Condominiums are the new trend, mostly in big-time cities like Miami, and the construction of these infrastructures is surging together with its demand. The upward trend of condominiums for aspiring homeowners or property owners is because these are more affordable and easier to maintain than buying your own land and building your own house.
In addition, you can even get a condo unit at a lower price, and it is through pre-construction sales – by purchasing a unit before the building is completely constructed. Miami is one of, if not the best, places to own a property, whether you’re from there or not, due to its cultural vibe, luxurious beaches, and glamorous lifestyle.
If you’re looking into owning your condo in the “Magic City,” here are some tips and advantages of buying a pre-selling condo:
The Right Amenities for You
Do you like working out? Tired of going out to take a swim in Miami’s beaches? You can find the perfect condominium for your hobbies, wants, needs, and lifestyle. This is the chance to do your hobbies without the hassle of going out.
One of the many advantages of purchasing a condo unit is that you’ll have access to more than just a home. Most offer amenities like gyms, spas, swimming pools, bowling alleys, and even mini theaters.
Also, the hassle of cleaning and maintaining the space and equipment where you do these hobbies won’t be a headache – it will be done for you. Your home is part of you and your lifestyle, and there is no use in buying a home where you can’t feel “at home.”
Miami is known for its beautiful sunrise and sunset views, sunny beaches during daylight, and its bright lights during nighttime. Being a buyer, the view that a unit can offer is something that will pique your interest most often.
However, it would be best if you were cautious because Miami is still a growing city – one day, the view that you had in your first year won’t be there in the second. Empty lots will become new buildings someday, which will continue throughout the years with how infrastructure is trending today.
Getting the best view might not be a problem at first – remember that you’re not just buying a condo; you’re buying your home. Your unit’s view will be your view every day; be wise when choosing the right pre-construction condo.
The “Magic City”
Buying a condo in Miami will typically result in you being near popular areas in the city. Miami pre-construction condo sales show that famous areas like Brickell, Downtown, and South Beach are the hottest places of interest, which means living in this city is like being in a tourist destination every day.
Choose the right area and have the chance to live near places that you would like to visit the most – might as well take advantage of being a condo owner in Miami, right?
Security and Community
Getting a home should make you feel safe and secure all the time. It is not only the building’s security features’ job to make you feel secure, but it also depends on the community. Some condos offer traditional keys, electronic keys, or even physical security guards with security cameras for the safety of their residents.
Most condos even have a lobby with a receptionist who monitors the date and time of visitors and other individuals’ entry and exit. In terms of community, this is also attributed to the security of your space – your condo’s security features can only do so much. When you buy a unit, make sure that the surrounding community is peaceful enough that you can sleep comfortably at night.
Budget is Key, Be Ready
According to recent statistics, the average price range of a single-family home in the city is $970,000, while condos are $687,000. You should be financially ready because this is not an endeavor, but buying a home is a commitment. Plus, living in Miami commands a higher cost of living – as Miami is the 3rd most expensive city in the United States. Check here for more information.
It is also stated that pre-construction condos are less expensive than those already built, but you still have to be ready. When it comes to buying and owning a property, some may be cheaper – however, nothing is really cheap in real estate. Some factors that contribute to this are the shortage of available single-family homes and a rise in condominiums. Many apartments are even being converted into condos because of this current trend.
If you need assistance, you can visit here:
Josh Stein, REALTOR
1688 Meridian Ave STE 700, Miami Beach, FL 33139 United States
Advantages: What’s the Plus in Pre-Selling Condos?
You Get “Dibs” at the Lowest Possible Price
Buying a unit in a pre-selling condo tends to have the maximum number of unit choices. It will give you the flexibility to choose the perfect unit for the lowest possible price – an advantage you can’t pass on if you’re considering condos.
Take advantage of this time frame because units get more limited and more expensive as the building gets closer to finishing construction. You can visit https://medium.com/jastakhar13/purchasing-a-pre-construction-condo-what-its-like-and-what-to-know-347d4f5f7909 to learn more about pre-construction sales.
No Pressure Moving, Take Your Time
Moving into a new home is a stressful task, but that won’t happen in buying this instance. Get organized – there’s no pressure to move in immediately. As the building won’t be finished for some time, just focus on settling your dues.
Plan your move-in scheme and schedule; moving into a new home doesn’t have to be a hassle. After a couple of years, you will get to enjoy the fruits of your labor.
Payment is More Flexible
Pre-selling condominiums tend to have a more friendly payment plan. This allows you to breathe with your budget, and terms can be stretched as condominiums will take a couple of years to finish constructing. The down payment that you need to take care of can be split, for example, into a 24-month or a 36-month payment plan.
A Decent Return on Investment
A condo unit’s market value will appreciate over time. The money you bring out by paying the monthly down payment will not be the same value after multiple years. The unit that you bought might double or triple its value throughout the years, and that is an amazing asset to have in your possession.