Buyers of residential properties in Mumbai while searching for their dream home face the dilemma of whether to invest in a used property or in a new residential project. Of course the idea of living in brand new property where no one has ever lived before is exciting, but there are ways to find out if investing in new projects in Mumbai is the best option for you.
Ask yourself what are your family's expectations from the new home. The decision to
buy an apartment in upcoming residential property can be validated against your family's priorities.
Preference for latest designs and elevations New real estate projects are thoughtfully planned and designed to give better living experiences and make homes aesthetically attractive. They are designed to support the trending lifestyle demands and energy efficient mechanics at the time of construction. Mumbai being the financial capital of Mumbai demands such accelerating features especially in the luxury segment. In 2016, growth in this segment is expected to increase with Mumbai developers coming up with more of such contemporary residential buildings.
Access to lifestyle amenities at home Different families have different reasons for changing homes like proximity to work place or schools, to upgrade lifestyle or simply to move to the desired neighbourhood. When the change is lifestyle driven, then easy access to amenities becomes a priority for the family. Mumbai in 2015 has seen many new developments especially in luxury segment where these amenities like swimming pool, health club, yoga deck, multisport court etc are accommodated in the residential complex.
Minimize customizations after taking possession New upcoming constructions offer the advantage of letting the buyer do some customizations. It means that you can get your preferred colour for walls, favourite type of flooring, etc
while the new house is getting ready. In fact, some developers involve the future residents in planning phase and accommodate structural modifications as well.
Staying repair- free for at least few years Best advantage of moving into a new property is that plumbing, drainage, wiring, etc all being new remain repair- free for at least a few years. Even if there is a need for it, for initial years it is mostly under warranty by the builder and is taken care of by them.
Need for easier payment structure This is one of the most common reasons why many buyers go for under construction property because they mostly have construction linked payment plan. For example, as per standard practice in Mumbai in India, it's 20% of cost within 30-45 days and balance is payable over the period of project in equally distributed manner. To attract customers for new projects, real estate builders are also offering easy payment plans like 20:80, 10:80:10 etc. In these schemes buyer pays stipulated upfront payment and the balance is payable on possession.
Conclusion Decision to invest in an upcoming or new property must be based on what your family expects from the new home. When the reason of moving is lifestyle driven, then new projects in Mumbai with their contemporary design, modern architecture and amenities are good option. Even easy payment structure offers a huge advantage to home buyers.
Source : articlesbase.com
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