Is It Okay To Invest In A Pre-selling Condo If you live in the metro, chances are you’ve seen huge billboard ads that encourage the investment of pre-selling condos. Almost anyone might be tempted to go for it because of a myriad of reasons: low-down payment, discounted fees, and slashed interest rates. In the real estate sector, pre-selling condos are units that are being sold even before they are completed or while in the planning period. Many finance experts encourage purchasing the said establishments because of a myriad of factors. Two of the most notable ones are elaborated below: Cheaper rates Pre selling condos are cheaper because: there is no interest; secondly, property appraisal peaks when is condo is built. In fact, some of the units out there can be up to 30 percent cheaper than their finished counterparts. Pre-selling is usually 5 yrs and in that period, the developer will make enhancements other than building the condo such as building a adjacent commercial area or in the case of an enclave development, a masterplan; which will be a major factor into the appraisal of the property other than the “zonal” value. Furthermore, some developers offer low down payment for as low as 10 percent of the total amount of the property, with the lump sum payable through Pag-IBIG or bank financing. Putting the said factors into consideration, it is an exceptional investment if you’re a real-estate investor who’s looking for profit. Given the current market condition, one can be re-sold for a very substantial amount. Better options There are several options that you can choose from when purchasing a condo in the pre-selling stage. For instance, you can choose the floor plan, unit location, and other factors that can perfectly complement your taste and preference. While you don’t have the luxury of getting the feel of the actual unit, rest assured that the a reputable developer ensures that the unit that you will purchase in the pre-selling stage will have the design and features that was promised to you. In addition to all these, pre-selling condos can give you ample time as well as opportunity to appropriately customize the condo unit that you’ll purchase. With regard to condo development, the said condominiums usually present some of the latest in terms of features, amenities, and designs, among others. Whether this is an innovative waste management system, high-class amenities, or eco-friendly construction materials Summary As you can see, purchasing pre-selling condos is perfect for those who want to obtain something that is well worth their time, money, and effort. On the other hand, it should be noted that just like other acquisitions, the said residential establishments also come with disadvantages and you should do a detailed research with regard to this matter to find out if pre-selling condos. In the end, it should be noted that their advantages outweigh the disadvantages; as such, you shouldn’t hesitate to invest in one when the opportunity presents itself.
Posted on: Wed, 22 Oct 2014 07:17:47 +0000