Tips & Advice

Under Construction Vs Ready To Move Home – Which One Is Better For You?

Housing Finance

The outbreak of the covid pandemic has made us realise the importance of owning a house. Apart from the fact that it is a valuable asset, it is also an investment for the future. The one advantage that Covid has brought with it is that the home loan interest rates today have dropped and the interested people can buy a property of their own.

While moving to your own house is a great achievement, there are many things that will need your attention before you finalise a deal. One of the biggest decisions that the owner needs to make is whether to go for an under-construction house or a ready to move place. Both of the properties have their own benefits and drawbacks and therefore, it is totally up to the owner which one to prefer. However, to choose one of them, it is very important to know both of them first.

Understanding Under Construction Home

Under-Construction houses, as the name suggests are houses that are still not built. They are generally located in areas that are not well established and therefore the price of these houses tends to remain 10-15% lower than ready to move properties. However, this factor may vary according to the location of the house and the plan of the builder. Buying an under-construction house will allow you to plan everything that is in and around your house and all of this combined with low home loan interest rates is the best deal to have.

Understanding Ready to move Home

A ready to move house is one that is already built and you can move in whenever you want. A ready to move home has many benefits that a buyer may find very attractive. First of all, a buyer gets to see what he is going to pay for, how the surroundings are, neighbours, whether the house is furnished as per his/her taste or not, etc. Secondly, there is no waiting period associated with ready to move houses and therefore, it is preferred by buyers who wish to invest quickly.

Under-Construction Vs Ready to Move Home – Things to Consider

Each of these aforementioned houses is best in its own way. However, taking a home loan and buying your own house is not an everyday job and here are some key points you should consider.

  • Estimate your budget and then look at which house matches your expectations as well as your budget
  • Select the location looking at your daily travel routes
  • Make sure the property has all the important documents and licences needed for the deal
  • Read all the documents carefully before applying for a home loan.

Under-Construction Vs Ready to Move Home

ParametersUnder Construction HomeReady to Move Home
FormalitiesLess documentation is required as compared to ready to made propertiesThere are a lot of documentation procedures and other legal processes to be completed
PriceComparatively cheaper than the ready to move houses but depends upon the locationGenerally on the higher size
Risk levelsLow chances of risk. The buyer’s due diligence is importantHigh level of risk as the property may have been sold to more than one owner in the past. Due diligence of the buyer is mandatory
Ease of sellingIt is often difficult to sell an under-construction propertyReady to move properties are easily sellable.
Source of incomeIt will take time before one could actually use the house as a source of incomeReady to move houses can be quickly put on lease and the money can be used to pay the EMI of the home loan taken.
PaymentAs the property is still under construction, the full amount might not be demanded at once but would be paid in intervalsThe buyer would be asked to pay the whole amount at once


Buying a house is an important phase in everybody’s life and it should never be done in a hurry. No matter how occupied you are, you will have to understand the features associated with both types of properties so that you choose one which suits you the best. After you are done with selecting your dream house, move on to the next step, i.e, home loan. If you feel the need of taking a home loan, just visit the online portal of your lender, read about all the features of the loan, home loan interest rates and other important information. Fill the form quickly, submit it and wait for your home loan to be approved.