Know The Pros & Cons of Buying Ready-to-move-in Properties

Buying secondhand properties in Dhaka has seen an upward trend now in major cities of Bangladesh. Due to inflation and recent global economic troubles the price of construction materials and real estate has skyrocketed. As a result, it is now more expensive to build your own home or buy a new apartment from developers. Any person looking to invest in real estate would therefore look into secondhand properties for this reason, but there are plenty of other reasons why people are more interested to buy ready-to-move-in properties now. This article will give you a detailed insight into the matter.

 

Pros: Start Living Immediately

A major reason for the popularity of ready-to-move-in properties is that once the entire payment is complete you can move in without hassle or extra formalities. Nowadays, people sell fully furnished or semi-furnished apartments too. So, if you are done with the paperwork and payments you can start living in such apartments as well, without going the extra trouble of buying furniture. Using the bti Brokerage website or by calling our agents you can easily check out plenty of ready-to-move-in properties across thousands of locations in Dhaka and Chattogram. We also offer home loan options in association with our partner banks and institutions. 

 

Pros: Clarity in Paperwork

Another advantage of buying ready-to-move-in property is that you are paying for something that you saw with your own eyes. Usually when you choose a real estate developer to buy an apartment, the features and amenities of the residence are subject to change before handover of the project. You will have to wait for a few years before moving into the property. All this is plausible only if the developer is trusted and known to handover homes on time. There are many cases of real estate fraud, where customers have been swindled off their hard earned money and got no property in their name. With a ready-to-move-in property you will not have to face any such issues because you are buying what you are seeing. These properties have up-to-date paperwork which you can easily check before buying. It is still a good idea to verify all documents with our experts from bti Brokerage just so that you can stay on the safe side.

 

Pros: No More Renting

Living in rental properties is not something people usually want for life. Sooner or later, you would want to live in your own home, a home you invested in with your heart and hard work where your family can peacefully live. By purchasing a ready-to-move-in property you are securing the future of your family instantly. You will not have to deal with the demands of homeowners and pay rent to live in someone else’s home anymore. A one-time lifelong investment in a ready-to-move-in property also means that you can save on money that would otherwise go to paying rent. 

 

Pros: Smart Investment

Owning a property makes room for more investment opportunities. Once you own a ready-to-move-in property you can rent it out to ensure steady monthly income or you can sell it later at a convenient, or possibly higher price. Buying a ready-to-move-in property ensures that you pay all money right away, so changes incurred by inflation will not affect you. Usually, during inflation developers can increase prices of their ongoing projects to cover their expenses. 

 

Cons: Little Flexibility in Payment

When you have set your mind to buy a ready-to-move-in property there is very little wiggle room for flexible payment or negotiations. You will have to pay the full money before moving in. However, many financial institutions and banks do offer home loan facilities for such properties. Talk to bti Brokerage because we can find you these amazing options very easily.

 

Cons: Less Scope of Modification

The layout of a ready-to-move-in property cannot be changed. You also cannot change the appearance of the building but you can refurbish the inner space of your purchased apartment. Refurbishing and other maintenance and repairs can become expensive depending on how much you are willing to renovate. Therefore, it is a good idea to get self home inspection done before buying, but a hired agent will better inform you about necessary changes that you may not have given much thought about. bti Brokerage offers free home inspection for anyone willing to become a homeowner. 

 

Cons: More Paperwork May be Necessary

Even after completion often times ready-to-move-in properties have legal disputes. It could be due to inheritance troubles or paperwork issues from the seller’s end. Unless their problems are not solved you will not be able to buy the property and be the legal homeowner. Therefore, more paperwork and more time may become necessary before your right is established in the property.

Now that you are aware of the pros and cons of buying ready-to-move-in properties you can easily start the process if you are willing to. Your ability to buy will depend largely on your future plans, current financial situation, preferences, and family needs. If you need to consult thoroughly with a trusted agent before buying a new home, bti Brokerage is just a call away. Call 16604 or Whatsapp: +8801755662414 to talk with our reliable agents.