Everything You Need to Know about Pre-Selling Condo Units

Key to a Condominium UnitMany people today are considering taking advantage of the pre-selling condominium promos. Others even see it as a financial investment for many reasons. These include lower prices and flexible payment terms and interest rates.

While this may seem convincing enough, Real Estate Hub notes that it’s still advisable to do your research and evaluate your options.

Lower Prices and Flexible Payment Schemes

Introductory rates and flexible payment schemes are just some of the reasons people are opting for the pre-selling unit promos. Usually, it’s about 30 to 40 percent cheaper than existing units. In addition, some developers may offer a deal that comes with a 10 percent down payment payable for 3 years. Check online reviews to see the price trend for both existing and pre-selling units.

Better Options and New Features

Another advantage of buying a pre-sold unit is that it gives you more options. You can choose the floor plan and location of your unit. You can check out units with better views, access to amenities, or lesser foot traffic.

Some developers also allow owners to inspect their unit. You just need to discuss it before releasing the contract. Usually, they may allow some adjustments at the end of every construction phase. You just need to follow the timeline provided by the developers to avoid any delay.

Possible Risks

There are some cases that buyers are complaining about the finished product. Keep in mind that there could be some changes to the original plan. This may include the materials to be used, floor plan, features, and even the location of main amenities.

Another risk you should be aware of is the turnover completion. That’s why you should choose the developer wisely, especially during the pre-selling stage. As much as possible, go for the leading contractors in the country. Check out their recent projects and ask for feedback from different unit owners regarding their experience.

Buying a pre-sold condominium has pros and cons, which is why you need to get more information to evaluate your choices. Take all necessary precautions and choose the best option that suits your needs.