Home Buying

Ready To Move In Apartments vs Ongoing Construction

29 MAY 2024

Buying a home is not a piece of cake as it involves extensive planning and research. The options are so many but you just don’t know which one to go for. One such point of discussion is whether to go for ready to move in apartments or the ones that are undergoing construction. Each option holds its value and understanding these can significantly impact your decision-making process. Let’s delve into the intricacies of each and explore the factors to consider while making this pivotal choice.

Ready to Move in Apartments

Ready To Move in Apartments
A “ready-to-move-in property” is a place that’s fully built and ready for you to live in. If you’re looking to buy a house and have all the money you need upfront, choosing a ready-to-move property is your best bet.

Advantages of Ready to Move in Apartments

You can Physically Check out the Complete property

One of the Top Advantages of ready to move in apartments is that you have the freedom to check the completed property which will give you a clear idea about the living space. Rather than getting a visual idea of the home from the builder, you can see all the spaces for yourself.

You Can Shift Immediately

As the name suggests you can move into your dream apartment at any time without any delay with ready Possession. Once the payment and paperwork are done, you can swiftly acquire the ownership within a minimal timeframe.
Avoid the uncertainty and frustration of waiting for years to gain possession of your property. This quick and hassle-free process lets you settle into your new home promptly, making the transition smoother.

A Good Verification of the Amenities

Yet another important aspect of an apartment is the amenities especially for ready to occupy Apartments in Kerala. When you visit ready-to-move flats, you get to see all the amenities in person that an apartment has to offer. This means you can verify the quality and suitability of the amenities before making your purchase decision. Additionally, having these amenities readily available enhances the overall livability and convenience of the property from the moment you move in, adding value to your investment and improving your quality of life.

Easy Loan Approval

The financial aspect plays a very crucial role in the home-buying process. Obtaining a loan can be a complex procedure, particularly when it involves purchasing a property that is still under construction. On the other hand, the process of securing a loan for a fully constructed flat is straightforward. This is because fully constructed flats carry a lower level of risk for lenders compared to properties that are still being built. As a result, the approval rate for loans on fully constructed flats tends to be higher.

Disadvantages of Ready to Move In Apartments

Limited Customizations

When considering a ready-to-move property, it’s important to recognize that although some level of customization may be possible, developers often limit the extent of flexibility compared to an under-construction property. This can be a disadvantage especially if you have specific design or layout preferences in mind that do not match with the existing features of the property.

Poor Negotiation

When considering a ready-to-move property, it’s important to understand that the price is fixed compared to an under-construction property. This means that the seller has already set the selling price based on various factors such as market conditions, property valuation, and associated costs. As a result, there may be less room for negotiation on the price or other terms of the sale.

No Scope for Appreciation

When you invest in a property that is completely constructed, its value might not appreciate over time. This means you might not make much profit if you decide to sell it later. So, if you’re buying a property hoping it will be worth more in the future, choosing one that’s already built might not be the best option for you.

High Cost

Ready-to-move properties are more expensive than the ones that are still being built. Builders here spend money to build the property, and they expect to recover the same over time. This can make it harder for some buyers to afford the property they want.

Ongoing Construction Projects

An “under-construction apartment” isn’t finished yet but can be bought. If you’re not in a rush to move, choosing an under-construction home can save you money.

Advantages of Ongoing Construction

Lower Price

One of the biggest advantages of buying a property that is under construction is that it costs less compared to the ones that are completed. This is because the construction process is still going on. As a result, developers may offer discounts, special deals, or other incentives to attract buyers and encourage them to make early purchases.

You Can Suggest Changes

When you invest in a property that is under construction, you get the freedom to personalize your home according to your taste and style, which is one of its major advantages. Unlike ready-to-move-in properties where everything is preset, ongoing building construction allows you to make modifications to tailor the space to your liking. You can address changes to the layout, materials used, fixtures, and finishes, ensuring that the outcome aligns perfectly with your vision for your dream home.

A Brand New Home

There’s a saying that an early bird catches a worm. The same thing applies here because when you buy an under-construction property you get a newer one. This usually means the property is in better shape and needs less upkeep compared to older ones. Such properties feature premium modern amenities that cannot be seen in older projects.

Investment Potential

Investing early in a project can yield significant future returns as development progresses and surrounding infrastructure improves. This appreciation in value can lead to considerable profits if you decide to sell the property later.

Disadvantages of Ongoing Construction

Prone to High Risk

Investing in a project that is still undergoing construction can be very risky. There are times when builders don’t finish the work as per schedule or even at all because of financial concerns or other issues like a rise in the cost of construction supplies or interest rates. This is one of the reasons why you need to get a good verification of the reputation of the builder before investing.

Tax Repercussions

Buyers often use loans to purchase homes, with tax benefits tied to these loans under sections 24, 80EE, and 80C of the Income Tax Act. For ready-to-move-in properties, these benefits apply upon possession. However, for properties under construction, tax benefits on interest paid are allowed in five equal payments starting from the year of possession. But here’s the twist if the homeowner moves into the completed building within three years of getting the loan, they can deduct up to Rs 2.5 lakh from the interest paid on a home loan for a self-occupied property.

Design Disparity

A common issue that arises with houses under construction is not getting what was promised when it’s time to move in. This might mean less space than expected, a different layout, or not enough amenities. This causes dissatisfaction among a potential homebuyer as they invest a great deal of time to get a perfect home.

GST Impact

If you’re buying a property that’s still being built, you’ll face a 5% tax on its cost. Paying stamp duty and registration fees separately can add up to a lot of tax expenses. But for affordable homes under Rs 45 lakh, there’s a lower 1% GST on the total property cost.

Factors to Consider While Choosing

Set your Budget

Before choosing, set your budget to determine the most suitable option based on affordability and long-term goals. This means looking at how much you can spend and how your choice will impact your plans and financial goals.

Consider the Timeline

You need to set a timeline when it comes to buying a property. Are you someone who wants to move into a new home soon? Then in that case, ready to move in apartments are the best. because you can move in right away without waiting for construction to finish. If you want rental income right away, a ready-to-move-in apartment lets you start renting immediately, maximizing your earnings. This is especially useful if you need rental income to cover expenses like loan EMIs or maintenance costs.

Personal Preferences of Ready To Move in Apartments

When deciding between a ready-to-move-in apartment and an ongoing construction project, it’s crucial to weigh various factors that contribute to your ideal living environment. One of the key considerations is the level of customization you desire. If having the ability to personalize your living space according to your preferences is essential, an ongoing construction project might be more suitable as it offers greater flexibility in design choices. Additionally, evaluate the location of the property and its proximity to essential amenities such as schools, workplaces, and recreational facilities.

Market Conditions

Before deciding between a ready-to-move-in apartment and an ongoing construction project, it’s crucial to conduct thorough research on the real estate market in your desired location. This involves assessing factors such as demand, pricing trends, and the potential for property appreciation. By understanding the current market conditions, you can gain insights into whether the property you’re considering is a sound investment choice.


Decide between ready to move apartments or properties under construction based on your priorities. Weighing the pros and cons will help you make the right choice. At Confident Group we understand your vision and build projects that are just like you imagined. Because every individual envisions to live in a space of their dreams.

Author - Webdura


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