in real estate to enjoy high returns and fast appreciation, then opting for a new launch will be your wisest decision. Looking for a new launch in a burgeoning locality? Head out to Lancor’s Lumina 2020 for premium 2 BHK and 3 BHK lifestyle apartments situated in the fast-developing locality of Guduvanchery. From unmatched social infrastructure to seamless connectivity to all major hubs of the city, it offers it all! Visit Lancor today to spot your dream home and buy it