Islamabad currently has one of Pakistan’s most active residential real estate markets. According to the Real Insight Residential – April-June 2022 report, the city’s real estate sales increased by 30% in the second quarter of 2022, which was the largest quarterly gain. As of June 2022, Islamabad, an end-user-driven market, had a backlog of 64,860 units. Whether you are an investor or a property buyer, Islamabad offers a wide range of homes.
However, investing in real estate or buying it is never an easy decision. Because there are so many options on the real estate market and investing carries such significant risks, making the best decision at the right time can be difficult.
The first choice for buyers or investors is often whether to buy a finished, move-in ready property or one that is still being developed. Even while each solution has benefits and drawbacks, the choice will ultimately depend on your medium- to long-term needs.
Let’s simplify the decision-making process for your advantage. Continue reading to learn the top 3 benefits of buying ready-to-move-in flats in Islamabad.
Benefits of Investing in Islamabad Ready-to-Move-In Property
1. There is No Waiting Time:
The main advantage of purchasing a house that is ready for occupancy is the lack of a waiting period. There is no need for you to wait several months or perhaps years for the construction to be finished. Additionally, finished residences are exempt from GST, whereas still-under-construction homes are subject to a 12% GST charge. As a result, even though you wouldn’t be using a property that is still being built, you would still have to pay taxes on it if you were to invest in it. However, bear in mind that a ready-to-move-in property often has a pre-determined, pre-approved design and plan. Customers are unable to customise it with the design or materials of their choice.
2. No Doubt Regarding Property Features:
The vast majority of Islamabad’s commercial developments and ready-to-move-in apartment buildings offer clearly defined features and services. When inspecting these homes, you may quickly determine whether the building has high-quality finishes, features, and amenities that correspond to those mentioned in the sales literature. These homes have amenities like swimming pools, clubhouses, conference rooms, gyms, and professional lounges that are easily accessible to buyers in contrast to homes that are still under construction, as well as providing a glimpse of the neighbourhood infrastructure.
You will essentially be paying maintenance fees for amenities that have been promised to you but are still in the future when you invest in real estate that is still being built.
3. Clarity on maintenance fees:
A real estate developer must at first charge maintenance fees under the Real Estate (Regulation and Development) Act of 2016 in order to provide and maintain basic services.
The expenses related to buying a ready-to-move-in residential home in Islamabad, such as different deposits and society maintenance fees, are carefully considered and paid beforehand.
However, if you invest in a property that is still being developed, the maintenance fees might not be initially mentioned or requested for. This could considerably increase your costs at a later stage of the home’s building.
