If you are familiar with the real estate market, you are indeed aware of what property launch means. And if you don’t, stay tuned as you’ll understand what it is and why many people prefer to purchase a property when it’s being launched at https://www.newlaunchesreview.com before its completion. If you are new to such aspects of the real estate market, then here is why most people would tend to purchase a condo when being launched.
Appreciation of capital
A question many buyers ask before deciding the property to purchase is the appreciation of capital when there is a new launch. If your main objective of investing in property is to grow capital, then purchasing a launch condo is a sure thing to do as you will get a good chance of your capital appreciating.
When the property is being launched, you will get it at a cheaper cost since the developer gives discounts to buyers who book before its completion. Most importantly, what you’ll pay for the new launch is somehow closer to the initial value of that property.
You will get discounts and incentives.
The launched condos come at the price of a developer and don’t need the buyers to foot the agent’s commission. Many developers also provide several discounts to the buyers when launching condos. This may be a direct discount on price or tamp duties.
Many units available
When you book a flat during the launching of a condo, there are high chances that you will first select the unit type you prefer that has piqued your interest. This depends on how early you purchase it and if there’s balloting on the date of launching the condo. Being in a position to choose implies that you may decide on a unit that will be easier to rent or even sell in the future. For example, you may choose a unit with a better facing that has quick access to a side gate than other units.
A new unit with low moving costs
You will get a brand new unit with all the fittings and features. You’ll also enjoy the new design and facilities in your chosen unit without having to pay additional costs beyond the buying price. Besides, you will not have to spend your money on repair and renovation costs such as knocking out the already built-in cabinet.
New features and facilities
Let’s also not forget the features and facilities of a new unit. For instance, some condos today enable residents to control lighting, security systems, and air conditioning via their phones. It will appear brand new on the outside rather than wearing out like the resale property. Actually, this affects rentability. Most buyers will prefer a condo with a new pool or a gym with new equipment.
Developers offer the perks to first new condo residents. Some perks include services like free bus rides to the stations and many more. Besides, other perks include access to the wellness facilities like free club membership for one year.
These are just a few reasons you should consider purchasing a unit from the launched condo. Getting a team from a newly launched condo is an excellent way of getting a nicely made place where you can enjoy all the facilities that come with it.