Every individual has a vision of what his dream home should look like. The number of rooms, the area per square feet, the locality, and the amenities available in the locality are a few of the obvious concerns when one sets out to purchase a home. That property investment is a life-long investment is a known fact. It is therefore essential to do a thorough research about the real estate agency from whom you choose to purchase your property. Many of us refrain from buying ready-to-move-in flats because there is little scope to make any changes or have some customizations done as per our requirement. Perhaps, this is why more and more people in Mumbai prefer to invest in under construction projects in Thane.

Irrespective of this, it does not matter whether you want to invest in a ready-to-move-in apartment or under construction property; here are some traps a lot of buyers tend to turn a deaf ear to.

1.    It is of paramount importance to get everything in writing when you are buying a flat. As a potential homeowner, ensure you do not make the mistake of signing on everything without reading it. Ensure everything is agreed and negotiated before you sign on the dotted lines. If you are planning to invest in an under-construction property, then talk with the builder to understand timelines regarding project completion, possession period, repercussions in case of inability by the realtor to honour the commitments etc. Ask as many questions you can, but, ensure the answers are in a written format.

2.    The property or apartment will be purchased from a builder, and hence it is important ensure that the builder has clear records. For the same, you might want to ask around, get in touch with the builder’s former clients, know if the project was delivered on time, and so on. In short, ensure the builder you plan to consider for new projects in Thane or any other city, is trustworthy. Builders like T Bhimjyani Realty, Piramal Realty, Lodha Group etc., are reputed names in the real estate industry.

3.    As a potential homebuyer, it is important you ask for the commencement certificate of the floor. This certificate plays a pivotal role in case the construction is not done on time. Say for example, if the apartment you booked for is on the 10th floor, but the construction is completed only till 5th floor, then asking for this certificate proves beneficial.

4.    Another vital aspect that cannot be neglected when investing in new residential projects in Thane and around is asking for the construction’s project drawing copy. This majorly includes duly stamped documents by the authorities, floor plan and so on. Apart from this, also check if the builder has the ownership of the land where the construction is going to take place.

When it comes to buying a home, there are a lot of deliberations and decisions that one needs to make. First it begins with selecting the locality. Then you have to understand if there is scope for the locality to evolve in the future for your investment to prove profitable. If you are lucky enough to find a locality of your choice, you must decide whether you would prefer a ready-to-move-in apartment or one that is under-construction. If you’re planning to buy a home in Mumbai, it is advisable to opt for any of the under construction projects in Thane as they come with a host of lucrative benefits. Here are some aspects you should take under consideration to facilitate purchasing such properties.

Under construction homes tend to sell quickly

Several potential home-owners prefer to invest in an under construction project because there are many benefits of entering the real estate market before the project is completed. One of the major reasons is that these properties are affordable as compared to ready-to-move-in apartments. Besides, they work for the benefit of buyers who have no intention of moving in too quickly. In order to attract potential buyers, a builder or company will build either a model home or a sample flat and review the floor plans. This gives a clear idea to the buyer of what the home would look like.

Buyers get to choose the apartment of their choice

When it comes to a ready-to-move-in flat, you generally have a limited number of options such as the floor or the facing of the apartment. Sometimes you have to make a few compromises with a ready-to-move-in apartment, where you may not be able to dictate the terms of your requirement to the ex-owner. But with under-construction projects, if you enter the market early on, you can choose your floor, the apartment facade, and can even dictate terms for how you’d like your house modelled. Under construction projects in Thane are customizable if the builder has not yet begun work on your apartment.

Early buyers get apartments at best rates

You will find a lot of dealers and companies tend to have this policy of “first come first serve”. So, if you fall into this category, you stand to get an apartment at lowest rates possible. An early investor can get a variety of discounts or reduced rates per square foot and so on. Some builders also provide early-bird investors with a few free items like DTH providers, geysers, club house memberships and other necessary amenities. You can grab this amazing opportunity when it comes to buying new residential projects in Thane. As the rates are much more affordable when a project is just commencing, you can make the most of the opportunities at hand.

As a buyer, you are bound to get confused when it comes to buying a house. There are a number of factors that need to be considered. While you are searching for an apartment, you have two options to choose from – you can choose a ready-to-move-in property or one that is under construction. As a home buyer, you need to be really careful when making a purchase. After all, it is a long-term investment and should be done with care. With the ever-increasing under construction projects in Thane, it has become easier for buyers to make a purchase.

However, before you make a purchase, you are bound to wonder whether investing in an under-construction property is a good option. Here are some factors worth considering.

Under construction homes tend to get sold quickly

Not many know this, but a builder already has both, the sales process, and the construction mapped out. In short, it means the builders or real estate companies try selling the houses or apartment as quickly as possible. In fact, a lot of buyers prefer investing in under construction or new projects in Thane and around, for they are affordable. Besides, they work for the benefit of individuals who do not plan to move-in anytime soon. To attract potential buyers, a builder will build a model or sample flat and review the floor plans, fixtures and finishes so that buyers can get an idea of what their new home would look like.

Early buyers get apartments at best rates

You will find many real estate companies that want to get some homes under contract. In fact, announcing the same to potential buyers ensures it as desirable to future homebuyers. As the flats are just ready, real estate companies tend to offer them at best rates. You can grab this opportunity if you are buying new residential projects in Thane for investment purposes. As the rates are affordable, you can make the most with the new or under residential construction projects.

Buyers get to choose the apartment of their choice

A lot of buyers have to settle for apartments that are available. However, it is the not the same with new or under construction projects. As it is an under-construction property you can choose the floor and the apartment of your choice and have it finalized in your legal deed. However, ensure the apartment you have chosen is not already booked. As a buyer, do not forget to inspect the whole construction site before making the purchase.

These are some of the vital things every home buyer needs to know about if you wish to invest in under construction projects in Thane or around.