The Advantages Of Buying Real Estate During Its “New-Launch” Phase!
Buying 2BHK or 3BHK flats in Vizag during its "new-launch" phase can offer several advantages for investors and homebuyers. This stage refers to the initial release of properties in a development project, often accompanied by promotional offers.
A new launch or new phase is a common term used for the indication of starting a new project in the market. Investors show much interest in new projects because they will get the maximum advantage in pricing when compared to completed or ready-to-move-in homes. Even if you are looking to buy in a particular locality, it is recommended to search for newly launched projects in that area.
However, if you are not able to move to the location where the project construction started, instead you can invest by purchasing the flats (2 BHK or 3 BHK) in Vizag so that you can rent the flat and get a monthly income in the form of rent.
KEY BENEFITS OF PURCHASING REAL ESTATE DURING THIS PHASE
Early Bird Discounts:
One of the primary advantages of buying real estate during the new-launch phase is the opportunity to avail of early bird discounts for 2BHK flats in Vizag. Developers often offer attractive pricing to entice buyers to commit early. These discounts can range from a percentage off the purchase price to waived fees or free upgrades. By taking advantage of these discounts, buyers can secure 2BHK or 3BHK flats in Vizag at a lower cost, potentially resulting in significant savings.
During the pre-construction phase, builders will offer attractive discounts on the cost of the flat to encourage investors to purchase 2BHK or 3BHK flats in Vizag before construction starts. This type of offer is exclusively available during the pre-launch phase.
Choice of Units:
During the new-launch phase, buyers typically have a wide selection of flats from which to choose a 2BHK or 3BHK flat. This includes 1st-floor or top-floor flats, sea views flats, gardening areas, and most preferable east-facing or north-facing 2BHK or 3BHK that will be available for sale in Vizag. By being an early buyer, you have a higher chance of securing the flat that best suits your preferences and needs. This choice of flats decreases as the project progresses and flats get sold out, limiting options for latecomers.
Potential for Capital Appreciation:
Real estate prices tend to increase over time for approved plots in Vizag, especially in growing and desirable locations. By purchasing during the new-launch phase, you position yourself to benefit from potential capital appreciation as the project develops and the surrounding area improves. As the demand for development increases, the value of your 2 BHK flats in Vizag can rise, providing a profitable investment opportunity in the long term.
Customization Options:
Top real estate developers in Visakhapatnam offer customization options for buyers who purchase during the new-launch phase. This allows you to tailor certain aspects of the property to your liking, such as selecting finishes, and fixtures, or even making minor layout modifications. Customization options can enhance the overall appeal and functionality of the property, making it more personalized to your preferences.
Customize the 2BHK flat designs according to your specific needs by regularly visiting the project site. You can make corrections in the spacing of the kitchen area, the fitting of floor tiles, sanitary fittings, and wooden work according to your family's preference.
Modern Amenities and Facilities:
New-launch developments often boast modern amenities and facilities designed to enhance residents' lifestyles. These can include swimming pools, gyms, landscaped gardens, children's play areas, and communal spaces. By purchasing 2BHK or 3BHK flats during this phase, you gain access to these facilities from the beginning, allowing you to enjoy the full range of amenities and experiences offered by the development.
Warranty and Maintenance:
Buying during the new-launch phase usually means that you are the first owner of the property. This translates to the benefit of a warranty period, during which the developer is responsible for any defects or issues that may arise. Additionally, new properties generally require less maintenance in the initial years as they are built with the latest construction techniques and materials. This reduces the likelihood of immediate repair or renovation expenses.
Rental and Income Potential:
If your intention is to generate rental income, buying 2BHK or 3BHK flats during the new-launch phase provides an early advantage. As the property nears completion, you can start marketing and securing potential tenants, maximizing your rental income from the earliest possible stage. By the time the development is fully completed, you could already have tenants in place, ensuring a steady stream of income.
Developer Reputation and Track Record
The reputation and track record of the developer plays a crucial role in the success of a real estate investment. If you intend to buy a 2-bedroom flat during the new-launch phase, you have the opportunity to research and assess the developer's previous projects, their quality, and customer satisfaction levels. This information helps you make an informed decision and choose a reputable and top real estate developer in Visakhapatnam known for delivering high-quality properties.
In conclusion, purchasing or investing in 2 BHK or 3 BHK flats during its new-launch phase offers several advantages. These include early bird discounts, a wide choice of units, potential capital appreciation, customization options, modern amenities, warranty and maintenance benefits, rental income potential, and the opportunity to work with reputable developers. However, it is essential to conduct thorough research, due diligence, and financial planning before making any real estate investment decision to ensure it aligns with your goals and objectives.
Honeyy Group is one such builder who is the top real estate developer in Visakhapatnam with 17 branches all over three states (Andhra Pradesh, Telangana, and Karnataka) with 100+ own projects and 5000+ satisfied customers. With this strong base in the real estate industry, Honeyy Group is now launching a new and big project in Atchutapuram consisting of 1000 flats, each with 1000 sq ft, which is now ready for construction. It’s time for investors to grab the opportunity to avail themselves of the early bird discounts. For more information, please visit our website at www.honeyygroup.com. You can also contact us at 7610666999.
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