With all the investment options available out in the market, it is evident that real estate is an excellent long-term investment. At some point in our life, we have dreamt about having a place to call home. You probably even wrote it down as one of your new year's resolutions because living in your own space becomes part of our milestone as an individual as it gives us a sense of fulfillment. However, purchasing a property is not always easy financially. Thus, real estate developers sell properties that are still in the early stages of planning, which are called pre-selling properties.
What are pre-selling properties? You may have heard of the concept “pre-selling property” floating around. By the term itself, pre-selling properties are sold by real estate developers before their initial construction or completion. This means that the property does not physically exist yet. Customers purchase these during the planning stages wherein they can only view the blueprint of the property. This is why it is also called “off-the-plan properties”. The buyer gives their consent through a contract to purchase something before it is even finished. Therefore, the developers promise in this contract to complete everything in accordance with the agreed terms and conditions. The properties include condominiums, townhouses, or houses and lot, which are all offered here at Bria Homes. Most of the investors consist of young professionals and OFWs who are seeking to find a home but at the same time, another source of income. But why would someone want to buy a pre-selling property? Listed below are the top three advantages of buying pre-selling properties: Advantage # 1: Discounts and Flexible Payment Terms Since the property is still nonexistent, developers sell the property at an affordable and reasonable price. The prices are approximately 30 - 50% lower than ready for occupancy (RFO) units to attract more investors. Although RFO property comes with benefits as well, investing in pre-selling units definitely saves your pocket, especially when you are on a budget. Developers also offer more generous and flexible payment schemes through discounts on down payment, which may vary depending on the mode of payment of the buyer. Advantage # 2: Market Value Appreciation The key reason to invest in real estate is that its value increases over time. Real estate was rated as the best long-term investment, according to Gallup Poll. In the context of pre-selling properties, once the location becomes more well-developed throughout time, the value will continue to grow. This yields greater returns, which can serve as a way to boost your income by renting out your property. How much more when you ought to sell it in the future, right? Investing in real estate is never a mistake for as long as you are in for the long haul, not the quick return. Advantage # 3: Freedom of Choice One benefit of buying during the pre-selling period is that buyers have the privilege of choosing their ideal location. Unlike the RFO, they can pick an area near the amenities or a striking feature that faces a beautiful view. If you believe in the principles of Feng Shui, you have the option to invest in a property that can bring you good luck and prosperity. You can get lucky as well if the developers agree to integrate some of your preferences into your house or condo unit. After listing down the pros of buying pre-selling properties, it is also crucial to observe caution before investing. Therefore, here are some things to consider when buying pre-selling properties: 1. Financial Budget There are several real estate properties out there in the market. However, if you are on a tight budget, pre-selling properties will be your best option. As mentioned, it is much cheaper than RFOs, but it also gives you an edge in choosing the features you want to include in your new home such as access to premium amenities or remarkable window views. Ultimately, be certain that you have sufficient income to cover the finances of investing in properties. 2. Choose a strategic Location Another vital thing that should be on your checklist is living in a strategic location. Choose areas that can cut your travel expenses, which means that your property should be within proximity to nearby establishments and your favorite getaway for a comfortable lifestyle. You should also guarantee that you live in a pleasant and holistic community to enjoy your stay at home. 3. Propitious Investment When your property is situated in a strategic location, you will have a high expected return on investment (ROI) once everything is ready for use because real estate property constantly appreciates over time. Thus, apart from having a home, purchasing a pre-selling property can help you generate profit and passive income. 4. Look for the Best Flexible Payment Schemes Real estate developers always offer flexible payment terms to attract more buyers to finance their construction projects. Most of the time, the payments do not come with interest, which helps you save more money. In fact, as an incentive, they usually provide several discounts on down payments or in-house financing. 5. Do your research and Be patient Home hunting is indeed an exciting experience, but it can also be tiring at the same time. Unfortunately, in the case of pre-selling properties where they technically don’t exist yet, do not be afraid to ask questions to your developers. Since you cannot view the property in person, consistently question everything you want to know about your new possible home. Ask advice from your family, friends, professionals, and other homeowners. Since moving into a pre-selling property also takes time, always keep in mind that patience is key. 6. Find reputably and trusted developers Most importantly, to live comfortably, you must look for reputable developers that you can trust. Given that this will be a place you will live and rest, you want to ensure that the standard and quality are met. Take your time to research a company that has built a good image and reputation. Certify that they have a professional license to operate and build in that specific area. Lastly, consider a developer who listens to you and your preference and suggestions. Overall, as a prospective buyer, you should always do your research and weigh out all the possible options. List down all the pros and cons of the options before you choose. Maximize your resources and choose the best among the best. If you incorporate all the tips, you will surely enjoy life the way you always wanted. Move into your new home this new year for new beginnings here at Bria Homes. Written by Jashmine Pruller
21 Comments
Michelle Naraga
2/23/2022 05:18:11 pm
Lent me know Complete details regarding sa condo and house
Reply
8/1/2022 04:22:13 am
Really informative article, I had the opportunity to learn a lot, thank you. https://takipcisatinalz.com/takipci-2/
Reply
8/1/2022 11:26:22 pm
Really informative article, I had the opportunity to learn a lot, thank you. https://www.ugurelektronik.com/
Reply
8/3/2022 12:13:40 am
Really informative article, I had the opportunity to learn a lot, thank you. https://www.takipcikenti.com/instagram/turk-takipci/
Reply
8/9/2022 06:07:23 am
Really informative article, I had the opportunity to learn a lot, thank you. https://www.smsbankasi.net/2022/08/amazon-shopify-aliexpress-walmart-ebay.html
Reply
8/11/2022 09:16:05 pm
Thanks for sharing this post. I love reading it.
Reply
8/19/2022 02:07:59 pm
Really informative article, I had the opportunity to learn a lot, thank you. https://guvenbozum.com/
Reply
9/9/2022 06:12:58 pm
https://taraftarium24izle.net/category/futbol/
Reply
9/24/2022 06:42:18 am
sikayetgir.com En trend şikayetvar yorumlarını sizin için yayınlıyor.
Reply
10/1/2022 02:50:15 pm
https://devletbasvurusu.com/ibb-promosyonlari-27-bin-tl-olarak-aciklandi/
Reply
12/20/2022 06:41:48 pm
İnstagram takipçi satın almak istiyorsan tıkla.
Reply
1/7/2023 11:22:57 pm
100 tl deneme bonusu veren siteleri öğrenmek istiyorsan tıkla.
Reply
5/16/2023 06:57:14 am
Thank you for shared some good points here... Find Yelp ads online with good points ...
Reply
6/29/2023 07:46:16 pm
En iyi aksaray ilan sitesi burada. https://aksaray.escorthun.com/
Reply
12/6/2023 10:08:06 pm
Thank you for sharing this insightful and comprehensive guide on "Things to Consider When Buying Pre-Selling Properties." Your expertise shines through, and I appreciate the effort you've put into breaking down the crucial aspects of this often complex process. One aspect that stood out to me was your emphasis on thorough due diligence.
Reply
Leave a Reply. |
AuthorA real estate marketer in Philippines. Archives
October 2021
Categories |