Pre-launch simply refers to the period when any real estate property is announced but is yet to be officially launched. Though the building is still under construction & doesn’t have final approvals, many developers make it open to buyers & investors for obtaining funds prior hand.
However, some people tend to avoid buying real estate properties during their pre-launch phase & see it as a risk, which is obvious. But this is why Risk Hai Toh Ishq Hai! Every uncertainty has many golden opportunities wrapped in it, just as properties with pre-launch stages have.
If you are in the decision-making process of whether to buy a home or any real estate now that it is in its pre-launch phase, here are some perks that will blow your mind.
1. Jaw-dropping Deals & Discounts
The key advantage of buying real estate in its pre-launch phase is the surreal deals you can instantly unlock. A homeowner can avail of up to 30% concession on his property which is a huge achievement in today’s growing market. This way, you will have easy access to such profitable discounts amidst extravagant metropolitan cities but only if you choose to seal the deal at the earliest.
2. Speediest Return On Investment
Purchasing real estate in its pre-launch phase allows us to gain the best return on our investment in no time. We can avail of the price escalation that suddenly trickles after the pre-launch. The prices are likely to rise as soon as the building is up for possession. So, if we immediately plan to re-sell the property, we can make incredible returns.
3. Scope for Customization
The properties in the pre-launch stages have a scope for customization according to individual preferences. The buyer can design the space as he wants & bring interior modifications until the building is in its initial stage. You can make your own choices regarding the floor, unit, view & direction, etc. Later, it becomes difficult to make changes once the building is thoroughly constructed.
4. Preferential Selection of Units
When you buy a property during its pre-launch phase, you welcome a good possibility to claim the unit of your choice. At this stage, the homeowner has multiple options available for him about choosing an area/apartment. While you can’t have so many alternatives once the property is made open for all. In the pre-launch phase, a buyer remains free to pick the best suited for himself by scrutinizing all the basic aspects such as sunlight, view & ventilation.
5. The Crown Benefit
Along with the tax benefits on a mortgage, you can effortlessly land your dream home. Many builders & developers offer “No EMI till possession” in the pre-launch phase which can turn out to be an ultimate blessing for customers. Initially, you would just have to pay 20-25 percent of the entire property value which is again a fruitful proposition to not miss out on.
6. Securing property before Market Appreciation
The other most important reason why you should buy real estate during its pre-launch phase is the inflation in price that occurs along with the MAHARERA certification of the project. This is a relatively common occurrence in the real estate industry. However, there are also a few other factors responsible for market appreciation like lead expenses, raw material costs, soaring demand for housing properties, etc. So, investing in real estate at its pre-launch stage can save you a large amount of capital which you can later utilize for your future expenses concerning your property such as registration & interior designing. Buying Real Estate before its official launch can be a very smart strategy if you meticulously proceed with all the precautions & verifications.