Choosing Between Ready-to-Move and Under-Construction Properties in Mohali

Mohali, located in the vibrant state of Punjab, is one of the fastest growing cities of India. Its strategic location, excellent infrastructure and burgeoning real estate market have made it a hotspot for property investors and homebuyers. When considering a property purchase in Mohali., one of the key decisions you will need to make is whether to opt for an under construction property or a ready to move one. Both options have their advantages and disadvantages and making the right choice depends on your individual preferences, budget and requirements. 

Under Construction Properties 

Under construction properties are those that are still being built or are in various stages of construction. Here are some factors to consider when thinking about buying an under construction property in Mohali. 

1. Cost Savings – One of the primary advantages of choosing an under construction property is the potential cost savings. Developers often offer lower prices during the pre construction phase or at the launch of a project. 

2. Customization – Buying early in a project allows you to have a say in the layout, finishes and other aspects of the property. You can customize it to suit your preferences. For example, JLPL, one of the best real estate developers of Mohali provides a wide variety of options of customization. One looking forward to buying a property they can customize according to their own taste and preference must look at JLPL’s Falcon View flat prices. 

3. Appreciation Potential – If the property market in Mohali is expected to grow, buying an under construction property can yield significant appreciation in value by the time the construction is complete. 

However, there are some challenges associated with under construction properties. 

1. Delays – Construction projects can face delays due to various reasons, such as permitting issues, labor disputes, or unforeseen circumstances. This might result in a longer wait for possession.   

2. Uncertainty – There can be some uncertainty regarding the final product. You might have to rely on a developer’s promises and marketing materials, which may not always align with reality. 

3. Financial Commitment – You will need to manage home loan EMIs while paying rent for your current accommodation during the construction period. 

Ready to Move Properties 

Ready to move properties, as the name suggests are those that are already built and available for possession. Here is what you should consider when thinking about buying a ready to move property in Mohali. 

1. Immediate Possession – One of the most significant advantages of ready to move properties is that you can move in right away. There is no waiting period or uncertainty. 

2. Verified Quality – Since the property is already constructed, you can physically inspect it and assess its quality before making a decision. 

3. No Rental Expenses – With a ready to move property, you won’t have to bear the additional cost of renting another place while your property is under construction. 

However, there are some downsides to ready to move properties. 

1. Higher Cost – Ready to move properties are often priced higher than under construction ones. You may need to have a larger budget to afford these properties. 

2. Limited Customization – You might have limited scope for customization in a ready to move property. You will have to live with the existing design and finishes. 

3. Lower Appreciation Potential – The potential for property value appreciation might be lower compared to an under construction property. 

Conclusion 

Choosing between under construction and ready to move properties in Mohali ultimately depends on your specific needs and preferences. If you are looking for immediate possession and are willing to pay a premium, a ready to move property might be the right choice for you. On the other hand, if you are more budget conscious and open to some waiting, an under construction property could offer better cost savings and customization opportunities like JLPL’s prestigious project Falcon View Mohali. Before making a decision, it is essential to conduct thorough research, evaluate your financial situation and consider long term goals.