Buying an Under Construction Property?
Buying a home is both an exciting and tedious thing to do. As a buyer, you should be conscious of every detail that goes into buying your own place. When buying a home, you have to consider the design, the number of rooms and the neighbourhood you want to live in. Before buying your home, you should bear in mind that buying in new construction or an off-plan property is a good option for many reasons. However, this option is not perfect.
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There are advantages and disadvantages to buying an under-construction unit. Buying off-plan is not only affordable but you can also design and customize your unit the way you want it to be. Moreover, it can be cheaper than buying a pre-made apartment. You can save a lot of money just by buying off-plan.
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Another plus to buying a house under-construction is that You do not have to worry about repairs for the next decade or so, since you, yourself have designed or witnessed how your place was built.
Buying an under-construction house has its disadvantages too. For example, when you buy under-construction property, sometimes you do not get what you have been promised. This is the most common complaint when buying off-plan.
The choice also depends on the affordability of a property, availability of funds and the possession timeline. If you do not have the funds and can wait for some time, an under-construction property is the better option. But if you have the money and want to see the back of your landlord, go ahead and buy a ready to move in property.
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