Ready-to-move peace of mind: Is it always the smarter choice?
Did a site visit to The Icon Eden and Prestige Meridian Park Phase 2 kuch months pehle. Finally moved into my place last month, and honestly, the possession status was a huge factor. Icon Eden was ready to move, which saved us from paying both rent and EMI – that dual burden is no joke yaar. But Meridian Park, being under-construction, had a slightly better base price, but then you add all the PLCs and the wait... not sure if the total cost of ownership would've been much different in the end. Also, Icon Eden felt more like an end-user community, kam investor types. Meridian Park mein toh lag raha tha sab investors hi hain. Did I make the right call avoiding the under-construction gamble for peace of mind? What's your experience with these projects, especially on the investor ratio and eventual society vibe?
Comments
Glad you found your peace of mind! But I'm curious, what was the 'actual' total cost of ownership for Icon Eden for you? And did you feel that the slightly higher upfront cost was justified? The Bengaluru market is so volatile, sometimes waiting can save you money, sometimes it costs you more. What about hidden charges or society formation issues since it's
Peace of mind is everything, especially for your first home.
I can totally relate to avoiding the under-construction gamble. My own experience with an under-construction project was a nightmare. Booked a flat 4 years ago, promised possession in 2.5 years, still waiting! The builder keeps giving excuses. Now I'm stuck paying rent, EMI, and watching my savings deplete. The investor ratio in such projects is also a concern – they just want to flip, not build a community. Icon Eden ka vibe sounds much better for a family.
Investor ratio ka point bahut valid hai. Community feel is important.
Which builder was this, if you don't mind sharing? Helps us avoid. Meri cousin ka project Aavalahalli mein 2 saal late ho gaya, same story.
Oh no, yeh toh bahut common hai. My friend also faced this.
But isn't the price difference between ready-to-move and under-construction quite significant, especially for a first-time buyer on a budget? Icon Eden ka price range ₹60 L – ₹1.1 Cr hai, which is on the higher side for many. Meridian Park might have been cheaper overall if you factor in the appreciation during construction.
Sahi keh rahe ho U8. Log sirf base price dekhte hain. The hidden costs and the wait period are huge, not to mention the mental toll. My friend almost went bankrupt paying both.
Appreciation is a gamble, bhai. Aur woh 'significant price difference' sirf base price pe hota hai. Add all the PLCs (preferred location charges), floor rise, amenities charges, maintenance advance, GST, and then 2-3 साल का rent. Plus, the current market mein toh delays common hain, which means more rent. I did my calculations for a similar project in Akshayanagar, and an RTM property often ends up being competitive for an end-user. Investors might still benefit from U/C, but for living, RTM makes more sense.
Yaar, totally agree with your point about the dual burden of rent + EMI. That's a killer for first-time buyers like us. I'm also looking for something ready-to-move for this exact reason. The peace of mind is worth a little premium, I feel. Meridian Park ka base price attractive lagta hai, but woh waiting period aur uncertainty, it gives me anxiety.
Exactly! My cousin booked in an under-construction project in Adigara Kallahalli and the builder kept delaying. He ended up paying rent for an extra 1.5 years and the EMIs started too. The 'slightly better base price' vanished into thin air with all the extra rent and mental stress. RTM is the way to go for end-users.
Haan bhai, peace of mind is priceless. Same feeling here.