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Buying Off-Plan Condominiums

February 25, 2012 | Comments: 0 | Views: 163

An off-plan condo is a condominium which is offered on the market for cheap because construction has not started yet. Normally off-plan properties are offered 25% below market value or more and pricing increases over the construction period.

The benefit of buying off-plan is that you will get a cheaper price compared to buildings which are already finished this gives you a high return on investment because you can buy for cheap and make profit in the future.

Off-plan condominiums normally take 2 years to complete and you not have to pay everything in advance. The amount is spread on installments over the construction period. Many property developers are able to provide you with special discounts and easy payment plans.

When you would like to purchase more than one condo it would be even cheaper and give you more profit in the future.

Off-plan buying can provide you with 70% or more profit over a period of 2 years which makes it very attractive to buy. The most popular places to buy are Thailand, Brazil and Spain. You may ask yourself why these countries are so popular? This is because of the big tourist industry which makes it is easy to rent out your property you have bought or resale it on the property market.

There are some important things which you need to think about when buying off-plan condos. Check how long the company which built the properties has been in business. Another very important thing is to check if the company has a proven track record of completed buildings or projects.

This will give you a picture how reliable the company is and if you can trust them. When you can see that there is a proven track record in place and there are plenty of completed condominiums and projects you might go ahead and invest into this company and buy a couple of units.

Note that with every investment there is a risk involved and you can minimize those risk by doing your home work. Make sure to not pay everything in advance and take a local lawyer or experienced real estate agent when buying the property. When you buy direct from the developer you will use their lawyers make sure to check everything to see if all is correct. There will be some price differences when you buy in company name or your own name. It is always more beneficial to buy in company name does not matter in which country you buy. This is because you have full control of the company and can do with the property what you want.

Billy Horner, is a professional writer for the real estate industry. Permission to reprint this article is granted if the article is reproduced in its entirety, without modification, including all information. Please include a hyperlink to: condo Pattaya and Pattaya houses.

Source: EzineArticles
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