What to Look for in a Pre-selling Condo Unit
Choosing and reviewing the right condominium unit in the vast variety of options from dozens of developers in the city is very challenging. There are a lot of things to consider such as convenience, accessibility, cost, etcetera. Since the demand for condominium properties has skyrocketed, a lot of competing developers offer different services and this is also one thing to consider especially in luxury units.
Though living in condos will have you contend with smaller living spaces, the smaller size is also a benefit because this means you have to buy less furniture and you have less cleaning up to do. Yet, one of the issues of condo owners is on how sturdy the condo unit is or the lack of choices when it comes to choosing the best unit. Why not try pre-selling units then?
As pointed out by The Peterson Group Bespoke Condominium and Residences, expert in providing the best luxury units for expatriates in Singapore, Jakarta, Indonesia, Kuala Lumpur, Malaysia and Hong Kong, pre-selling units are mostly beneficial for futuristic individuals who have to spend a long time in a specific area. Presold condos are also offered in a lower price in the easiest way since the units are being sold before the process of completion and the project is still underway. In simple terms, as long as the condominium infrastructure is still being constructed, it is considered pre-selling unit.
Before signing up to any contracts though, you may have to ask yourself a few questions:
1. Can the developer be trusted?
As long as the developer has a reputable name, you can trust that your unit is safe into completion. Smaller and first-time developers are generally cash strapped and are up against the odds when trying to market preselling properties, putting them at higher risk for bankruptcy.
2. Lower your Expectations and don’t rely on the model unit
Do not expect your space to be exactly modeled after the display you were shown to. It doesn’t necessarily mean they have created a fraud. The model units were just modified to perfection.
3. Have everything in writing
Every single detail should be stipulated in your contract especially on the special services and specific details you want to be included in your unit. There are a lot of people involved in the sale of your condo-suite, and it may not be ready for a few years. You might remember a little promise, but there is a good chance that it will be forgotten by the builder.