A common trend in the real estate industry is that most property buyers ideally want to invest in their dream homes in the “new launch” phase. They look out for developers advertising a new proposed project through the medium of digital media or even word of mouth so they can be early movers.
Investing in this phase that precedes construction offers them a plethora of benefits. The most important is the price advantage that is always lower than completed or ready-to-move-in homes. They also enjoy the early bird advantage of choosing the specifications of the property once they narrow down on the unit they are investing in. Hence, booking is considered a safe option at this stage because the developer is ready with all legal sanctions in this phase.
Let us decode some other factors why this “new launch” period is so attractive for buyers.
Enjoy the benefits of initial discounts
One of the most significant advantages of investing in new launches is the wide range of early-bird discounts the buyers can avail. A minimum of 10-15% discount is offered at the initial launch. In most cases, homebuyers can save up to 30% of the total cost of the property.
Avoid the price hike
The demand of the property increases at the development phase. This automatically results in the property rates escalating northwards. Typically, the builder hikes up the price based on sales or based on the completion of projects in the locality. Booking any property at the new launch stage thus insulates the buyers from the price surge.
Opportunity to customize
If one is opting for a completed project, chances are less that you will get the liberty of choosing an apartment that offers your preferred layout or even the best view. But in the “newly launched” stage, the buyer can very well be spoilt for choice and take his final decision based on which dwelling unit best suits his requirements.
Additionally, the prospective home buyer may desire to opt for a customized interior layout or even impose minor changes in the design, all of which is possible in the new-launch phase. The good news is you can get all these customizations done within your budget!