Before buying a pre-construction condo, you should examine the facts about the process. Unfortunately, there are a number of commonly believed myths about the purchase of pre-construction condos that cloud the minds of many buyers. Without the proper information, you could make the decision to purchase based on false information. Read on as we uncover the real facts behind seven of the most common myths about buying pre-construction condos.
The first myth we will address is the idea that pre-construction condos are more expensive to purchase than newly built homes. This is simply not true. While it is true that their price tags are higher, many pre-construction condos are actually less expensive than similar new condos in the same area.
This is a common misconception, as well. The waiting time for the completion of a pre-construction condo is not as long as many people think. The typical waiting time is anywhere from 18 months to 36 months, which is only slightly longer than the typical build time for new condos.
Many people believe that when they are purchasing a pre-construction condo, they don’t know what they are getting. This is not true. Pre-construction condos are built in the same manner as new condos, and often use the same building plans. When you buy a pre-construction condo, you are guaranteed to get the same materials, finishes and amenities as you would with a newly built home.
Many people believe that pre-construction condos are not good investments. This is far from the truth. Pre-construction condos are smart investments, as they tend to increase in value at a faster rate than newly built condos. They also offer the advantage of being your own property, which means you will be able to rent it out when you are not living there.
Many people believe that developers do not care about the buyers of their pre-construction condos. This is simply not true. Developers work hard on every pre-construction condo, so that it will sell quickly and make them a profit. Developers also work hard to make the process easy for the buyer, so that they can avoid many of the common problems buyers experience when purchasing a pre-construction condo.
Many people believe that it is impossible to get a good deal on a pre-construction condo. While it is true that pre-construction condos are sold at a higher price than newly built condos, they are also sold with a better price tag should you decide to resell them. This means that while they are initially more expensive than newly built homes, they can actually be a better investment.
The reality of the situation is that pre-construction condos are often better deals than newly built condos. While they are initially more expensive, they are often sold at a lower price should the buyer decide to resell them. Pre-construction condos are also more expensive because they are often better quality, which means that they are a better investment. While there are many myths about buying pre-construction condos, you should avoid believing them. Instead, talk to a real estate agent about buying a pre-construction condo. It may be the right decision for you.
If you are looking for new condos to invest in, come to Roger Rampuri. Roger Rampuri provides all his Real Estate clients with the highest degree of professionalism and a personalized strategy for success.