Nowadays, there are so many pre-selling condos around. These are condos under construction. Some are ongoing, and some are yet to start.
Looking at the floorplans and the layouts of the unit, you will right away consider buying this one. Before considering righto buy this type of condo, try to see the positive and negative side of these condos.
Since the building is still ongoing, or yet to start, the price will be considerably a lot lower than those ready for occupancy units.
Since the unit is not yet ready, the buyer can plan all related matters, especially for move-in, because she has lots of time. If the condo is delivered say two to three years, the buyer will have ample time to plan and even save for other items he/she will need inside the condo.
Various Payment Terms
Preselling condos offer various payment terms. The buyer has to decide which fits his/her budget. It can be a significant down payment or a very minimal one.
Return of Investment
The value of real estate property appreciates. A property bought 3 to 4 years ago has a high price now. The return of investment is quick either by reselling the unit at the current market price or leasing it to prospective tenants for a steady monthly income.
YYou have to wait for a longer time. Most of the developers can’t deliver the unit on the promised date due to many factors. So the buyer should plan what he will do in case the move-in will not on the expected time.
The buyer is at a higher risk of possibly losing his hard-earned money if the construction will not push through due to many reasons. So the condo should be bought from a very reputable developer with an excellent record of delivering the finished unit on time. Invest ample time of studying all factors related to the condo, including verification of the certification and legitimacy of the developer.
With the above factors mentioned, buyers have the final say about purchasing or not buying a pre-selling condo.
I hope this article at least gives an idea of the subject matter.