In our modern society there is absolutely no confusion that everyone wants to buy a house, a dream home which they can call their own. But one of the main questions that confuse the first-time home-buyer is whether he/she should buy a ready-to-move-in house or make a booking in an under-construction project. Well, they both have their own positives and negatives.

As the name explains, an under-construction property is one that is still in the development and finishing process and is not fit for immediate moving in. Here the main issue related to the under construction projects is the delay in completion of the construction. These projects may be delayed due to many reasons, the most prevalent are those related to financial consequences and litigation problems. But in case of ready to occupy properties, you do not have to suffer the risk of delay. You get immediate value for money if opted for trusted property owners or builders.

The actual financial implications of the ready to move in properties are better than those of under construction. What is even appealing is that when you immediately move into your new house, you can get rid of the rent payment process at once. But in case of under construction properties you will have to pay the installments along with the rents which become very much unbearable for a middle class homebuyer.

Another important element along with the rent saving factor of ready to move in properties are that they also offer some of the benefits in the income tax segment. If in case you have taken housing loan for a residential property, the interests for the years before taking final possession of the house can be claimed in 5 equal installments starting from the year of possession. You can also get the benefit of claiming this amount if you immediately shift to your new home.

While considering all the above mentioned valid points, the final conclusion is that however if it’s mostly from living purpose and you want to consume it for your own purpose, buying a ready to move house makes all the sense.

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