Ready to move in house or under-construction property – here’s the pros and cons

Whenever we are looking to buy a property, this is the first question we always ask ourselves. While both have their merits, the decision should ideally be taken based on your requirements, your financial situation and how much risk you are ready to take. Both these options have their own pros and cons and it is extremely important to be aware about the advantages and disadvantages of an under construction or a ready to move in property. In this article we will discuss the pros and cons of buying both a ready to move in and an under construction property to enable you to make the right choice.

First if you choose to buy a ready to move in property.

Ideally when one opts for a ready to move in property it is more out of necessity rather than desire. With a relatively slow real estate market, stagnating property prices, and delays from developers in delivering projects, ready to move in properties have become more popular in the last couple of years. The risk factor is, to a large extent, negated and the uncertainty of the property being delivered when you want to does not exist. Here are some pros and cons of choosing a ready to move in property:


  • Immediate possession; Ready to move in homes are immediately available for possession. 
  • The big incentive for second home buyers to buy a ready to move in property is that they can start enjoying the fruits of investment immediately. If you are buying to start your holiday home rental business, you can start it almost immediately. 
  • Another benefit is that there are no surprises – you get what you see. You do not need to imagine what your home would be like and then get disappointed. Because the property has already been built, you can see the quality of construction, size of the property, area surrounding the property, parking space, and all other amenities available.


  • Ready to move in homes are relatively more expensive. In most cases, the price can by 25 to 50 percent more than any under construction property of the same specifications. 
  • Another concern is the maintenance of the property. If the property was unoccupied for a longer period and if the earlier owner or the developer has not carried out regular maintenance, that would require a lot of effort and money to make it livable. 
  • If you are thinking of taking a mortgage/ loan, buying a ready to move in property not only means increased cost, it also means higher EMI, limits of modification, lack of choice and lack of payment flexibility.

Now, if you opt for an under construction property.

With many developers operating in the market, there is a plethora of options to choose from which most buyers are finding an ideal option to realize their dream to buy a property. For home buyers who are ready to wait for a couple of years before they start enjoying their home, under construction properties are no doubt the best option.


  • Because under construction homes are available aplenty, it gives you the opportunity to pick and choose. There are choices in prices too. 
  • An under construction property is relatively cheaper than its ready to move in counterparts. And since the price is lower when you buy, you get a higher price once it is completed. 
  • You have the flexibility to choose the design, size and location from the many developments being constructed in the location of your choice. 
  • Since most developers offer construction-linked payment plans, you can make the payments based on the status of construction.


  • The first and foremost is delays. There could be delays in the delivery which can hurt you if you have taken a loan. Not only will you be paying the EMI for a longer period, you will not be able to earn from the property if you are looking to use it as a holiday home. 
  • The final product as you had seen in the brochures or the display property may not be the same. The sale agreement has a lot of riders and clauses heavily favor the builder. 
  • Although very low, nevertheless there are chances of the developer facing fund-crunch, which can hurt the progress of the construction.

So then which one is better?

Actually there is no right and wrong way to choose. Your choice of buying a ready to move in or under construction property must depend on your affordability, funds available, and the timeline you have in mind. If you have enough funds and you can wait for some time, the best option will be to go for an under construction home from a reputed builder with a good past record. If you have funds available but not sure about future cash flow, you should look for a ready to move in home as they provide immediate delivery.