4 Reasons you should buy a property during its ‘New Launch’ phase
Dec 5, 2021
4 Reasons you should buy a property during its ‘New Launch’ phase
You may have seen real estate advertisements with the tags ‘exclusive pre-launch benefits’, and ‘attractive new launch prices’. What do these terms mean? Do they provide the end-user any benefit while buying a property? This blog will tell you everything you need to know about a ‘New Launch’ property and give you 4 reasons to think about buying a property during its ‘New Launch’ phase.
What do you mean by a ‘New Launch’ property?
In real-estate jargon, ‘New Launch’ properties are projects where builders and developers have drawn up plans and opened bookings for buyers. These new properties will offer a sale against a project plan.As a buyer, the prime benefit of purchasing a new launch project in Mangalore instead of semi-constructed or ready to occupy is its cost-effectiveness. You get almost 35-50% of the price benefits. If you want to invest in a flat in Mangalore or are looking for a new home to stay in, new launch projects are a perfect choice. Here are 4 compelling reasons for you to buy a property during its ‘New Launch’ phase, so that you can make an informed decision.
1. Save with the Early Bird Offer
You may have heard ‘The early bird catches the worm’. The saying holds even in real estate. Real estate projects happen in phases. During the new launch of projects, builders tend to offer the best prices to attract buyers and investors. Owing to the competitive market, developers provide huge early bird discounts. You can use these savings in the future for furnishing the interior of your dream home. Aspiring homebuyers can make the most of this opportunity and book a new home at the best price.
2. Property Customization
When you purchase a property at its completed stage, chances are few that you will get to own an apartment with the best view or yourpreferred layout. Instead, if you go for a new launch project, you get to pick from many options and choose your favorite apartment with the best balcony view. You can also get a few interior modifications done in layout design according to your comfort and convenience, creating the dream home you have envisioned. At the initial stage, it is easier to make minor changes to the property, which are compatible with the basic structure. The best news is you can get all this done within your budget.
3. Book before the price hike
One of the biggest advantages of investing in property during its new launch phase is that you can block the price of the apartment before the rates increase. In the real estate market, the price hike is quite common. This can be because of various reasons like rising labor costs, cost of raw materials, new infrastructural development in the area, increasing demand for property, etc… Most real estate developers tend to increase the prices when they begin construction and scale up until the final stage. Opting to purchase a newly launched property will be better for your pocket.
4. Smart Investment
Investing in real estate is a great way to grow wealth if done responsibly,with an understanding of the risks and rewards involved. Buying a property is tricky. It involves a lot of planning and research, since it is one of the biggest financial decisions of your life. One of the key factors while purchasing a property is the location. Opting to invest in a property in a flourishing area or a developing suburb is the smart choice. This promises fast appreciation in price. You can consider selling the property in the future, or when it is in the ready to occupy stage at a higher price and get a good profit margin.
Experts also advise homebuyers to invest in a property from RERA- approved builders and developers, who have proven experience in the real estate market to avoid getting into unexpected financial and legal turmoil. Avoid investing in a property blindly. It might not shape up as the model project shown.
To sum it up, if you are investing in real estate, or you are on the lookout for a home, choosing a new launch property will be a wise decision.
Are you planning to buy a newly launched property to build your dream home in Mangalore? Look, no further… Land Trades Altura, a landmark of luxury living, situated in the heart of the city at Bendorewell, is now open for bookings. Altura consists of 3 & 4 BHK apartments with breathtaking views of the Arabian Sea and the lush green landscape that surrounds the property. The apartment complex has top-of-the-line amenities, and a whole host of facilities for fitness, entertainment, and relaxation.
