Are you looking out to buy condos? Then buying pre-construction condos is said to offer a bounty of advantages. It can save both your money and time. While there is a boom in the construction arena, it is the right time to make a sound investment. The Miami Real Estate Trends provide adequate opportunities for everyone to own a condo. The portals of www.nytimes.com share insights on buying those properties that offer huge returns. Read through to know the bonuses that come along with buying a pre-construction condo.
Idea behind buying properties during the launch When a property is in its construction phase, the price would be much lower. Once the building nears completion in two to three years, the price may get doubled up. Hence, buying any condo during the construction phase can avail you a huge benefit. Most often, the builder’s, sales team, and developers follow a rule which shows the times of price increase in 4 parts. When a fraction of the building is sold, the increase in rates begin. You will also be able to see the early bird offers availed for projects in their construction phase. Hence it is the right time to choose a property.
You get what you want When you opt for a building in the initial stages, you will be given priority to make your pick from the homes available. A condo building is constructed in different rows or lines to make it face different directions. In the case of waterfront projects, if you avail the early bird offer, you can get to select condo with water views. You can also opt for one on the highest floor to get the views of beautiful waves. You can also choose the residence that avail sunset and sunrise views.
If you buy at the beginning, you would be offered the modern finishes encompassing superior building technology. You will also become the first owner of your home. Whether it is the walk-in closets, Italian-model kitchens, marble floors or classy master bedroom, you get what you desire. The majority of the condo also incorporate smart technology such as entertainment systems, lighting, and thermostats that control the features of the home with a single click of a smartphone.
Better returns and equity If you are a person looking out to rent your property, then buying a condo can be the best choice. Every year, the condos provide three to five percent increase in return on investment. The rental market has also grown immensely in the current years granting profits to you. The condo also offers high appreciation, doubling or tripling your buying value.
A few tips to look for before buying a condo Always buy from a good developer with an established track record. Choose builders who use high-quality materials for building. They do not have to be flashy, but smaller details must be considered. Look for architectural appeal of the building. Make a note of the construction timelines. Consider the aesthetics and structural soundness of the condo. Above all, always choose a residence that suits your lifestyle and budget goals. Make the best financial investment by being an early bird.