Pre-Launch and Soft-Launch Offers and What Do Builders Mean by Them

1. Pre-Launch and Soft-Launch Offers and What Do Builders Mean by Them A first-time home buyer may find it difficult to comprehend certain real estate technical terms. Two of these that developers often use are pre-launch and soft-launch offers. The two concepts are different, but the purpose is the same, to attract clients and sell their properties at reasonable rates. A proper understanding of the two terms will help you identify what is good for you. Pre-launch A pre-launch is when the builder starts advertising the property even though the authorities are yet to approve the project. The real estate firm may be working on getting the approval or is yet to start the procedure. In either case, availing of a pre-launch offer is fraught with risks. Homebuyers who choose pre-launch offers may have to deal with delays and wait endlessly for the delivery of their projects. Despite these issues, some homebuyers still prefer to invest in pre-launch properties. One of the biggest attractions of pre-launch is the attractive rates of residential properties. Since the developer is waiting for approvals, a pre-launch apartment will cost much less than a ready-to-move-in home. This makes pre-launches a perfect option for those planning to buy a residential apartment for investment purposes. If a pre-launch offer is on your mind, you must keep a few things in mind. First, make sure that you are dealing with a reputed developer. Check the firm’s track record and see if they have been delivering the projects on the scheduled date. For best results, avail of pre-launch offers only from well- known developers. Soft-launch

2. In a soft-launch offer, the developer starts selling the apartments when the approval is still being processed. With documentation in order, the approval being worked upon, and a high likelihood of the project getting legal validity, a soft launch is much safer than a pre-launch offer. Like the pre-launch, soft-launch offers are also reasonably priced compared to ready-to- move properties. This makes it an attractive option for homebuyers looking for lucrative discounts. But homebuyers need to be aware that the approval process being halfway through does not mean there are no risks involved. Delays, change in plan layouts, and the fear of the project getting stuck are just a few causes for concerns. Nevertheless, the risks are less than a pre-launch offer. The issues mentioned above can be addressed if you take the necessary precautions. Verifying the paperwork and approvals, keeping the receipts and documents, checking the developer’s background and hiring a capable lawyer are a few steps that will offer you protection. Conclusion Though the risks associated with pre-launch and soft-launch are high, so are the benefits. Since the projects are yet to be approved or are in the approval stage, the homebuyers are assured of massive discounts which can go up to 20 or 30 per cent. Even though this may sound lucrative, take your time investing money in a pre-launch or soft-launch apartment. First, check the authenticity of the developer, their track record, and other details. Also, take legal advice. Whether you are looking for property in Lokhandwala Andheri West or any other attractive location, purchase the property only after you have done a thorough background check. To ensure you’re choosing the right developer, visit real estate platforms like Blox, which has only verified projects and trusted builders on its website. At the same time, the process from exploring to buying is transparent too. Be vigilant and stay safe from fraudulent activities.