Buying Pre-Construction Condos – Go through the benefits carefully!

Real Estate

What is a pre-construction condo? 

Also referred to as the pre-construction condominium, the name explains itself that it is under construction apartments that will have its benefits when adequately made. It is not yet constructed, so you need to consider its upcoming amenities to be made. There might occur some problems regarding the problems in the planning of the house, and a more comprehensive vision is required by the owner or constructor to plan and supervise the yes or no possibilities for pre-construction condos. 

Many pre-construction condos have their pros. Some of these are mentioned below: 

  1. Price range: It varies from location to location, and their price range is comparatively lower from an already made condominium. The sellers also provide unique offers to sell out their not-made apartments. You also have the complete freedom to select the condo as per your budget and requirements.

  2. Everything new: the buyer is going to get every single thing un-used and fresh: new floors, new ceilings, and new fixed electrical appliances, newly painted walls. You are free for the cost of maintenance specialists for the coming ten to twelve years. No need for replacement of condos till that time.

  3. Desired fulfillments: when a pre-construction condo is about to be made, then it is totally up to the buyer to choose his desired location, square-foot quantity, up-gradations, architecture, etc. A consumer will be more benefitted in getting a pre-constructed condo as compared to an already made condominium.

  4. Low deposits: when you seek a well made proper condo in the market, the seller will demand a full money deposit at the beginning itself. But when buying a [pre-construction condo, it is not mandatory to pay the total amount at one time. You have the free will regarding how much price you want to pay in the first installment. You might also get some benefits like rebates in the prices of condos if purchased the pre-constructed ones.

  5. Area: You are free to choose the location of a pre-constructed condo, even in those areas that are already high in demand by the home-seekers. You need to do a little bit of research about the vicinity before finalizing the deal with the broker.

  6. Variations: As a pre-constructed condo is not built yet, the buyer is unbound to make any further changes in that unconstructed plot. The user will get many advantages

  7. Low down payment: The first time fees payable for a pre-constructed condo is much less than the one that is wholly constructed and furnished. Plus, you can also get a money-back guarantee from the broker or seller, depending upon the contract signed by both the parties.

  8. Due date: The contractor building your unconstructed condo will give you a fixed period of completion of the building or apartment. It might be a few months or a year, depending upon some factors like how many amenities you want in that condominium and what is the size of that condominium.

Some suggestions you might follow while purchasing a pre-constructed condo: 

There are some of the reasons why the expert architects advise their new customers to decide the fundamental aspects before buying the pre-constructed condos, also known as condominiums. Here are a few hacks to keep you aware while making the desirable purchase:

1. Verify the seller: It is highly suggested by experienced buyers to check the details of the buyer before buying any pre-constructed or constructed condos. There are a lot of unauthentic and fake sellers present in the construction market. So, it is needed to be aware of the deal.

2. Make comparison: A buyer is advised to shop carefully after comparing all the other options available in front of him. It is recommended to be highly cautious before selecting your suitable

3. Get expert advice: When you are eager to buy a plot or condos, either pre-constructed or unconstructed, you are advised to ask an expert who has purchased pre-constructed condos before, because he has experience of making such purchases.

4. Get an architect: Now that you have already purchased a beautiful pre-constructed condominium, then it is advisable to hire or appoint an experienced architect for the renovation and interior decoration for your new condo. You can also check out Ola EC floor plan which is completely designed by experienced and skilled architects.

5. Get an authentic broker: Brokers play a vital role in finalizing your deals. Thus, it is highly recommended to verify the background of the broker that you are hiring. The commission rates or brokerage depend strongly upon how you handle the bargaining procedure.

6. Bargain: If you ask an expert, then he might assist you in lowering the prices of pre-constructed condos that you wish to buy. Thus, try to negotiate as much as possible with the broker or developer. It might save you a considerable amount.

7. Deposits: As mentioned earlier, a well made and furnished condominium will take the vast amount from your pocket, but you can quickly get a pre-constructed condo by depositing less money. In this way, your hard-earned money will be secured for a better future.

8. Verify the location: The buyer is needed to check the area and locality of the pre-constructed condominium. It should have basic amenities within the vicinity like hospitals, restaurants, schools, markets, etc. otherwise, it will be somewhat difficult for the resident to survive in that region.

9. Search a builder: When you have selected the location and plot for your new house, then it is the perfect time to find a builder who will help you complete your required task at the desired time as per your requirements and period.

Tips for the buyer: 

It is suggested to verify every aspect of the person linked with this deal, and he can be the dealer, broker, agent, or anybody else. The area in which the purchaser is interested in buying a condominium is advised to bring our every detail about that region for a safe and secure side if he does not want to get in trouble afterward.