A plethora of benefits accompany when investing in a pre-launch residential project in Trivandrum.
Of course, the primary benefit will be a monetary one with early bird huge discounts, additional features and customization, and easy EMI schemes. Read on to know other benefits you can expect.
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What is a Pre-launch offer?
Pre-launch is such a common term in real estate. You might have heard a lot about the various advantages of pre-launch from your friends, relatives, and realty experts.
However, if you are wondering what exactly is a pre-launch, how it works, and how it benefits the builders as well as the buyers.!
Pre-launch is ideally the time when a project’s approval processes are still in progress.
At this phase, builders make an announcement about the project proposals and start the sale for the same.
A developer takes advantage of the digital medium to launch a property project like emailer, social media campaigns, or simply by word-of-mouth.
The developer might also put the word out among investors about the new proposed project inviting them to buy some units at attractive prices.
Early Bird Discounts
One of the biggest advantages of investing in new launches is the wide range of early-bird discounts you can avail of.
Real estate projects, in general, happen in phases.
Builders during this time offer attractive prices or special offerings during this phase.
When compared with the project that is in the ongoing construction phase or ready-to-occupy, the prices are much higher.
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.
Additionally, the demand of the property increases at the development phase.
Buying a property with a reputed builder or developer is usually a safe option when buying at the newly launched stage as the builder will be ready with all the required legal permissions
Additional Features and Customization
When you invest early, you get more choices in terms of features and customization.
Moreover, homeowners can also get the interiors of their apartments personalized as per their tastes.
At times, you may request the developers to make some minor changes in designs.
When the project is under construction, it becomes easier to make these changes or incorporate certain additional features.
Once the apartments are already constructed, it becomes difficult to alter the designs.
When you purchase the properties at the later stages, chances are there that you will not be able to get the apartments offering the best views.
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 yourself of 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.
Another big pro to buying during a Pre-launch would be the value advantages, the choice to pick out your most popular unit is one more advantage.
You’ll be able to build alternative supported factors just like the most popular orientation or proximity to bound project amenities.
Once the pre-launch, all remaining units were opened to the market throughout the launch. Hence, your decisions become affected.
By getting in pre-launch, you’re investing in an exceeding property that’s still some years aloof from relinquishing.
There’s a differential quantity to be paid in several phases until the project relinquishes.
The initial down-payment to book associate degree living accommodations or villas in pre-launch is simply nominal.
This may give you ample time to prepare your finances.
One when we talk about the ROI There is an enormous potential for appreciation of property costs if the purchased property lies in a locality that’s presently underdeveloped with a possibility for fast development.
Investors searching for investments with giants coming back on investments will give you multifold returns.
While the benefits attached to purchasing property in pre-launch are quite rewarding, as a home buyer or investor, you need to be cautious when buying a property in pre-launch.
If you are looking to purchase a pre-launch property for investment and resale purposes, then you need to make sure that all the documents are in place.
It is important to trust the right Channelling Partners and builders.
A thorough background check of both would go a long way!
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.
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