Between a ready-to-move-in and an under-construction condo, which one is better? Are ready-to-move-in condos still worth investing in 2021?
Many people who want to invest in condos often ask that question and unsurprisingly a buyer with limited budget likely to choose a condo that is still under construction.
Under construction condos have 2 advantages
- Developers normally offer special prices or sales promotions to buyers such as an early bird price.
- Buyers can choose the room position or the floor they prefer. Normally, the projects with small number of units or located in the popular area are rapidly sold for profit speculation.
Today, Acute Realty would like to talk about 5 advantages of ready-to-move-in condos.
- No risk from down payments
- Buyers who pay down payments for under-construction condos can be at risk especially from the irresponsible developers. It is possible that they will cancel the projects if the rooms are not sold out. Ready-to-move-in condos, therefore, can assure you the future. You can even ask for the improvements if the defects found in the room before making reservation payment.
- Investors should be pleased with this advantage the most especially if they want to rent out for a long duration. Down payments during construction are considered non-performed expenses. Moreover, by the time the condo is finished, the yield or rent fees will not as much as the investors have expected. On the contrary, ready-to-move-in condos can rent out immediately. Buyers do not need to take any risk.
- Buyers will know the loan payment term and interest rate in order to process the ownership transfer and they can consider their financial ability including their financial planning. In some cases, buyers who have paid down payments before the construction is finished but are not approved for bank loans cannot ask for the down payment refunds.
- Be safe from the construction site
The unfinished construction projects can cause noise and air pollutions. Residents staying in the unfinished building are at risk of theft. Ready-to-move-in condos can solve these problems. There is no need to concern about the health or security.
- Able to feel the real common area, environment and scenery
For ready to move in condos, buyers not only see the displayed units but also the real units including the scenery and project overview. We cannot deny that these factors can motivate the buyers to make a decision and purchase. Compared with the newly launched projects that buyers cannot guess whether view of the rooms they have decided to buy are beautiful or have the privacy or not. Especially the common area, the pictures showed in their brochures and the reality of some projects might not even close.
Either under-construction and ready-to-move-in condo has its own advantages and disadvantages. Therefore, think carefully which disadvantages you can lose in order to get the advantages you prefer. If you require the early bird price, wish to select the room position and don’t want to miss that location at all, to purchase a condo since constructing will fulfil your needs.
But if you want to see and feel the real common area and project overview and more importantly to purchase and live in (or rent out) immediately, ready-to-move-in condos are more suitable for you.
For anyone who still hesitates to buy a ready-to-move-in condo, its advantages above might enable you to make a decision more easily. Recently, Acute Realty have various projects with good locations and proper functions for every city people.
Please click www.acuterealty.com for interesting sales promotions that you don’t want to miss.