Benefits of choosing a ready-to-occupy apartment in kakkanad

The purchase of a home is a crucial milestone and a decision that warrants meticulous consideration. Given that homes are considered long-term investments, it is essential to ensure that you select a residence that best suits your needs and those of your family. Among the numerous choices in the real estate market, ready-to-move apartments emerge as a particularly advantageous option due to their convenience and benefits, especially in a city like Kakkanad. Purchasing ready-to-occupy apartments in Kakkanad has emerged as a highly favored investment option in Kerala, primarily because of the consistent connectivity it provides to the city's residents. Ready-to-Occupy apartments are increasingly sought after today, as they offer numerous advantages for homeowners.

WHAT ARE READY-TO-OCCUPY APARTMENTS?

Ready-to-occupy apartments refer to flats that have been fully completed and are available for immediate move-in. This signifies that all construction work has been finalized, and the apartment is equipped and prepared for use. Such apartments typically come with all the modern amenities and fixtures necessary, thereby removing the need for additional setup or waiting periods.

BENEFITS OF READY-TO-OCCUPY APARTMENTS

Apartments that are available for immediate occupancy provide a variety of important benefits.

• No Waiting Period

Investing in ongoing projects often requires a longer wait than anticipated, primarily due to a variety of factors. In contrast, purchasing a ready-to-occupy apartment eliminates this waiting period. Buyers can directly inspect their apartment, bypassing the need to rely on brochures to visualize the final outcome. This means that one can move into their apartment at their convenience, avoiding the frustrating delays typically associated with pre-launch properties.

• No Hidden Charges

Choosing ready-to-occupy apartments presents the notable benefit of no extra charges. This is because all necessary services are organized beforehand, resulting in a quoted price that reflects the total cost. The assurance that the amount paid upfront will be fully utilized aids in the budgeting process and provides a sense of reassurance.

• Low Risk

The property you intend to purchase is readily available and has been completed promptly, allowing you to approach your decision with confidence and tranquility. In contrast, other properties may take years to finish, often resulting in a mere representation of what was initially presented at the time of your commitment. Additionally, there is a risk of encountering fraudulent offers, where the entire building may not be completed within the promised timeframe or may remain unfinished altogether. A home that is ready for immediate occupancy mitigates these concerns, thereby reducing the associated risks.

• Tax Benefits

When compared to apartments that are still being built or newly introduced projects, a ready-to-occupy flat in Kerala provides certain tax benefits. According to the Income-tax Act of 1961, tax benefits for homebuyers can only be claimed once the property is completed and possession is granted. Although homebuyers can claim interest on a home loan during the construction phase in five equal installments after possession, any delays in construction can significantly diminish the maximum deduction available for interest payments. Additionally, the principal amount repaid during the construction period is not eligible for any deductions. Furthermore, under-construction properties are subject to a 12% Goods and Services Tax (GST). In contrast, ready-to-occupy apartments do not incur any GST, thereby increasing their attractiveness.

• Physical Inspection

One of the primary benefits of ready-to-occupy apartments is the ability to personally examine the completed property before finalizing your purchase. This practice mitigates any potential surprises and provides reassurance regarding the quality of construction and the amenities offered.

• Cost Savings

Apartments available for immediate occupancy provide a transparent pricing framework with no undisclosed costs. In contrast to properties that are still under construction, which may lead to additional financial burdens, the price of a ready-to-occupy apartment is usually all-inclusive. This transparency facilitates informed financial decision-making for homebuyers. Moreover, investors can commence earning rental income without delay, thereby increasing the property's financial attractiveness.

• Ease Of Loan Approval And Repayment

Apartments that are ready for occupancy carry a low risk factor since their construction is completed, offering immediate reassurance to homebuyers who depend on loans for their purchases. Once your credentials and eligibility are confirmed, you may be able to secure loans at lower interest rates, particularly if you are partnering with a well-established builder. Such ready-to-move-in apartments simplify the repayment process, enabling homebuyers to take possession of their homes promptly and repay the loan in a manner akin to paying rent.

• Better Resale Value

Properties that are move-in ready generally possess a higher resale value than those still under construction. This is attributed to the fact that buyers are often prepared to pay extra for the convenience and assurance that comes with a fully completed home.

• Purchase Within The Decided Budget

In the case of ready-to-move flats, you can opt for a property that fits your budgetary constraints. Ownership is acquired instantly upon payment of the required price for the apartment. This is in contrast to properties that are still under construction, where the cost may increase.

• Get To Know Your Neighbourhood

Purchasing a move-in ready home allows you to become acquainted with the local environment and your potential neighbors. This opportunity enables you to confirm that you will have amicable and supportive neighbors. Additionally, you can verify the availability of essential amenities such as transportation, healthcare facilities, educational institutions, and recreational areas.

• Fully Functional Amenities

Another significant advantage of ready-to-occupy apartments is that their amenities are entirely functional and ready for immediate use. Consequently, if you intend to install any fixtures, lighting, or appliances, you will not need to worry about it. The move-in process will be seamless and free of complications, as everything has been pre-arranged for you. This convenience means you can bypass the time-consuming task of setting up the modern comforts and amenities that are generally preferred.

CONCLUSION

Ultimately, apartments that are ready for immediate occupancy provide various advantages over those that are still being built, rendering them a popular selection for purchasers who appreciate convenience, assurance, and a sense of security.