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Smart Money, Smart People

Why is buying a presale property a good idea?

24/07/20 12:28 PM / by Phinance

Tiempo de Lectura: 3 min

 

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Buying property is a significant achievement for anyone, but it also represents a significant investment. Long story short, the decision is not one you make overnight, especially with the large number of options in the real estate market, as well as the many financing tools available.

Without a doubt, one of the best ways to invest is presale properties, although many let these opportunities go by because: 

  • The urgency to occupy your property is stronger.
  • Lack of a physical asset that can be examined and visited.
  • Lack of confidence in your buy, derived from the aforementioned.
  • Mortgage credits that do not allow purchases with less than 80% of the progress of the work.

In fact, according to the 2019 House Purchase Intent Survey of Mexicans, carried out by the Vivanuncios portal, only 21% of those surveyed claimed to have plans to buy a presale property.

Although there are few who take advantage of this, buying a land or pre-sale home has significant short, medium and long-term advantages that can save you a lot of money. These are  some:

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Lower costs and payment facilities

Buying while on presale offers a very attractive advantage: the opportunity to access promotions, discounts and better financing plans. Depending on the project, you can obtain a price up to 12% lower than what the property will be worth once completed, as well as the possibility of deferring your down payment for as long as the construction lasts. 

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Your chances of seeing capital gain in the short term increase

Buying a property for a presale price means that you can sell it at a higher value in the near future. This translates into surplus value. Forbes explains this simple equation:

"We can say that, if you buy a property that costs 1.25 million pesos in presale with a delivery date of 36 months in zone A, which has many other properties but it's not oversupplied, then, we can think of a capital gain of 20 to 25%. This means that, when delivered, the property could have a market value of around 1.56 million. ”

Of course, surplus value depends highly on the area's urban growth, successful development, competition in the surroundings, and on the developer who builds the property. However, the chances that your capital gain reaches 25% increase considerably if you buy during presale.

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More opportunities for you to choose

You should also take into account that, when choosing, the earlier you buy, the more possibility you will have to freely pick the properties with the best location and with the characteristics that suit your needs, because they will be more likely available . 

Of course this depends greatly on the developer, the project, the progress, and how much you pay in the presale (it is very unlikely that it will happen if you only provide the down payment), but in some cases you can request that your department or residence have certain characteristics.

When we talk about residential lots, however, the opportunity to choose before anyone else translates into a great opportunity to take advantage of the location, distribution of square meters and size that best suits you. If you want to buy a residential lot, presale is the best time to do it.

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Buying presale allows you to go at your own pace

Whether you are thinking about paying in monthly installments, obtaining greater capital gain, saving to build your home, or taking advantage of discounts, buying presale allows you to do things your way. It is a very good option to acquire a property as long as you remember to consult with real estate and legal experts. Buying presale is a smart decision that can help you save and earn more for your assets in the future!

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Topics: Inversión, Inmobiliario

Phinance

Publicado por Phinance