One of the hottest commodities around the world is Condominiums. Along with the improvement of various infrastructures and transportation improvements in the country comes more and more investments from businesses and individuals from all over the world.
You’ve seen hundreds of ads for condominiums and you’ve probably been handed several brochures and flyers but what is the difference or getting a pre-selling condo and getting one that’s ready for occupancy? Read on to find out why you should buy a pre-selling condo this 2022.
Pre-Selling Condominiums
You’ve probably encountered the term “pre-selling” as you searched through the internet for properties, right? This is when the developers sell the units in advance. It’s a very common practice in real estate. Just like when you’re putting up your own home and you’re paying for the workers and materials as they finish your house.
Essentially, you are buying a unit that doesn’t exist yet. So, you’re already paying for your unit while they are still ongoing construction and you have to wait for a year or two as they complete the development. It’s safe to say that they’re also using your money to fund the construction of the building. But not to worry, buying pre-selling condos have a lot of perks too!
First Pick of the Best Units
Location is one of the most important things when you’re getting a condo. The best ones are always nearest to malls and medical or educational institutions depending on your needs. This also applies in choosing your unit.
Aside from the location of the condo building, the location of your unit is also an important factor that contributes to your condo living. It is important if you want to make it your home and definitely important if you want to rent it out too.
Isn’t it always a good thing to be first when it comes to choosing? Because once the pre-selling period is done, you can only buy the ones that were not chosen by the early investors or buyers. Do you want a corner unit with the nicest view? Do you want a unit with a balcony? Is the elevator noise going to bother you when you sleep? Or do you want to be on the lower floors so you can just take the stairs in case the elevator is broken? You can’t get that if you don’t buy during the pre-selling stage.
Buying pre-sold condos will give you a chance to choose the unit you prefer and avoid all the ones you don’t want to have. If you’re a light sleeper and you do mind the elevator sound, don’t get one next to it or you’ll be up all night. Do you like going for nice evening walks on the rooftop and staring at the cityscape to unwind? Maybe getting a unit on the higher floors is best for you. You can even choose the units with the best sunset or sunrise view if you value that.
Choosing the best units can make or break your condo living experience. It can also be a factor for your renters.
Cheaper Prices
Pre-selling units are usually better deals because they are around 30-50% cheaper than the finished unit. Think of it as an introductory price.
Usually, the developers offer a more flexible payment scheme and lower down payments during pre-selling time because of the absence of the actual unit. After that, it gets sold at the regular price. You might think you’re on the losing end by paying for something that doesn’t exist yet but over time, you can calculate your return on investment and you’ll be surprised how much money you actually saved vs the time you think you have lost. It’s just like any other business, you give it time to grow before you can earn off of it.
Steady Source of income
We mentioned this earlier on. Once the unit is completely finished and you’ve fully furnished it, you can rent it out to ex-pats or families looking for a space to call home. Wouldn’t you love to eventually own your unit using other people’s money?
Okay, no, it’s not stealing; it’s business. Once you find a tenant that agrees with your terms, the rent money can go to your monthly payment. And since you got your unit cheaper, you can rent it out at regular price and you’ll still have enough to pay for everything and a little extra.
You don’t have to rent it out long-term if you don’t want to. You can have short-term stays like staycations for families and friends.
A lot of families look for staycation places instead of going out of town. It’s closer to home, less hassle and it’s somewhat similar to staying in a hotel. Usually, these families just want a cozy place where they can just spend a nice weekend and have amenities to enjoy like the pool. It’s your unit, you decide what kind of rental you want to do. In time, you won’t even have to worry about paying for the monthly amortization.
Vacation Home
If you’re not already living in your condo, you can treat it as a vacation home. Your own cozy space away from all the stress of the city. It gives you a place to call your own away from home. Your own little escape to the busy world from time to time. And since you own the unit, you don’t have to pay for your stay at all. It’s your condo unit, after all.
Wouldn’t it be nice to never have to worry about booking accommodations and spending every time you’re there? Especially if you get a condo out of the town you live in. You and your family or friends can use your out-of-town unit for a short vacation or whenever they visit the country or so. Use it as a get-together venue for your family reunion and just cook food together.
You’ll find yourself saving money this way instead of spending every time you’re in the area. Plus, you can still earn off of it on regular days, when you’re not living in the unit or using it.
Good Investment
The value of your real estate property, in this case, your condo unit will increase over time, most especially if you’re situated in a very strategic location. Buying a pre-selling unit means you get it for a cheaper price, so all you have to do is wait until the unit turnover. While you’re waiting for it to complete, the neighboring establishments also develop and improve over time. A lot can happen in a year so this can mean that your unit value would have increased considerably by the time it is completed.
If you have the time and funds, you can make this your business. Some unit owners buy during the pre-selling stage and sell it to other people as a secondary market for a higher price once the condo is completed. This is actually very common. In 3 years’ time, the value of your unit can double depending on where you’re located and what’s around you.
6 Property Services Preserve Your Property Appeal
Preserving the overall appeal of your property is something you should always see whether you’re a typical homeowner or property investor. There are numerous benefits you can enjoy if you start practicing property maintenance to preserve your property appeal. It does not only help you maintain the aesthetics of your home, but it also helps you avoid costly maintenance repairs that can set you back thousands of dollars every year. What’s more, is that it can significantly increase the value of your home if you invest in it.
If you have plans to sell your property or if you simply want to keep it from wear and tear, the best thing you can do is avail of certain property services that can help your home always look good as new. Fortunately, Australia is packed with property service providers with a wide range of specialties that can enhance your property’s appeal. Here are 6 property services in Australia that you should check out if you want to keep your property looking spick and span.
- Interior Design
One of the best services you can avail yourself to truly make your home appealing inside and out is an interior design service. Interior design services can help turn the inside of your home into a more stylish and livable space. This kind of service can greatly benefit you if you feel like the interiors of your home feel somewhat dated. Some companies in Australia that are known for their interior design services include Milaray Park and K&H interiors.
2. Landscaping and Gardening
More often than not, homeowners and property investors overlook the outer appeal of their properties. A lot of homes are usually left with bland landscapes that can literally make you say the grass is greener on the other side.
If you feel like your property can use a touch of greenery, you may want to get a hold of landscaping and gardening services for your home. ALIA and Semken landscaping are two popular players in the landscape and gardening industry in Australia. They can help transform your lawn into a luscious and inviting patch of land.
3. Rubbish Removal
One of the most useful services you can avail to preserve your property appeal is rubbish removal. You’ll highly appreciate this kind of service if you don’t have enough time on your hands to constantly rid your home of rubbish.
Companies like 1300rubbish and Paul’s Rubbish can help you clean up all sorts of rubbish in your home. From leave-filled gutters to cluttered yards, rubbish removers can deal with all sorts of unwanted trash in your home. You may also find this type of service very useful if your property has recently gone under construction.
4. Lawn Maintenance
You may think that landscaping and lawn maintenance are the same things, but they are definitely not. Landscapers and gardeners focus on designing the overall look of your lawn. Sure they can offer lawn maintenance services, but those kinds of services could usually cost you less if it comes from an actual lawn maintenance company. A couple of popular names in Australia when it comes to lawn maintenance services are Jim’s Mowing and Trusted Garden Maintenance & Lawn Mowing.
5. Fixture Design
Fixture design services may be the most costly out of all the services on our list, but it’s also one of the best services you can avail of if you want to increase the value of your home. Custom fixtures can make your home feel and look more extravagant. It can also help you save a lot of space all over your home.
Perhaps the best thing about custom fixture designs is how they can give your property its own character. Think about it this way, you can have your home look like a 5-star hotel by just installing a couple of custom fixtures. PPS and Retail Fixture are two popular fixture design companies in Australia that you should consider if you plan to get such a service.
6. Specialized Cleaning
Last but definitely not least when it comes to property services for preserving your property appeal is specialized cleaning. This is arguably the most important type of service you can avail too because, at the end of the day, your property will only look appealing if it’s thoroughly clean.
Kleen is one of the most reliable companies in Australia that can help you with all of your cleaning needs. Kleen specializes in high-pressure cleaning, graffiti removal, floor coatings, and even concrete sealing. They also have several services for exterior cleaning to ensure your property is clean inside and out. And the best part is, they even have services that can help your property stay clean and organized for significantly long periods of time.
The Bottom Line
If you’re planning on investing in Real Estate, you can never really go wrong with pre-selling condominiums. As you can see, when you buy a property such as a pre-selling condo, you get so save money and gain more profit from your investment since you can get it at an ultimately lower price than if the building is already built or developed.
Having a condo can be a great asset, especially if you know about the different ways to preserve the appeal of your property like specialized cleaning, rubbish removal, and gardening. By learning which properties to invest in and practicing ways to preserve a property’s appeal, you can surely make tons of money buying and selling your real estate.
