Why Buying Miami Pre-Construction Condos Is a Good IdeaSeptember 27, 2016
There are some great reasons for buying Miami pre-construction condos. Some are all about the aesthetic reasons for wanting to live in this great city that’s always in demand. Other notions have everything to do with the other side of your brain and what a solid financial investment these units make.
One of the first things to consider is all about the one word that every investor wants to hear and that’s resale. Although it’s not considered good idea to flip any pre-construction condos in Miami you decide to buy, keeping a condo for the entire term before you sell it can be a lucrative method to make your money back and then some.
If you factor in the fact that it takes up to three years to build one of these condominiums, you’ll see that you have adequate time to get a full return as the unit increases in value. There’s no need to worry about the investment because Miami beach luxury condos are a unique purchase and always in high demand from international buyers.
Pricing tiers are another reason why you should get in on the ground floor with condominium units that haven’t been built yet. Most developers and construction companies release only a limited amount of inventory so they can make the most of the supply and demand cycle. If you purchase a condominium at one of the initial tier prices, you can lock in at a lower number that will benefit you as prices increase.
Keep in mind that by getting involved with pre-construction condos in Miami, you also set yourself up with some instant equity because the price goes up as surrounding buildings and neighborhoods undergo transformations. Always try to keep in mind that Miami is an international city, attracting buyers from all over the world and you’ll make the right decision.