Buying your first flat is a significant life decision, especially in Bangladesh’s dynamic real estate market. One major dilemma is whether to opt for a ready-to-move flat or an under-construction one. Each choice has advantages and disadvantages. In this article, we shall help you navigate choosing the optimum option for your needs, especially if you’re a first-time buyer.
In Dhaka and Chattogram, both under-construction and ready flats are available at hand. For first-time buyers, the right decision depends on urgency, affordability, trust in the developer, and forward thinking.
Ready Flat – Instant Access, Less Uncertainty
A ready flat is one where the building process is done, and you can move in immediately after payment and registration.
Pros:
- Immediate move-in; no waiting period.
- “What you see is what you get” – minimal surprises.
- Ideal if you want to avoid paying rent and installments simultaneously.
Cons:
- More expensive than under-construction flats.
- Limited customization options.
- Older buildings may require more maintenance.
Ready flats are ideal for those in need of urgent accommodation or who want to invest in a physical asset with reduced risks.
Under-construction Flat – More Flexibility, Better Pricing
Under-construction flats are those that are still being developed and have not yet been completed. Clients typically make installment payments during the construction period.
Pros:
- Less expensive than flats for occupation.
- Easier payment via installment plans.
- Ability to modify the interior layout or plan (depending on the developer).
- Potential for price appreciation upon completion.
Cons:
- Project delays or cancellations (especially with lesser-known developers).
- Dual burden of rent and installments.
- Risk of variation between the model and the final unit.
This option is suitable for buyers who can wait for 2-4 years, want to save on cost, and are dealing with a trusted developer.
Factors to Consider Before Choosing
- Budget: Ready flats are more expensive in advance, while under-construction ones can be paid in installments.
- Timeframe: In a hurry for a place? Opt for a ready flat.
- Developer reputation: Research previous projects before purchasing under-construction buildings.
- Legal documents: Confirm the project has required RAJUK approvals and titles to the land.
- Location: In some cases, prime locations have only older, ready flats, while newer locations have future projects.
Conclusion
Under construction and ready flats are both suitable choices for a first-time buyer in Bangladesh. A ready flat is better if you need certainty and a quick move-in. But if you are flexible in terms of time and want to save money, under-construction flats might be worth it-subject to the developer’s trustworthiness. The final decision is up to your lifestyle and financial needs.
