Ready flats vs under-construction properties: Which is better?
A ready-to-move flat is an apartment that is already constructed and ready to live in. It has all the necessary facilities. No additional changes or improvements are required. On the other hand, an under-construction flat is the construction work of which is still ongoing. It generally gives the option of customization usually sold at a low price before the completion.
Ready flats vs under-construction properties: Which is better? This question usually comes to mind for all buyers. Experienced say, Both buildings have their pros and cons, and it's all based on what you need and prefer. Thus, dive into the blog to know all about it.
What are ready to move & under-construction properties?
Ready-to-move flat
Ready-to-move properties are fully built homes ready for immediate occupancy. It offers a hassle-free option for buyers seeking convenience.
Under-construction properties
Under-construction properties are homes that are still being built and usually cost less. It allows some customization but requires waiting until they are completed.
Comparison between ready flats vs under-construction properties
The real estate market offers two primary types of flats: ready-to-move-in and under-construction flats. Each type has its own set of benefits and challenges, which can influence a buyer's decision.
| Aspects | Ready flats | Under-construction properties |
|---|---|---|
| Price | The prices of these flats are comparatively high, as they can be moved into immediately. Also, there are no risks associated with construction. These are available for immediate occupancy. | The prices of these flats are low. Because there are some construction risks and there may be delays in handing over the flat here. |
| Possession time | Buyers can take possession of ready flats after payments immediately. They don’t have to worry about it. | In under-construction properties, buyers can’t take the possession immediately. They have to wait until completing the apartment. |
| Customization | Customization options for ready-to-move-in flats in Bangladesh are limited. Significant changes are costly and often not practicable. | Under-construction flats offer flexibility in finishes and layouts. However, delays are common due to labor, political, or financial issues. |
| Risk of delays | When you buy a ready flat, you will not have any risk of delays. Just you have to complete the payment. After completing the payment, you can take possession. | A common problem in under-construction flats is delaying handover. So, buyers always have to be in tension about it. There are few developers who hand over flats on time. |
| Project completion | There is no chance of project rejection. Because these are already ready. After completing the buying process, you can start living. | Under-construction means the construction work is going on. If any problem like financial, the project can be rejected. As a result, it becomes difficult to get back the money that has been paid. |
| Quality assessment | When you buy a ready flat, developers will describe to you everything. Hearing this description, you have to decide to buy a flat. | When you invest in an under-construction flat, you have an opportunity to monitor the construction work. You can suggest to developers if you want. |
Advantages of ready apartments
Ready apartments offer numerous benefits, making them an attractive choice for many buyers. These provide immediate possession and a hassle-free experience.
- Immediate possession: Buyers can take possession of the ready flat immediately. There is no hassle to meet developers repeatedly to gain possession.
- No construction risks: Here, the apartments are fully built. All the responsibilities are with the developers. So buyers don't have to worry about the construction work.
- Fully functional: All amenities, utilities, and finishes are already in place. So you can move in without any extra work or costs.
- Clear investment value: The property’s condition and value are clear. This makes it easier for you to make an informed decision.
- No hidden costs: There are no hidden costs related to construction in ready-flats. Everything is already completed and ready for you to live in.
- Established neighborhood: Ready apartments are typically located in well-developed areas. These areas have established infrastructure, including schools, hospitals, and transportation.
Important things to keep in mind before buying a ready apartment
Before buying a ready apartment, it's essential to consider several factors. This ensures the property meets your needs and expectations.
- Verify legal documentation: Ensure the property has necessary legal approvals, such as ownership and title certificates. Verify completion certificates.
- Inspect the property: Thoroughly inspect the apartment for structural issues and plumbing. Check the electrical systems and overall maintenance.
- Check the builder’s reputation: Research the builder’s track record for delivering quality in previous projects.
- Assess the location: Consider the apartment’s proximity to essential services like schools, hospitals, transport, and shopping centers.
- Review amenities: Ensure the apartment includes all promised amenities, such as parking, security, and recreational facilities.
- Understand the maintenance costs: Ask the seller about monthly maintenance fees. Also, discuss whether there are any other costs.
Invest now!
Assure Group is a leading real estate company in Bangladesh. We construct buildings with expert and experienced team members. We have already completed many residential and commercial projects in Uttara, Aftabnagar, and Bashundhara. If you plan to own a luxury and ready flat, Call us at +8809612-008800. We are committed to handing over a hassle-free flat.
Frequently asked questions and answers
Ready flats have some benefits. Such as immediate possession, no construction tension, and no opportunity to delay handover. On the other hand, the prices of under-construction flats are comparatively low. But here are construction risks and fear of delay in handing over the flats.
