Buying Apartment Pre-sale

[PBpalermo]

Hi, I wanted to ask what experiences anyone has had buying in pre-sale. I bought one unit a year and a half ago (Building will be finished in October) and have so far had a good experience. I have found prices to be great of you can wait until it is finished. Has anyone had any experiences with this?

Thanks

Pat

 

[tangobob]

Hi, I wanted to ask what experiences anyone has had buying in pre-sale. I bought one unit a year and a half ago (Building will be finished in October) and have so far had a good experience. I have found prices to be great of you can wait until it is finished. Has anyone had any experiences with this?

Thanks

Pat

Sorry I do not understand what you mean by pre-sale. If you mean before the building is finished, we would say off plan. I bought me property this way, and all I would say is, do not belive their completion dates, expect at least six months more waiting.
You will have to be right on top of them as well, because they have sold your place, they will be more concerned with the unsold units.
If you are staying local this should help, I was in the UK, but fortunately had some friends who could badger the builder. Even so when I moved in the place was filthy and the boiler (furnace?) did not work.
Still we are now happy with the place and glad we bought it.
Best of luck, Bob

 

[dfwemr]

I have purchased 2 units in the past 2 years this way. It is a great way to get a new project at a heavy discount to market. You do have to wait a couple of years for it to be completed and also buy from a reputable group. We flipped one of the units for 50% profit and we kept the other. Think of it this way, you are buying at a heavy discount to retail and get new construction. Thehy even financed 60% of the price for 24 months for me, no interest. If you want to buy, I would search out groups like remax and ask what new projects they have. They tend to screen the developers. Good luck

 

[Sleuth]

There are a number of benefits to buying pre-sale construction.

For example, a friend of mine is building a new 10-story condominium development in Belgrano (http://www.buenosairesapt.com) and has just started offering the units at pre-sale. It is priced significantly lower than some comparable nearly finished construction across the street ($2000 per sq meter vs $3000 - $4000 per sq meter). That is one benefit of buying pre-sale.

Also, he is offering financing options, whiich is something that you would not be able to get on a new building.

I think the one thing you have to watch with pre-sale is that they often build in price increases for inflation. This can add to the cost.

I think if you have the time and are looking for an investment, it can be a good way to go.

 

[perry]

There are huge advantages in buying pre sale contruction and Remax Argentina can offer the best offers in the market in Buenos Aires.

We deal with only high end developers and some exciting projects like the one above on Luis Maria Campos 1126 are priced below market value. As Dave has said many new developments have the inflation clause meaning hefty increases on payments but the one above and a few others have waived this condition.

I work for Remax Developers and will be happy to assist you with any questions you may have.