Should you buy a pre-sale apartment? In recent years, this type of purchase has become very important as it offers great benefits for people who are looking for a property to live in, or for investors who wish to obtain returns in the real estate sector.
Previously we told you more about points you should know before buying in presale and reasons to buy an apartment in presale, we invite you to take a look at them as well. However, today we will talk more about this topic from a general point of view so that you can make the best decision and secure your assets in the medium and long term. How to start the search for that dream home? Let’s take a look at it below.
How do you know if you should buy pre-sale or immediate delivery?
First, it is important that you define where you stand, or what type of investor you consider yourself to be. For example: if you need a place to live in the short term and you cannot afford to wait at least 12 months for it, the best thing for you will be to consider immediate delivery options, either in new construction or properties with some age.
Luxury homes and apartments for sale and pre-sale in CDMX 🏙️
On the other hand, if you find yourself in a situation where it is feasible to plan your move, interior style, custom-made furniture, as well as to choose among areas with higher added value, acquiring a pre-sale apartment may be the best option for you.
Where to look for a pre-sale property?
You have probably seen ads with the word “pre-sale” in several buildings throughout the city and on social networks, and although it is a good idea to approach this type of advertising for more information, it is always best to go to a company that has extensive experience and experience in this type of operations.
This is due to the fact that there are people who do not have the best management to offer this type of projects, and the whole process may cause you setbacks and headaches because you do not see a real progress of your investment.
To identify the best representative to handle your purchase process, it is necessary to know which established developers they have collaborated with, as well as how many pre-sale properties they have sold.
Also, do not miss the opportunity to visit their offices, visit the land where they are being built, as well as their reviews on internet portals, and check with official institutions such as the Commercial Bureau of the Federal Consumer Protection Agency (Profeco) .
What does the law say about presales?
The Mexico City Government provides valuable information for buyers looking to acquire a property in pre-sale. In summary, the most important would be:
- Know your rights as a buyer
You must know the extension of the land comprising the purchase, as well as the built surface, type of structure, what are the facilities and services, if the common areas are shared with other people and if so, what is the percentage of undivided ownership, how many parking spaces will be available, and what type of construction is it delivered in?
- Financial obligations
If the purchase will be made on credit, it is necessary to make a projection of payments with charges and commissions. In addition, it is important to know what expenses may be derived from the property, such as deed expenses, appraisals, taxes, etc.
- Provide as much information as possible about the project.
The developer involved, as well as the intermediary company, should provide as much information as possible about the project on a regular basis, such as mock-ups and sample properties, detailed plans, construction progress, and the legal and tax status of the property.
What aspects should you take into account when choosing your property?
Once you have verified the reliability of the company that will help you in your purchase process, you need to contemplate fundamental aspects to choose your ideal house or apartment.
One of the main attractions in the purchase of an apartment in this type of operation is the value it will have once the project is completed. Since the final value can go from 15% to 30% more than what you paid at the beginning.
Capital appreciation is an additional aspect to consider, since if you choose a location with good future projects in terms of commercial infrastructure and access roads, the property will be much more attractive due to its strategic location in areas of high development .
The lead time is another fundamental point in your decision. Before moving on to it and to avoid confusion, you must define what is the pre-sale time and the delivery time. The pre-sale time refers to the period of time to sell all the available units. This can be in days from launch and extend until construction is completed and becomes immediate delivery. On the other hand, the project delivery time can range from 12 months (once the pre-sale purchase is made) and extend indefinitely.
For your decision to be the best oriented, it is vital that you take into account the location, as well as the innovation in the project, amenities included and price, both in pre-sale and final projection. With these qualities it is possible to estimate the time it will take to complete the project.
Where should you buy a pre-sale apartment?
In principle, this decision should be made taking into account where you envision yourself in the future. If you like the pace of city life and need to be in meetings constantly, or if you prefer a more secluded country house where nature and a quieter lifestyle are the protagonists.
There are shopping guides by country, city and area that can help you explore more horizons and see places you have not yet imagined.
3 tips for buying a pre-sale property
- Find out more about how to purchase
The developer or real estate company where you are going to carry out the transaction may have an internal payment model, where you make a down payment and the remaining payments are deferred for several months. On the other hand, you can check if all the financial matters can be done with an institution or with an external bank. In addition, you must take into account your capital flows to avoid any setbacks.
- Gather all relevant documentation
When formalizing the transaction, you will be given important documents to validate that everything is in order and that the project can proceed correctly. While the contract, land tax records and building permits are relevant, for each property there is pertinent documentation that you should be aware of. In this scenario, having a team of experts who can answer all your questions is essential.
- Don’t forget the style
Of course, all the financial and legal aspects are important, but you should not leave aside the magic of acquiring a new apartment and transforming it into the home of your dreams. In Nolab we work with the best architects and interior designers with extensive experience. The detail of a specialized team will take your vision as a starting point and create the space you’ve always wanted.
Contact us, our advisors have all the information you need to intelligently buy luxury properties in the top areas of CDMX and more parts of the world .
