Why You Should Invest in Pre-Selling Condos
Date posted September 9, 2022
If you're in the market for a real estate property, you must have looked at several condo units and houses across different cities by now. Although you might have found some great properties, you can have some reservations about them. Whether you have some doubt about their price, payment schemes, or amenities, these factors may make you hesitant to pay the down payment or sign the documents required for the property.
Instead of stressing yourself out in trying to find the perfectly built property for your needs, why not consider investing in pre-selling condos? This type of property can provide you with a lot of benefits and meet all the requirements you're looking for in a condo unit.
What is a Pre-Selling Condo?
Pre-selling is a term used to describe properties, including condominiums, townhouses, and houses and lots, that are being sold before they're even built or finished. Developers usually advertise these properties years before their estimated turnover date. They may begin introducing the property to consumers while it's still in the planning stage, during construction, or at the very early stage of development.
Benefits of Investing in a Pre-Selling Condo
Pre-selling condos have become popular in recent years because of the many benefits they offer to buyers. If you're on the fence about whether or not investing in a pre-selling condo in C5 road is worth it, here are some reasons that might convince you:
Lower Introductory Price
Developers usually offer pre-selling condos at a lower introductory price to pique consumers' interest and attract investors. They are also able to do this because the property hasn't been built yet. Therefore, they haven't spent too much money on developing the building.
Most of the time, developers offer pre-selling condo units at 30-50% off the price of a completely built condo unit. This offer typically attracts individuals who are interested in a low-cost, high-return investment.
Flexible Payment Schemes
Another reason to invest in a pre-selling condo in Ortigas East is the flexible payment schemes that you can choose from depending on your financial situation. Unlike fully built condos, pre-selling properties have more flexible payment options. For instance, you can choose to pay in cash, through bank financing, or via in-house financing. You can also take advantage of the developer's deferred payment scheme, where you only need to pay a small percentage of the total price when you sign the contract.
Developers offer flexible payment schemes for their pre-selling condos because you have at least two to three years to pay for the unit before it is completed. This means that your developer has the chance to stretch your payment scheme for at least 36 months to help you manage your finances. Some developers also offer special discounts or promos during the early development stage of the project.
Wide Array of Choices
When you invest in a pre-selling condo, you get the first pick on condo units. If you're looking for a specific unit or want a beautiful view from your window, you're more likely to get it when you invest in a pre-selling condo.
You can also secure larger or corner units without having to pay a premium or compete with other buyers. This is a great benefit because most larger and corner units always get sold out first in fully built condos.
New Property
Investing in a pre-selling property allows you to enjoy all the luxuries of owning a newly built condo unit once the project is complete. This means that every part of your property is brand new and almost always doesn't have any problem.
Once the developer turns over your condo unit, you won't have to worry about any damages from previous occupants or owners. Since you are the first owner, you can be sure that the appliances, fixtures, and other parts of your unit are all new.
You can also rest assured that the building you're in doesn't have any problems related to wear and tear. Additionally, pests such as cockroaches and mice are less likely to be an issue in a newly built condo.
Great Investment Returns
Condo units are almost always in high demand, especially in Metro Manila. So, there is a large chance that the value of your property will increase by the time it's fully built.
This is why most investors prefer buying pre-selling condos and selling them after the project's completion. It's a low-risk investment that even starting investors can get into without worrying too much about financial setbacks. Then, once the project is completed, they can either sell it for almost double the amount that they bought it for.
Find a Pre-Selling Condo in an Ideal Location
One of the most important things you need to consider when looking for a pre-selling condo to invest in is the location. You need to find a property in an accessible location with a lot of nearby establishments.
To maximize your investment, it's best to invest in a pre-selling condo in Ortigas East developed by Ortigas Land. You can count on us to help you find the right condo unit that suits your needs and preferences. Contact us to learn more.
