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​​​​​​​Why Invest In Pre - Selling Condo?

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THE investment benefits of buying a “pre-selling” condominium unit outweigh the risks, 

a “pre-selling” unit is any unit offered for sale before it is actually ready for the owner to take physical

possession of it – or in other words, during the planning or construction phase. The property listing service

estimated that as much as 70 percent of condominiums currently offered for sale are pre-selling units.

The biggest advantage of investing in a pre-selling unit is a lower sale price.

What is a “Pre-Selling” condo?

This means that the property being sold is still under construction or even on the planning stage yet. The developer may or may not have broken ground for the property so there is no development yet. Now you think, “So am I buying an imaginary property?”. Not necessarily. Before you run for the hills, let’s break this down. There can be some good points in buying pre-selling properties.

What are the advantages of buying pre - selling condo's

1. Cheaper prices, flexible payment schemes, promising investment

Many buyers go for the pre-selling option, largely because of its lower introductory price, which can be (more or less) 30% cheaper than a finished unit. On top of that, developers might throw in a 10%-15% discount or offer flexible payment schemes where the down payment can be as low as 10% payable for 3 years (with most real estate companies), with the lump sum to be paid either through a bank financing, government sponsored home loan (see Pag-IBIG Funds), or the developer’s in-house financing options.

2. If you are a real estate investor, pre-selling condos are a promising investment since their market value can increase by the time they are finished. Given favorable market conditions, you can resell the finished units for q higher price than you put down when they were in the pre-selling stage.

3. Better options, new features

You may also have more options when buying a condo in a pre-selling stage. You get to choose your preferred unit location and floor plan, not to mention the better views, easier access to amenities, and lesser foot traffic. Depending on the pre-sale contract, you can also inspect your unit at the end of every construction phase and inform the developer of the unit’s defects or of any adjustments you may want. Pre-selling condos give you the time and opportunity to customize your condo unit according to your preferences.

4.In terms of condo development, pre-selling condos usually offer something new, if not the latest, in terms of design, features, or amenities. Whether this might be a state-of-the-art waste management system, resort-style amenities, or eco-friendly materials and construction, new features are not only appealing but also necessary if the changes they bring matter to you ,,,

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