Real estate buyers are flocking to the Miami area and many are opting for pre-construction properties. Buyers include those looking for a primary home, retirement home, vacation home or investment property, and these properties offer many opportunities to prospective purchasers.
What is Pre-Construction?
Like it sounds, a pre-construction property is one that has not yet been built. These are frequently located in condominium buildings that are currently under construction, undergoing renovation for condominium use or still in the planning stage. Sellers can offer details like whether there will be a pool, gym or other amenities in the building. Purchasers buy the space and then work with a builder to build the unit out.
Benefits of Pre-Construction
There are several benefits to buying a condo during the pre-construction phase. At this point, there are frequently several open units available, so you’ll have a better selection of unit size, floor and view. You can frequently have the unit customized with your choice of appliances, number of bedrooms and other features. If you choose to purchase during the early phases of the project, you can often take advantage of discounted pricing, up to 10% off the final price. Once you move in, everything is brand-spanking new, from the spotless carpet to the sparkling appliances that work perfectly. There is also the possibility that the value of the unit will increase over the time it takes to complete the project, resulting in a profit for investment-minded buyers.
Pre-Construction in Miami
With an excellent climate, world-class restaurants, international flavor and busy nightlife, it’s no wonder that the Miami area is so popular. Miami has experienced growth in population and construction, and pre-construction properties are plentiful. To learn more about current pre-construction opportunities in Miami, please visit our website.