Buying an off-plan condo can be daunting and exciting at the same time. As an off-plan customer you get to choose pretty every detail of the design, from the room or space layout, to the bathroom towel rails. This means you can design your dream home to exactly how you want it. Purchasing a condo pre-built can be amazing but once you have paid your money and moved in there maybe little design flaws you spot that will annoy you until changed. Investing in an off-plan condo can be a very shrewd move financially but only if certain things are considered.
Location is obviously a big factor. You want to invest in somewhere upmarket , or even better somewhere that will be more upmarket in the future. This way you will see an excellent return on your investment, with a fast and high increase in the property value. Keep in mind that off plan condos in expensive areas will be a lot cheaper than buying a normal family home.
The next important factor is your contract. Make sure, and double check you are dealing with reputable companies. Check them out, check reference sites and check the financial stability of each contractor. Read your contract thoroughly and get your lawyer to explain anything suspect. Also, make sure you have a cooling off period written in. Buying off plan will certainly get you the best deal as when completed the value should increase immediately. Study the deposit clauses and be certain the exact specifications you want are written into the contract.
Buying off plan is a sound investment as getting in early will see you get a great deal. You will pay a deposit, and not see the condo finished for a length of time but the wait will be worth it, both for the joy of moving into your dream home, that you designed. Good luck!