With the plethora of pre-construction projects currently on the drawing board in Miami, potential investors are overwhelmed by a myriad amount of information to digest. As of this writing, there are 25 projects in the pre-construction stage encompassing 10 communities throughout the greater Miami area. Imagine the sheer logistics of surveilling 25 sales offices to collect each prospectus. While you’ll receive a warm reception at each office, keep in mind that these people are working in the interests of the developer, not you.
So now you possess a tower of folders containing only the information that the developer wants you to have and that legal due diligence requires them to share with you. Now what? Your first self-directed question is “Why am I buying a condo that doesn’t even exist yet?” The glossy computer-generated photos are spectacular. The promised views have your heart soaring with anticipation. The sun-speckled pool area depicts smiling, attractive people living the good life.
Now it’s time for a reality check.
As the well-worn adage goes, there are three principles of real estate: location, location, location. Which location is right for you? Is the area going through gentrification or is it an established neighborhood with a stable track record? What amenities are conveniently available to you? What is the crime rate in the area? Are property values appreciating? The list goes on and on. Once you’ve decided on an area, it’s time to narrow down your search for a specific pre-construction project. The first order of business is to determine the developer’s track record for past projects it has spearheaded. Were the projects completed on time and on budget? Did they come through with the amenities that were promised? Did the walk-through inspections reveal any cut corners perpetrated by the builder?
Once the credibility of the developer has been ascertained and financing has been arranged, it’s time to customize your unit to your specifications. Factors to be considered include the selection of appliances, floor plans, design features, furnishings, and decor.
These are only a modicum of issues that need to be addressed when investing in a pre-construction development. It is not an undertaking for the uninitiated. It’s time to involve an experienced consultancy that will advocate for you and guide you through the rocky shoals of pre-construction condo investment. The seasoned pros at Florida docs.com have helped many investors like yourself navigate through pre-construction projects that have culminated in successful purchases resulting in satisfied buyers. Contact us at https://www.floridadoc-immobiliare.com/properties-search-results/?search_type=64 to learn how we can take the stress and uncertainty out of your condo investment.