Purchasing a home is an exciting time; regardless of whether you are looking to buy your first one or upgrade your existing one. There are many options to consider and a range of variables that make the real estate market full of possibilities and fraught with hidden dangers. Pre construction houses are an excellent example of the volatility that can occur in this market. Whilst there are distinct benefits to purchasing pre construction houses; there are also serious issues which must be watched out for.
One of the best places to contact if you are considering pre construction houses is superiorrealtypoint.ca. This real estate agent will be able to guide you through the intricacies of this market and ensure that you get the deal and the house that you desire; it is possible providing you adopt the right approach:
Use a Realtor
This is not an advantage but a safety issue. There is a variety if pitfalls when purchasing pre construction houses which simply do not exist if you are purchasing one that is already built. A good realtor will help to ensure you have the right deal and the property you are buying is what you think you are buying. It is important to remember that the seller is representing the builder of the pre construction houses and their interests lie with them and not you.
Pre construction houses are generally cheaper. This is because the builder is looking to raise funds to ensure they have enough to complete the entire build. To do this they must offer a discount to provide you with an incentive for buying a property off a plan and not being able to move in almost instantly. The reduced price can make a home affordable. It can also provide you with instant equity once the house is built.
If you purchase a standard, already built home, you are able to look at what is in offer and choose the right one for you. This will often involve visualizing what you could adjust and ho you could make the home work for you. This is not the case when purchasing pre construction houses. You can choose to alter the existing layout and design the interior of your home yourself; without necessarily adding to the price. This will ensure a unique, tailor made home at a good price!
It is possible to purchase pre construction houses with a very small deposit; allowing you more time to save up the proper deposit and get the home of your dreams. This is a considerable benefit if you are currently struggling to afford the down payment on a home but don’t wish to wait any longer to buy.
Possibility of Renting
You may also wish to purchase pre construction homes simply to rent them out. This is a very popular market as the reduced price can make more affordable rents or bigger profits. In addition you will find it is easier to rent a new home than one that has been in existence for a while. Simply put the house is more desirable. In addition you will have a complete guarantee over the pre construction houses which will give you peace of mind and avoid expensive maintenance and repair bills.